Neometals Share News (NMT)

Neometals Ltd - London-based battery materials from upstream extraction and downstream processing - Completes class 3 engineering cost study component of feasibility study on the recovery of high-purity vanadium pentoxide from a potential vanadium recovery project.

The study confirms the potential for recovery at the lowest quartile operating costs, aligning with prior outcomes from the company's historical pre-feasibility study.

"Completion of the ECS has provided additional confidence in the operating and capital costs of VRP1, the teams have significantly reduced the technical risk of the project. Combining this high-grade feed stock with our innovative process flowsheet can deliver very high purity, low-cost vanadium chemicals globally with a very low carbon footprint. Security of supply is a key issue in Europe, vanadium has been on the list of Critical Raw Materials since 2017 and Russia supplied the bulk of Europe's vanadium feedstock in 2021. As Europe's only advanced high purity vanadium development project, VRP1 is a strategically important asset," said Managing Director Chris Reed.

Current stock price: 55.00 pence

12-month change: down 24%

By Dayo Laniyan; dayolaniyan@alliancenews.com

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