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Highlights
- Neometals’s shares closed 10.511% higher at AU$1.945 per share on ASX today.
- The S&P/ASX 300 Metals and Mining Index (ASX:XMM) ended 1.695% higher at AU$6460.200 points on Friday.
- The ASX-listed miners which reached record high levels today include Allkem Ltd (ASX:AKE), Core Lithium Ltd (ASX:CXO), AVZ Minerals Limited (ASX:AVZ), and IGO Limited (ASX:IGO).
The shares of Neometals Ltd (ASX:NMT) skyrocketed on Friday, although there was no new update/announcement by the company today. Neometals share price closed 10.511% higher at AU$1.945 per share on ASX, thus ending this week’s trading for the stock on a positive note.
Recently, in a major development, the company had announced the opening of a new commercial lithium-ion battery recycling plant in Germany. The company’s share price made substantial gains in March as the stock has gained over 31% in the past one month.
The S&P/ASX 300 Metals and Mining Index (ASX:XMM) ended 1.695% higher at AU$6460.200 points. Meanwhile, on Friday, the S&P/ASX200 closed 0.078% lower at 7,493.800 points.
Neometals’ shares have gained 386.25% over the last 12-months, while the stock is up 17.17% YTD.
Neometals Limited is an ASX-listed mineral projects explorer and developer. The company has a market capitalisation of AU$965.14 million.
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Today’s surge in the company’s share price can be partly attributed to the solid performance of the metals and mining sector on ASX today. The last time we heard any official update from Neometals was on 29 March 2022 when the mineral explorer had revealed that Primobius GmbH has officially opened its 10tpd commercial lithium-ion battery recycling facility (“10tpd Shredding Plant”) in Germany.
The company is expected to commence operations in Q2 2022, pending the receipt of the operating permit.
Primobius GmbH or Primobius is the incorporated joint venture (“JV”) entity, owned 50:50 by Neometals and SMS group GmbH.
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The company had revealed that Primobius is awaiting the imminent receipt of a federal emission operating permit to enable 10tpd Shredding Plant operations at a maximum battery input rate of 10 tonnes/day. The company expects that the disposal service will generate near-term revenue.
Image Source: © Elnur | Megapixl.com
It is worth mentioning here that Neometals has made several strategic investments in the lithium battery supply chain. Earlier this week, the company stated that it has invested US$500,000 in a financing round for a private US-based battery start-up, Tyfast Energy Corp (“Tyfast”).
The company believes that this investment will provide it with an opportunity for direct exposure to battery electrode materials with Tyfast’s vanadium-based anode technology.
Last month, Neometals had confirmed that Primobius is finalising discussions with Mercedes-Benz regarding the planned cooperation with LICULAR GmbH (“LICULAR”), a wholly-owned subsidiary of Mercedes-Benz AG.
The ASX-listed miners which reached record high levels today include Allkem Ltd (ASX:AKE), Core Lithium Ltd (ASX:CXO), AVZ Minerals Limited (ASX:AVZ), and IGO Limited (ASX:IGO).
