May 18, 2016
Deep drilling at Mt Marion intersects broad zone of pegmatite
Deep Reverse Circulation drilling at the Mt Marion Lithium Project has intercepted significant, deep, spodumene‐bearing pegmatite in consecutive drill holes along a south‐westerly trend at Area 2 West within M15/1000.
Assays received to date include the following significant intercepts;
- 186m @ 1.82% from 95m
- 139m @ 1.69% from 116m
- 92m @ 1.54% from 56m
April 29, 2016
Quarterly Activities Report
Mt Marion Lithium Project
- First blast detonated at Pit 1 detonated March 2016 to commence waste removal in advance of mining ore.
- Mining of Pit 1 had commenced on schedule.
- NMT completed the sale of a further 18% of shares in RIM for US$27.1M after Ganfeng requested to exercise its option early.
- +40,000M Resource Extension and Infill drill program well‐advanced and continuing.
Lithium Hydroxide Project
- Work continued on the Engineering Cost Study by M+W for the project DFS and the DFS is on‐ schedule for completion in mid‐2016.
Barrambie Titanium Project
- Advanced the formal agreements associated with the exclusive licence (excluding Russia and China) for proprietary process to produce +99% pure titanium dioxide (TiO2).
Forrestania Nickel Project
- Binding conditional MoU to sell subsidiary Reed Exploration Pty Ltd to Hannans Reward Ltd.
- Declared a 2 cent unfranked dividend which was paid on 7 April 2016.
- Announced an on‐market buy‐back of ordinary shares to acquire up to a maximum of 5% of the Company’s current issued ordinary shares or A$5m worth of shares over 12 months.
- Cash and restricted access term deposits $65.2 million.
April 6, 2016
Neometals Ltd (ASX:NMT)(‘Neometals’ or the ‘Company’) advises that an investor presentation is being provided to investorsin Sydney and Melbourne during the course of this week, a copy of which follows this announcement.
Additionally, the Company can confirm that in accordance with the revised completion arrangements agreed with Ganfeng Lithium Co. Ltd, as announced to the ASX on 18 February 2016, completion of the sale and release of the remaining US$13.575 million to Neometals occurred on 31 March 2016.
Finally, the Company reminds shareholders that the dividend declared on 14 March 2016 will be paid to eligible shareholders on 7 April 2016.
March 4, 2016
Divestment of non-core Forrestania Nickel Assets & Investment in Hannans Reward Limited
Neometals Ltd advises it has executed a binding termsheet with Hannans Reward Limited under which Neometals will divest its Forrestania nickel assets via the sale of the Company’s subsidiary company, Reed Exploration Pty Ltd. The transaction is consistent with Neometals’ ongoing strategy to divest non-core assets and focus on the development of its lithium and advanced materials business.
In addition, Neometals will assist Hannans Reward subsidiary Scandinavian Resources to realise lithium, cobalt and carbon opportunities in Scandinavia through a technical assistance arrangement.
February 24, 2016
Return to Shareholders and On-market Share Buy-Back
2 cent per share return to shareholders split between capital return (subject to shareholder meeting approval) and unfranked dividend, depending on ATO ruling.
On‐market share buy‐back of up to a maximum of 5% of issued capital (limited to $5 million worth of shares bought back) over 12 months and unmarketable parcel sale facility
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