- AU$685.45 million dollar company Neometals ended today’s session quite strong – up 8.399%.
- The company has a cash balance of AU$72.8 million with zero debt.
- Neometals is also anticipating dual listing on the AIM market of the London Stock Exchange in the March quarter of 2022.
Shares of Neometals Limited (ASX:NMT) are garnering investors’ attention today. On Friday, the share price of the company was quoted 8.399% strong at AU$1.355 per share at last. This is more than 323% higher than the stock's closing price - AU$0.32 per share exactly a year ago.
The company shared its quarterly activities report for the period ending 31 December 2021.
The company has a strong cash balance of AU$72.8 million with zero debt. Besides, NMT finished the financial year 2021 with an impressive relative 300% increase in share price.
Key developments in Neometals:
- Neometals sustainable battery materials portfolio enhanced with commercialisation opportunity over proprietary electrolysis process to produce lithium chemicals from lithium salt, ELi®;
- The company has developed a sustainable process flowsheet to recover battery materials in production scrap and end-of-life lithium-ion batteries (LIBs) that might otherwise be disposed of in a landfill.
- Neometals' ‘LIB Recycling Technology’ targets the recovery of valuable materials such as cobalt, nickel, lithium, copper, iron, aluminium, carbon and manganese into saleable products that are recyclable in the battery supply chain.
- Neometals became a party to an incorporated 50:50 joint venture with SMS group GmbH, Primobius GmbH. This was done to co-fund and complete end stage assessment activities and consider the commercialisation of LIB Recycling Technology.
- Neometals is exploring opportunities to commercially apply its sustainable proprietary vanadium recovery processing flowsheet on vanadium-bearing steel manufacturing by-products stockpiles. The company is currently pursuing two different partnership opportunities in Scandinavia and has ambitions to build a pipeline of suitable feedstock sources to increase future production.
- Cash and term deposits on hand as of 31 December 2021 totalled AU$72.8million. The company has net receivables and investments totalling approximately AU$47.9million.
Neometals earlier shared it did not declare or pay dividends during the 2021 financial year. On 20 March 2020, the company announced a partially franked dividend of 2 cents per share, 0.0014 cent franked and 0.0186 cents unfranked to the holders of fully paid ordinary shares, paid to shareholders on 3 April 2020.
Neometals is currently evaluating various options for CO2 supply and is also developing opportunities to qualify its SSM as a carbon removal media. Given its environmentally friendly practices and approach towards a sustainable future, the company has said that it will find steps required to register a methodology to generate valuable approved carbon offsets.