Neometals (ASX:NMT) continues its on-market buyback of shares at pace, and has now purchased circa 11.9 million shares for a consideration of $3.4 million.
The program allows for a total purchase of 28.1 million shares, and therefore 16.3 million can still be bought.
Neometals has positioned itself to have conservative exposure to the energy storage revolution.
The company’s core focus commodities are lithium and titanium.
Neometals has three lithium exposures – 1) a 13.8% interest in the Mount Marion Lithium Project which is currently in a sale process; 2) a 70% interest in the ELi® lithium hydroxide processing technology; and 3) a 50% ownership in the lithium battery recycling technology.
The company has two titanium interests being the wholly-owned Barrambie Titanium Project and the Neomet titanium processing technology.