NMT: Vandium Offtake Agreement with Glencore

NEOMETALS LTD

• Neometals Ltd executed a binding offtake agreement through its subsidiary Novana Oy with Glencore to sell all saleable vanadium products for an initial period of 5 years, from a project known as VRP1.
• The deal underlines the demand for high-purity, carbon-neutral vanadium pentoxide produced in European Union (EU) from EU raw materials.
• Glencore will provide technical expertise to the project due to its substantial experience in vanadium operations at the Rhovan mine in South Africa.

2023-07-12 09:23:00

NMT: Vanadium Recovery Project Update

NEOMETALS LTD

• The Shareholders of the Vanadium recovery project, led by Neometals, have moved the Financial Investment Decision (FID) deadline to 30th September 2023, providing extra time for negotiations and due diligence with potential financiers.
• The project is showing strong progress and attracting interest from both Nordic and International investors, with SEB and Aventum Partners leading the financing processes and the European Investment Bank progressing favourably with due diligence.
• Neometals is in advanced discussions with SSAB to extend the investment decision deadline under the SSAB slag supply agreement to align with project financing timelines, signifying SSAB's support for the project's progress.

2023-06-30 08:19:00

NMT: Primobius Technical and Commercial Update

NEOMETALS LTD

• Primobius achieves over 95% recovery of nickel, cobalt, and copper in demonstration plant trials, with new lithium process results pending.
• Hydrometallurgical refinery Engineering Cost Study for a 50tpd commercial-scale recycling plant expected to be completed in July 2023.
• Finalizing Front-End-Engineering (FEED) and mechanical package supply contracts for 10tpd Mercedes Benz Spoke, with advanced progress on hub activities.

2023-06-01 08:17:00

NMT: Barrambie - Updated PFS Results

NEOMETALS LTD

• Neometals completes Class 4 Pre-Feasibility Study Update for production of Direct Shipped Ore and Mixed Gravity Concentrate from Barrambie Titanium Project.
• Project has a pre-tax NPV of A$374.9m and an IRR of 45%, with an initial capital requirement of A$78.1m for 1 year of DSO production.
• Probable Ore Reserve update to 27.6 Mt at 22.3% TiO2, 43.7% Fe2O3, and 0.57% V2O5, allowing the project to move into a definitive feasibility study phase.

2023-05-15 08:21:00

NMT: Lithium - Exceptional Engineering Cost Study Results

NEOMETALS LTD

• Engineering Cost Study confirms potential industry-leading costs using proprietary ELi™ process for lithium chemical operation in Portugal.
• Estimates indicate a lithium-brine conversion cost of €1,768 per tonne of battery-grade lithium hydroxide and a capital cost estimate of €405 million.
• Plant with a production capacity of 25,000tpa of battery-grade lithium hydroxide monohydrate expected to be commissioned and operational in Q1 2027.

2023-04-26 08:10:00

NMT: Barrambie - Landmark Offtake Term Sheet Executed

NEOMETALS LTD

• Neometals subsidiary Australian Titanium executes offtake term sheet with Jiuxing Titanium Materials for Barrambie Project.
• Term Sheet outlines key principles to be included in binding take-or-pay offtake agreement for the development of a mining operation.
• Recent pre-feasibility study is being updated to reflect the proposed development, with results expected in May 2023.

2023-04-20 09:24:00

NMT: Vanadium Recovery - Neometals Majority Ownership

NEOMETALS LTD

• Neometals to increase its ownership in the Vanadium Recovery Project to 72.5% through its incorporated JV company, RISAB.
• Critical Metals Ltd will have 27.5% ownership of RISAB after contributing A$300k capital on 31st March 2023.
• RISAB is advancing engineering, procurement, equity, and project financing activities to enable consideration of an investment decision by 30 June 2023.

2023-04-06 11:46:00

NMT: Vanadium Recovery - Feasibility Study Results

NEOMETALS LTD

• Lowest quartile cash cost of US$4.19/pound, excl. royalty, with potential to lower with by-product/carbon credits
• Average annual production (excluding ramp up) of 19.1 million pounds per annum (~8,655tpa) of potentially carbon negative high-purity V2O5 secured by 10-year supply agreement with Scandinavian steelmaker SSAB
• 40% increase in pre-tax NPV 10, to US$323 million compared to PFS1 and pre-tax IRR of 24.8% on 100% ownership basis

2023-03-08 08:14:00

NMT: Vanadium Recovery - Landmark Commercial Agreements

NEOMETALS LTD

• Neometals has formalised their 50% ownership in the Vanadium Recovery Project’s incorporated joint venture company, Recycling Industries Scandinavia AB (RISAB).
• Neometals guarantees an amended LD-Slag supply agreement with steelmaker SSAB to support a 10 year, 300,000tpa operation.
• A feasibility study on the 300,000tpa operation will be released in March 2023 and RISAB has leading Nordic investment banks managing equity and project financing processes.

2023-03-02 08:56:00

NMT: Primobius Commercial Update

NEOMETALS LTD

1. Stelco Holdings Inc. and Primobius have agreed term extensions for the technology license and lithium-ion battery recycling JV option agreements.
2. Stelco ‘Spoke’ plant supply agreement and option exercise decision timeline s adjusted to align with completion of ‘Hub’ engineering cost study in June Q 2023.
3. The parties have been conducting due diligence, front-end engineering studies and building the business case for a long-term commercial recycling relationship since 2021.

2023-01-06 13:14:00