Neometals Ltd (ASX:NMT), a company looking to produce minerals and materials from recycling and recovery, said it plans a dual listing on London’s Alternative Investment Market in addition to its existing listing on the Australian Securities Exchange.
The shares are set to start trading on AIM on February 28.
Neometals hopes to capitalise on UK and European investor interest in its role supporting sustainable circular battery value chains.
The company has four, multi-commodity projects, designed to produce low-carbon materials: a lithium-ion battery recycling joint venture project with Germany’s SMS group; a vanadium recovery project in Scandinavia; a lithium processing project in Portugal; and the Barrambie titanium and vanadium project in Australia.
Neometals said it has about A$120mln (£63mln) of cash and investments with no debt and a balance sheet to finance through to investment decisions with three requiring a decision this year.
"We are pleased to announce our intention to seek admission to the AIM market and to broaden our shareholder base ahead of decision points for our European projects in 2022,” said chief executive and co-founder Chris Reed.
“Neometals offers its shareholders exposure through a diversified portfolio of projects which will produce the critical materials needed by the electric vehicle and energy storage sectors. Through those projects we are commercialising our proprietary green processing technologies that are intended to support decarbonising those supply chains.”