Neometals Ltd's (ASX:NMT) shares have been getting snapped up by investors recently, and the company has received a speeding ticket from the ASX in the form of a price and volume query.
The company's shares hit an intra-day high of $0.37 yesterday, up 8.8% from the previous session close.
The ASX also noted an increase in volume over recent days.
Neometals noted back to the exchange that it is not aware of any information not released that could explain the recent trading activity, but did however quote:
"The company notes that there has been a general increase in market sentiment for companies in the lithium sector in recent weeks with a number of companies across the sector experiencing significant share price appreciation."
Neometals currently holds a 13.8% stake in the globally-significant Mt Marion Lithium Project in Western Australia.
Minerals Resources Ltd (ASX:MIN) (43.1% stake) is the project operator and Australia’s largest contract minerals processor.
The final partner is Ganfeng Lithium (43.1% stake), which is China’s largest, most diverse lithium producer.
World-class titanium exposure
The portfolio of Neometals also includes the Barrambie Titanium Deposit in Western Australia, which is one of the world’s highest‐grade titanium deposits.
Test work recently commenced.
READ NOW: Neometals commences test work at one of the world’s highest‐grade titanium deposits
Adding further interest to the company, is its exposure to the lithium-ion batteries sector.
Neometals recently lodged an Australian provisional patent application associated with its technology to produce lithium titanate oxide for use in lithium-ion batteries.
Neometals has a dedicated subsidiary, Neomaterials Pty Ltd, to hold its interest in the intellectual property and patent applications for this advanced battery material process.
Test work results indicate performance of the material in the larger scale pouch-cell was superior to the commercially available lithium titanate, and re-confirmed in multiple coin-cell tests.
All tests had NCM cathode and LTO anode.
Neometals is well-funded with $46.5 million in cash at the end of June 2017.