Neometals' recent capital raising and future plans

Neometals Ltd (ASX:NMT), a sustainable process technology developer, has successfully closed a A$4 million placement and announced an entitlement offer. The placement of 44,444,445 new fully paid ordinary shares at A$0.09 per share received firm commitments from sophisticated, professional, and institutional investors. The company aims to reinforce commercialisation activities, particularly in its battery recycling plant building joint venture, Primobius, and fund sustainable processing solutions.

Neometals Managing Director's perspective on the capital raising

We are pleased to announce the Entitlement Offer and conclusion of the Placement which was supported by new and existing sophisticated investors and institutions. The capital raising will reinforce commercialisation activities by Neometals' battery recycling plant building joint venture, Primobius, as it delivers its maiden plant for Mercedes-Benz. The successful validation of our process and plant supply business model at scale is the precursor to offering commercial plants to our growing pipeline of current and prospective customers and technology licence holders. Neometals management appreciates the long-term support and efforts of lead manager Euroz Hartleys as well as further investment from existing shareholders.

Neometals' outlook and utilization of raised funds

Neometals' successful closure of the A$4 million placement and announcement of an entitlement offer reflect its commitment to reinforcing commercialisation activities and funding sustainable processing solutions. The company plans to utilize the raised funds primarily for LiB recycling development, lithium and vanadium technology research and development, Barrambie Gold and Titanium, as well as staff, general, and administrative costs. The company's focus on sustainable critical material supply chains and reducing the environmental burden of traditional mining aligns with its ambitions to offer commercial plants to its growing pipeline of customers and technology license holders. Neometals' outlook appears geared towards furthering its position in sustainable processing solutions and contributing to the global transition to a circular economy.