Neometals prepares to release details on a material acquisition
The halt will remain in place pending the release of information regarding an acquisition.
Company
ASX:NMT
Neometals Ltd is leveraging its proprietary, green process technologies to generate battery materials projects with unparalleled exposure to commodities most impacted by the energy storage megatrend. The company builds value, de-risks and develops these long-life projects with strong partners having a strategic focus on increasing margins through integration down the value chain. Neometals has a growing suite of sustainable downstream, recovery and recycling projects, supporting the global transition to more circular supply chains and cleaner energy.
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The halt will remain in place pending the release of information regarding an acquisition.
Recently, a London-based investment group valued the company at $1.43 per share.
Arlington Group Asset Management report says the stock is significantly undervalued.
Prices are at near five year highs due to strong demand and Chinese cutbacks.
The company aims to serve electric vehicle and grid storage applications.
The company’s Level 1 ADRs have met US requisite standards.
Shares are up 65% over the past three months, currently trading at $0.502.
Neometals portfolio includes world-class lithium and titanium assets.
Barrambie is one of the world’s highest‐grade titanium deposits.
Neometals has lodged an Australian provisional patent in relation to lithium titanate research.
The sub‐licence agreement will enable the technology to be applied by a third‐party joint venture.
Neometals is well-funded with $46.5 million in cash at the end of June 2017.
Neometals held $45.5 million in cash at the end of June 2017.
At June 30, Neometals held A$62 million in cash and investments, with no debt.
Neometals holds a stake in Mt Marion, along with other lithium assets.
Neometals Ltd has resolved to end its sale process for its stake in Mt Marion.
The Mt Marion Lithium Operations are located in Western Australia.
Neometals has co-developed technology to recover metals from recycled batteries.
Neometals has a sale process underway for its 13.8% equity in Mt Marion.