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Neometals completes acquisition of Mt Edwards lithium project

The company agreed to pay $2.5 million for the package in March 2018.

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Neometals is evaluating a local lithium hydroxide facility in Kalgoorlie

Neometals Ltd (ASX:NMT) has now completed the acquisition of the tenement and nickel rights package from Apollo Phoenix Resources Pty Ltd.

The package covers 240 square kilometres and includes the Mt Edwards Lithium Project, which is located 40 kilometres south of the operating Mount Marion Lithium Project of which Neometals owns a 13.8% equity interest.

It represents a strategic addition to Neometals’ spodumene sourcing pipeline to support its planned lithium hydroxide business.

READ: Neometals enters option for lithium hydroxide refinery site

Neometals is evaluating a local lithium hydroxide facility in the Kalgoorlie region to process its off-take rights from Mount Marion.

The acquisition of the Mt Edwards Lithium Project adds a prospective brownfield holding to the pipeline of potential additional sources of spodumene to support Neometals’ strategy to build an integrated lithium business.

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ASX:NMT
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Market Cap: $98.16 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