Chairman's AGM 2022 Address

RNS Number : 6252H

Neometals Ltd

25 November 2022

 

25 November 2022

Neometals Ltd

("Neometals" or "the Company")

Chairman's AGM 2022 Address

The last year has been a continuation of the Neometals' development journey with the Company's core projects continuing to meet both technical and commercial milestones ahead of pending financial investment decisions in 2023.

As the global business community emerged from COVID 19 headwinds, the Company maintained its strategic focus of enhancing shareholder value. Neometals finished financial year 2022 with a year on year share price increase of approximately 100% and delivered a successful outcome to its nickel demerger that allowed a distribution in specie to shareholders of Widgie Nickel shares.

Neometals has made significant progress in the advancement of its core projects, supporting its strategic pivot away from upstream minerals towards more sustainable materials recovery and processing opportunities. I will leave it to our CEO Chris Reed in his presentation to speak to the highlights of NMT's progress on the business front. I will mention 3 key underpinnings to the Company's success to date.

1.  Business Discipline

An unwavering focus on strategic priorities, relevancies and outcomes, including discipline in project management and risk mitigation, and long-term capital planning awareness. This discipline has been evidenced in our partnering business model with globally relevant and strong counterparties, as well as our UK AIM compliance listing strategy effected earlier this year. Our balance sheet remains robust to support the Company's business initiatives up to financial investment decision.

2.  Sustainability/EESG Thematic

Major capital allocation decisions by investment fund managers are increasingly demanding sustainability/ESG performance outcomes. With NMT's focus on the EV/battery materials and circular economy thematic, your Company delivers against the requirements of such investment fund managers in spades. Importantly though, NMT puts an extra economic "E" into "ESG", to make its focus EESG, in response to the vitally important and socially responsible economic role your Company plays in society: in its sustainable production of essential materials of social/economic value and utility; in its employment, remuneration and professional development and career advancement of its staff and contractors; in its payment of its fair share of government taxes and royalties; and in its financial return to shareholders who then apply those returns with an economic multiplier effect for broader socio-economic benefit. The Company's 2022 Sustainability Report is testament to this.

3.  Commitment to and of our People

NMT respects and supports its strong, committed, stable and highly valued workforce. It is their dedication and output that has driven NMT's success, including through challenging COVID times. We are indebted for their service.

Neometals is clear on its strategy and purpose. The Company innovatively develops opportunities in minerals and advanced materials essential for a sustainable future. In financial year 2022, your Company's Board and management delivered on that purpose and continue to do so into the future. Multiple maturing exposures to the energy transition megatrend, ESG and decarbonisation tailwinds, a pathway to a basket of critical supply constrained battery materials and investors with a growing awareness of Neometals' exciting opportunities at hand, all bode well for another successful year ahead.

In closing, I thank you, and all our stakeholders, for your ongoing support. Steven Cole - Chair Neometals Ltd

View the full AGM Presentation on the Neometals website: https://www.neometals.com.au/investors/presentations/

Authorised for release to ASX by the Board of Neometals.

ENDS

For more information, please contact:

Neometals Ltd
Chris Reed, Managing Director & Chief Executive Officer	[phone]
Jeremy McManus, General Manager - Commercial & Investor Relations	[phone]
Cenkos Securities plc - NOMAD & Joint Broker
Neil McDonald	[phone]
Peter Lynch	[phone]
Adam Rae	[phone]
RBC Capital Markets - Joint Broker	[phone]
Jonathan Hardy
Jamil Miah
Camarco PR	+ 44(0) 20 3 757 4980
Gordon Poole
Charlotte Hollinshead
Lily Pettifar

About Neometals Ltd 

Neometals' focus is the continuous development and innovative commercialisation of our proprietary technologies to achieve our Purpose in collaboration with strong global partners.

Neometals believes that the demand for environmentally and ethically sourced battery materials will continue to grow with energy storage being the key enabler for the energy transition. Decarbonisation, sustainability and resilient supply chains are the key challenges for the energy storage and electric vehicle supply chain. Our technologies, particularly those in battery materials recycling and recovery, reduce reliance on traditional mining and processing, and support circular economic principles.

Neometals have three core battery materials businesses commercialising proprietary, low-cost, low-carbon process technologies:

· Lithium-ion Battery Recycling (50% equity)- to produce nickel, cobalt and lithium from production scrap and end-of-life lithium-ion batteries in an incorporated JV with leading global plant builder SMS group. The Primobius JV is operating a commercial disposal service at its 10tpd plant in Germany and is the recycling technology partner to Mercedez-Benz.  Primobious' first 50tpd operation will be in Canada, an investment decision to partner with Stelco is expected to reach investment decision in MarQ 2023;

· Vanadium Recovery (earning 50% equity) - to produce high-purity vanadium pentoxide via processing of steelmaking by-product ("Slag"). Finalising evaluation studies on a 300,000tpa operation in Pori, Finland and potential joint venture with Critical Metals, underpinned by a 2Mt, 10-year Slag supply agreement with leading Scandinavian steelmaker SSAB. Investment decision expected end Dec 2022. MOU with H2Green Steel for up to 4Mt of Slag underpins a potential second, operation in Boden, Sweden; and

· Lithium Chemicals (earning 35% equity)- to produce lithium hydroxide from brine and/or hard rock feedstocks using our ELi® electrolysis process. Co-funding pilot plant and evaluation studies on a 25,000tpa operation in Estrarreja, Portugal towards a potential JV with technology co-owner Mineral Resources Ltd and Portugal's largest chemical producer Bondalti Chemicals S.A. Investment decision expected Dec 2023.

 

END

 

 

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