Neometals announces capital raising initiative

Neometals (ASX:NMT) has announced a 1 for 12 pro-rata non-renounceable entitlement offer to raise approximately A$5 million. The offer, priced at A$0.09 per new share, is part of a larger capital raising effort. The funds will support the development of Lithium-ion Battery Recycling technology and other projects.

Neometals' strategic financial and technological plans

Neometals Ltd has launched a 1 for 12 pro-rata non-renounceable entitlement offer to raise about A$5 million, following a successful placement raising A$4 million. The funds will be allocated to developing their Lithium-ion Battery Recycling technology, lithium and vanadium R&D, and general corporate expenses. The Entitlement Offer, closing on 30 October 2024, is open to eligible shareholders and is not underwritten. Neometals is focused on sustainable processing solutions, highlighted by their Primobius joint venture with Mercedes-Benz, and aims to support the global shift towards a circular economy. The company is advancing projects like the Barrambie Gold and Titanium project and is managed by Euroz Hartleys Limited.

Executive insights on Neometals' strategy

Neometals is commercializing advanced battery materials technologies and is working on sustainable solutions for recycling and recovering materials from high-value waste streams. The company operates through joint ventures and aims to leverage its Lithium-ion Battery Recycling technology and other sustainable processes to support the global transition to a circular economy.