Neometals (ASX: $NMT) Precious Metals Due Diligence Update

Neometals Ltd (ASX: $NMT), a sustainable process technology developer, has provided an update on the initial metallurgical test work program completed in the Precious Metals Recovery LLC pilot plant located in Colorado, USA. The company has entered an option to acquire an 80% equity interest of US business PMR, which owns and operates a pilot plant demonstrating its proprietary hydrometallurgical process to selectively recover precious metals from certain industrial waste streams.

Executive Commentary on Precious Metals Recovery Progress

The initial six-week pilot-scale metallurgical test work program yielded encouraging yet highly variable results. Approximately 4.28 tonnes of two purchased feedstocks were processed in 10 campaigns to verify and validate the process across a range of scenarios. The company has commenced the second phase of test work on the preferred feedstock, reagent regime, and recovery technique to confirm repeatability of results from the initial test work, with completion expected in June and results in July.

Summary of Neometals' Precious Metals Recovery Update

Neometals' update on the precious metals recovery progress highlights the completion of the initial six-week pilot-scale metallurgical test work program, which yielded encouraging yet highly variable results. The company is now progressing to the second phase of test work to confirm the repeatability of results from the initial test work. The results of the Phase 2 Trial will be used as the basis for preparing an operating and financial model to consider the investment case along with further legal and financial due diligence. Neometals will continue to update the market regarding progress on the key milestones, and the decision to exercise the option to acquire PMR remains subject to the outcome of ongoing due diligence on PMR and its business.