Neometals Ltd Neometals Shares Commence Trading on OTCQX market

RNS Number : 5791O

Neometals Ltd

15 May 2024

 

15 May 2024

Neometals Ltd

("Neometals" or "the Company")

Neometals Shares Commence Trading on OTCQX market in the USA

Highlights

·      Neometals securities have commenced trading on the OTCQX® Market in the U.S. under the symbol "NMTAY";

·      Qualification and upgrade to OTCQX from the Pink® market is aimed at greater market exposure with a broader network of U.S. investors; and

·      No new securities have been issued as part of quotation on the OTCQX market.

Sustainable process technology developer, Neometals Ltd (ASX: NMT & AIM: NMT) ("Neometals" or "the Company"), is pleased to announce it has qualified to trade on the OTCQX Best Market in the U.S. under the symbol 'NMTAY'. Neometals Ltd. upgraded to OTCQX from the Pink market. U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for the company on https://www.otcmarkets.com/stock/NMTAY/overview.

Upgrading to the OTCQX Market is an important step for companies seeking to provide transparent trading for their U.S. investors.  For companies listed on a qualified international exchange, streamlined market standards enable them to utilize their home market reporting to make their information available in the U.S. To qualify for OTCQX, companies must meet high financial standards, follow best practice corporate governance and demonstrate compliance with applicable securities laws. 

Neometals Managing Director Chris Reed said:

"We are pleased to begin trading on the top tier of OTC Markets - OTCQX. The U.S. trading upgrade reflects a desire to provide additional visibility and gain greater market exposure and liquidity. Additionally, the OTCQX quotation will increase the number of US states to 40 that allow investors and equity analysts to recommend Neometals' American Depositary Receipts (1:10 ASX ORD/ ADR ratio).

With Neometals' strategy to enable critical material production from waste streams, and the increasing importance being placed on US domestic critical material supply resilience, the timing bodes well to broaden the audience to our sustainable battery and precious materials opportunities".

Rimon Law acted as the company's OTCQX sponsor.

-ENDS-

For more information, please contact:

 

Neometals Ltd
Chris Reed, Managing Director & Chief Executive Officer	[phone]
Jeremy McManus, General Manager - IP & IR	[phone]
Cavendish Capital Markets Ltd - NOMAD & Broker
Neil McDonald	[phone]
Peter Lynch	[phone]
Adam Rae	[phone]

 

About Neometals

Neometals facilitates sustainable critical material supply chains and reduces the environmental burden of traditional mining in the global transition to a circular economy.

The Company is commercialising a portfolio of sustainable processing solutions that recycle and recover critical materials from high-value waste streams.

Neometals' core focus is on the commercialisation of its patented, Lithium-ion Battery ("LiB") Recycling technology (50% NMT), under a plant supply and technology licensing business model.  Primobius GmbH is the 50:50 incorporated JV with 150-year-old German plant builder, SMS group GmbH, that is commercialising the technology. Primobius is building a 2,500tpa recycling plant for Mercedes-Benz under a long-term Cooperation Agreement.  It also operates its own LiB disposal service in Germany and plans to offer its first commercial 21,000tpa plant to North American licensee, Stelco, in JunQ 2025.

Neometals is also developing two advanced battery materials technologies for commercialisation under low-risk, low-capex technology licensing business models:

·      Lithium Chemicals (70% NMT) - Patented ELi™ electrolysis process, co-owned 30% by Mineral Resources Ltd, to produce battery quality lithium hydroxide from brine and/or hard-rock feedstocks at lowest quartile operating costs. Pilot scale test work and Engineering Cost Study update planned for completion in DecQ 2024; and

·      Vanadium Recovery (100% NMT) - Patent pending hydrometallurgical process to produce high-purity vanadium pentoxide from steelmaking by-product ("Slag") at lowest-quartile operating cost and carbon footprint.

For further information visit www.neometals.com.au

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