Neometals reveals proof of concept for lithium extraction
The company intends to commercialise the technology with partners.
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 company intends to commercialise the technology with partners.
The lithium-titanate anode shows advantages over the traditional graphite anode.
The company’s core focus commodities are lithium and titanium.
Neometals has cash and investments of circa A$70 million at end March.
The company is debt free with cash and investments of circa A$70 million.
Neometals recently revealed a strategy to build a pilot plant in Canada.
The company will be able to participate in the surging cobalt market.
Neometals is in discussions for its interest in Mt Marion.
Neometals is now in discussions with interested third parties.
Neometals can buy up to 28.1 million shares under the program.
Neometals distributed A$22.5 million in dividends during 2016.
The proposed sale price is worth circa A$125 million.
The lithium boom has delivered real value already, but how much more is there to come?
Neometals owns a 13.8% share in the Mt Marion Lithium Project.
Neometals held $61.2 million in cash and cash equivalents at end of December 2016.
Neometals wants to extract cobalt from recycled devices such as laptops and phones.
Neometals is trading up 75% over the past 12 months, currently priced at $0.34.
This first shipment follows the successful commissioning and continued ramp up.
Estrella Resources (ASX:ESR) has submitted the historic drill cores from its newly acquired Mt Edwards project near Kalgoorlie, for analysing lithium and related elements.
Neometals has a 13.8% interest in the Mt Marion lithium operation.