Neometals Ltd

Neometals secures lithium offtake and potential feedstock from Mt Marion divestment

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 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.

Quick facts: Neometals Ltd

Price: $0.19

Market: ASX
Market Cap: $100.72 m

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Neometals Ltd looking to move downstream towards lithium chemical production

Chris Reed, chief executive of Neometals Ltd (ASX:NMT), discusses with Proactive's Andrew Scott their decision to enter into an option agreement to sub-lease a 40-hectare site in Kalgoorlie for a proposed lithium hydroxide refinery. With a lithium hydroxide plant, Neometals aims to take...

on 7/6/18

2 min read