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Neometals plans first lithium shipment in January

Neometals has a 13.8% interest in the Mt Marion lithium operation.

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Stockpiling finished product.

Neometals (ASX:NMT)  is expecting the first shipment of circa 10,000 tonnes of lithium concentrate from its 13.8% owned Mt Marion lithium operation to depart in January 2017.

As at 21 December 2016, circa 6,000 tonnes of lithium concentrate had been produced from Mt Marion, with 3,000 tonnes stockpiled at port, and with trucking continuing around the clock.

The Mt Marion Lithium Project is owned by:

- 43.1% Mineral Resources Ltd (ASX:MIN);
- 43.1% Ganfeng Lithium; and
- 13.8% Neometals Ltd.

Minerals Resources is the project operator and Australia’s largest contract minerals processor.

Ganfeng is China’s leading, most profitable lithium producer and has secured a life-of-mine, take-or-pay offtake agreement for Mt Marion.

Neometals’ current strategy is to grow market cap by maximising return from existing operations, increasing margins via higher value downstream products and developing growth options.

The share price has doubled year to date, currently trading at $0.34.

Quick facts: Neometals Ltd

Price: 0.36 AUD

ASX:NMT
Market: ASX
Market Cap: $196.33 m
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Neometals secures lithium offtake and potential feedstock from Mt Marion...

Neometals Ltd (ASX:NMT) managing director Chris Reed updates Proactive Investors on the lithium developer’s recent divestment of its Mt Marion Lithium Project for $103.8 million.   As part of the sale agreement, Neometals has secured a binding life-of-mine annual offtake option...

on 27/3/19

2 min read