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| Date | 22 Feb 2022 |
| Time | 08:00:01 |
| Category | Corporate updates |
| ID | 3272C |
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ANNOUNCEMENT TO BE MADE BY THE AIM APPLICANT PRIOR TO ADMISSION IN ACCORDANCE WITH RULE 2 OF THE AIM RULES FOR COMPANIES ("AIM RULES") |
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COMPANY NAME: |
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Neometals Ltd
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COMPANY REGISTERED OFFICE ADDRESS AND IF DIFFERENT, COMPANY TRADING ADDRESS (INCLUDING POSTCODES) : |
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Level 1, 1292 Hay St West Perth, WA 6005 Australia
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COUNTRY OF INCORPORATION: |
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Australia
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COMPANY WEBSITE ADDRESS CONTAINING ALL INFORMATION REQUIRED BY AIM RULE 26: |
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COMPANY BUSINESS (INCLUDING MAIN COUNTRY OF OPERATION) OR, IN THE CASE OF AN INVESTING COMPANY, DETAILS OF ITS INVESTING POLICY). IF THE ADMISSION IS SOUGHT AS A RESULT OF A REVERSE TAKE-OVER UNDER RULE 14, THIS SHOULD BE STATED: |
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Neometals innovatively develops opportunities in minerals and advanced materials essential for a sustainable future.
The Company has four key battery materials projects that support the global transition to more circular supply chains and cleaner energy. Three with downstream focus on sustainable materials processing and recycling and one upstream mineral extraction opportunity.
Materials processing and recycling projects: A. Lithium-Ion battery recycling - Neometals has developed a proprietary sustainable process for the recovery of valuable constituents from cell production scrap and end-of-life lithium-ion batteries. The Company established Primobius GmbH (Primobius) as a 50:50 joint venture with SMS Group GmbH to evaluate the opportunity ahead of a decision on commercial deployment. The Primobius main operations are based in Germany.
B. Vanadium recovery
Neometals is exploring opportunities to commercially apply its sustainable proprietary vanadium recovery processing flowsheet vanadium recovery project on stockpiles of vanadium bearing steel manufacturing by-product. The project team is currently pursuing two distinct supply/offtake opportunities in Scandinavia and has ambitions to build a pipeline of suitable feedstock sources to increase future production.
Main operations for the projects are based in Finland and Sweden, with testing completed in Australia to date.
C. ELi® Lithium Process Neometals is a 70% co-owner of Reed Advanced Materials Pty Ltd (RAM) with ASX listed company Mineral Resources Limited (ASX: MIN). RAM developed the process behind ELi® from concept through to semi-pilot scale testing during the past 8 years with a view to having a competitive and reliable method of large-scale lithium hydroxide and carbonate production to support efforts to decarbonise the LIB supply chain. The project main site of operation is in Portugal. Upstream mineral extraction project: A. Barrambie Titanium and Vanadium Project
The Barrambie titanium and vanadium project (Barrambie) is located approximately 80km north-west of Sandstone, Western Australia, and is one of the largest and highest grade vanadiferous-titanomagnetite Mineral Resources globally. The Barrambie project contains one of the world's largest and highest-grade hard rock titanium Mineral Resource and a high-grade vanadium resource.
In June 2021, IMUMR completed trials at pilot scale to confirm that the mixed gravity concentrate can be roasted and magnetically separated into two high-quality ilmenite and iron-vanadium concentrates. These concentrates from the pilot trials will be used in the evaluation by potential offtake parties for the balance of potential production.
