February 3, 2016
Mt Marion Lithium - Ganfeng Exercises Option Early
Neometals and MIN are pleased to advise the approval of Ganfeng’s request to accelerate the exercise of its option to acquire an additional 18.1% of Reed Industrial Minerals Pty Ltd (”RIM”) from Neometals, taking its shareholding in RIM to 43.1%. Neometals will receive US$27.15 million from the exercise of the option. Financial close is expected to occur within ten business days.
This will result in the joint venturers’ equity interests being Ganfeng 43.1%, Process Minerals International Pty Ltd, MIN’s wholly owned subsidiary (“PMI”) 30% and Neometals 26.9%.
February 1, 2016
Expansion drilling at Mt Marion Lithium Project yields positive results
During the December Quarter, 46 RC holes were drilled at the No.6 Deposit, for a total of 2,324 metres and 9 (83mm‐PQ) Diamond holes were drilled for a total of 693.2 metres on Deposits 1,2 and 2West.
The infill and extension drilling program has prioritised the near surface mineralisation. The drilling to date has identified that the mineralisation is laterally wider to the east, open to the north and east and possibly faulted off to the west. Generally the ore horizon is thicker than previously reported by Mineral Resources.
The first phase of the resource infill and extension project is targeted at extending the size and increasing the classification of the existing resources at Deposits 1,2,2West and 6, and newly acquired lithium, rights on part of Hampton Location 53
New mineral resource and ore reserve estimates are planned for completion in the June and September Quarters respectively.
January 28, 2016
Lithium offtake arrangements expanded at Mt Marion Project
Neometals and MIN are pleased to advise that Ganfeng has agreed to expand the scope of the offtake arrangements to take-or-pay an additional 80,000 tpa of spodumene concentrate of between 4% and 6% Li2O content at agreed discounts to the market prices for the 6% Li2O product
December 10, 2015
Secures exclusive rights to proprietary technology
November 27, 2015
Presentation on the future of batteries and lithium
Presentations given by Prof Ray Wills and Prof Dudley Kingsnorth on the future of batteries, lithium and lithium supplies.
Presentation slides: http://www.neometals.com.au/reports/629-All-presentations.pdf
November 11, 2015
Lithium Hydroxide - Definitive Feasibility Study Commences
Neometals Ltd and Mineral Resources Limited are pleased to announce the commencement of a Definitive Feasibility Study on their patented ELi Process, to produce 20,000 tonnes per annum of batterygrade Lithium Hydroxide directly from spodumene concentrates.
November 6, 2015
Resource Expansion and In-fill Drilling Commences at Mt Marion
Neometals Ltd, Mineral Resources Limited and Jiangxi Ganfeng Lithium Co., Ltd are pleased to announce the start of a strategic resource expansion program at the Mt Marion Lithium Project in which up to 335 reverse circulation (RC) holes and 30 diamond holes will be drilled.
The RC and diamond drilling program is aimed at extending the open pitable minelife through the extension to and in-fill drilling of existing deposits, as well as the definition of new resources from outcropping pegmatite prospects on lithium rights acquired from Metals X Ltd in July 2015.
The drill program is expected to be completed in the March quarter 2016, with an upgraded Mineral Resource Estimate and Ore Reserve planned to be completed in the June quarter 2016.
October 29, 2015
Quarterly Activities Report
Mt Marion Lithium Project
- Construction of Mt Marion Lithium concentrate operation commences following positive Final Investment Decision and financial completion of Offtake and Equity Investment by Jiangxi Ganfeng Lithium Co. Ltd, China’s second largest lithium producer.
- Neometals received US$19.75M, with Mt Marion project equity decreasing to 45%.
- First production of lithium concentrate expected mid-2016.
- Project development including Mine-to-Port solution fully funded by Mineral Resources Ltd on a Build-Own-Operate basis.
- New Mineral Resource Estimate increases contained lithium by 60%.
Barrambie Titanium Project
- Pre-feasibility Study confirms technical feasibility and financial viability of a licenced proprietary process to produce +99% pure titanium dioxide (TiO2).
- Potential lowest quartile operating cost per tonne of pure TiO2 produced after by-product credits. Pre-tax NPV12% US$355 million.
- Cash and restricted access term deposits $34 million.
- Ongoing evaluation of opportunities to divestment nickel portfolio.
October 9, 2015
Grant of Performance Rights & Change of Director's interest
September 28, 2015
Mt Marion Lithium Project - Financial close and Final Investment Decision
Neometals Ltd (ASX: NMT) (“Neometals”) and Mineral Resources Limited (ASX: MIN) (“MIN” – via its wholly owned subsidiary, Process Minerals International Pty Ltd) are pleased to announce the start of the construction phase of the Mt Marion Lithium Project following the Final Investment Decision.
First production is expected by mid-2016 from the Project, which is designed to produce more than 200,000tpa of chemical grade spodumene concentrate.
Neometals and MIN advise that financial close has occurred regarding the formal agreements executed with China’s second largest lithium producer, Jiangxi Ganfeng Lithium Co., Ltd (“Ganfeng”), in respect of Ganfeng’s equity investment in the Mount Marion Lithium Project.
As contemplated by the Share Sale, Subscription and Option Agreement, the parties have entered into a Shareholders Agreement to govern their investments in Reed Industrial Minerals Pty Ltd (“RIM”), the owner of the Project.
In addition, RIM has entered into a life-of-mine Offtake Agreement with Ganfeng, and a Mining Services Agreement with MIN for the construction and operation of the Project on a Build-Own-Operate basis. The completion of these agreements constitutes the Final Investment Decision.
A summary of the key terms of the agreements is set out in the annexure to this announcement.
Neometals has received a net amount of US$19.75 million from Ganfeng in respect to the equity investment in RIM.
September 23, 2015
Mt Marion Lithium Project - Transaction Unconditional
Neometals Ltd (ASX: NMT) (“Neometals”) and Mineral Resources Limited (ASX: MIN) (“MIN” – via its wholly owned subsidiary, Process Minerals International Pty Ltd) refer to their previous announcements regarding the execution of formal agreements with China’s second largest lithium producer, Jiangxi Ganfeng Lithium Co., Ltd (“Ganfeng”), in respect of Ganfeng’s equity investment in the Mount Marion Lithium Project.
Neometals and MIN are pleased to advise that the transaction is now unconditional. Financial close is expected to occur within the next 2 weeks.