This will result in the company paying out around $11 million, which will leave it with a cash balance of $116 million.
In order to receive the dividend shareholders must hold shares in Neometals on the record date of 8 May 2019 being next Wednesday.
The main reason for Neometals’ healthy cash balance is the divestment of its interest in the Mt Marion Ltihium Project for $103.8 million.
As part of the sale agreement, Neometals has secured a binding life-of-mine annual offtake option for 57,000 tonnes a year of 6% spodumene concentrate from the mine.
The option provides Neometals with potential feedstock for downstream processing into higher-margin lithium chemicals.
Proactive caught up with the company’s managing director Chris Reed in late March 2019 for an update.