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DETAILS OF SECURITIES TO BE ADMITTED INCLUDING ANY RESTRICTIONS AS TO TRANSFER OF THE SECURITIES (i.e. where known, number and type of shares, nominal value and issue price to which it seeks admission and the number and type to be held as treasury shares): |
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548,376,396 ordinary shares of no par value
No Ordinary Shares are or will be held in treasury
The Ordinary Shares (via Depositary Interests through CREST) will be freely transferable and have no restrictions as to the transfer placed on them
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CAPITAL TO BE RAISED ON ADMISSION (AND/OR SECONDARY OFFERING) AND ANTICIPATED MARKET CAPITALISATION ON ADMISSION: |
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The Company does not intend to raise any capital prior to or concurrent with Admission to AIM
Market capitalisation on Admission is expected to be approximately AU$716 million (being approximately £379 million based on the closing mid-market price of the Company's Ordinary Shares admitted to ASX of AU$1.305 on 21 February 2022, at a AUSGBP exchange rate of 0.53)
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PERCENTAGE OF AIM SECURITIES NOT IN PUBLIC HANDS AT ADMISSION: |
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1.72 per cent.
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DETAILS OF ANY OTHER EXCHANGE OR TRADING PLATFORM TO WHICH THE AIM SECURITIES (OR OTHER SECURITIES OF THE COMPANY) ARE OR WILL BE ADMITTED OR TRADED: |
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The Company's ordinary shares are listed for trading on the ASX - Ticker: NMT
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FULL NAMES AND FUNCTIONS OF DIRECTORS AND PROPOSED DIRECTORS (underlining the first name by which each is known or including any other name by which each is known): |
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Steven Cole (Non-Executive Chairman) Christopher (Chris) John Reed (Chief Executive Officer) Douglas Campbell Walter Ritchie (Non-Executive Director) Dr Jennifer Marilyn Purdie (Non-Executive Director) Dr Natalia Streltsova (Non-Executive Director) Lee Gordon (Les) Guthrie (Non-Executive Director)
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FULL NAMES AND HOLDINGS OF SIGNIFICANT SHAREHOLDERS EXPRESSED AS A PERCENTAGE OF THE ISSUED SHARE CAPITAL, BEFORE AND AFTER ADMISSION (underlining the first name by which each is known or including any other name by which each is known): |
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NAMES OF ALL PERSONS TO BE DISCLOSED IN ACCORDANCE WITH SCHEDULE 2, PARAGRAPH (H) OF THE AIM RULES: |
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N/A
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(i) ANTICIPATED ACCOUNTING REFERENCE DATE (ii) DATE TO WHICH THE MAIN FINANCIAL INFORMATION IN THE ADMISSION DOCUMENT HAS BEEN PREPARED (this may be represented by unaudited interim financial information) (iii) DATES BY WHICH IT MUST PUBLISH ITS FIRST THREE REPORTS PURSUANT TO AIM RULES 18 AND 19: |
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(i) 30 June
(ii) 30 June 2021
(iii) 31 March 2022, 31 December 2022 & 31 March 2023
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EXPECTED ADMISSION DATE: |
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28 February 2022
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NAME AND ADDRESS OF NOMINATED ADVISER: |
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Cenkos Securities plc 66 Hanover Street Edinburgh EH2 1EL
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6.7.8 Tokenhouse Yard London EC2R 7AS
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NAME AND ADDRESS OF BROKER: |
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Cenkos Securities plc 66 Hanover Street Edinburgh EH2 1EL
and
6.7.8 Tokenhouse Yard London EC2R 7AS
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OTHER THAN IN THE CASE OF A QUOTED APPLICANT, DETAILS OF WHERE (POSTAL OR INTERNET ADDRESS) THE ADMISSION DOCUMENT WILL BE AVAILABLE FROM, WITH A STATEMENT THAT THIS WILL CONTAIN FULL DETAILS ABOUT THE APPLICANT AND THE ADMISSION OF ITS SECURITIES: |
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The Company's admission document will contain full details about the applicant and the admission of its securities.
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THE CORPORATE GOVERNANCE CODE THE APPLICANT HAS DECIDED TO APPLY |
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ASX Corporate Governance Council Principles and Recommendations 4th Edition 2019
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DATE OF NOTIFICATION: |
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22 February 2022
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NEW/ UPDATE: |
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Update
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