• Viewed 10,240 times by 3014 users (Last 30 days)
  • print Created with Sketch. Print

Corporate Spotlight

Neometals has two key divisions - a fully integrated Lithium business and a Titanium-Vanadium development business. Both are supported by proprietary technologies that assist downstream integration through revenue enhancement and cost efficiencies.
View the full Corporate Spotlight arrow Created with Sketch.

Interview mit Christopher Reed von Neometals Ltd

FURTHER DRILL RESULTS

arrow-down-2 Created with Sketch.

FURTHER NICKEL DRILL RESULTS AT MT EDWARDS

ASX Announcement 9 October 2019 


HIGHLIGHTS 

  • High grade nickel sulphide assay results from drilling at the recently acquired Munda deposit in Western Australia 
  • Drill results include 8.3 metres @ 2.16% nickel including 2.3m @ 6.11% nickel  


Neometals Ltd (ASX: NMT) (“Neometals” or “the Company”) is pleased to announce assay results from diamond core drilling at the recently acquired Munda deposit (“Munda”), which now forms part of the Mt Edwards Project. Neometals, via its subsidiary Mt Edwards Lithium Pty Ltd, acquired nickel mineral rights for the Munda mining lease M15/87 (refer to Figure 4) from WA Nickel Pty Ltd, a wholly owned subsidiary of Estrella Resources Ltd (“Estrella”) on 6 September 2019 for $250,0001 . Neometals already holds the lithium mineral rights to M15/87 2 .


Following  acquisition  of  the  nickel  mineral  rights,  Neometals  arranged  for  previously  unassayed  diamond  core  from  holes EMD001 and EMD002 (drilled in July 2019 by Estrella) to be cut, sampled and submitted for assay. The assay results confirm an 8.3 metre (down hole width) zone of nickel sulphide mineralisation from 93 metres down hole, with an enriched zone of 2.3m @ 6.11% nickel at the base of the ultramafic unit.   



The  nickel  sulphide  intersection  in  EMD002  comprised  6m  of  disseminated  nickel  sulphide  (93.0m‐99.0m),  1.6m  of matrix sulphide (99.0m‐100.6m), 0.4m of semi‐massive sulphide (100.6m‐101.0m) and 0.3m of stringer sulphide (101.0m‐101.3m) on the basal contact with the underlying basalt (Figures 1‐ 3).  EMD001 intersected 3m of disseminated and minor remobilised sulphides (between 124.0m‐127.0m) above the basal contact.   



Drilling was designed by Estrella to target postulated high‐grade gold shoots that have been 3D modelled using historical drilling completed by Western Mining Corporation, Titan Resources, Consolidated Minerals and Eureka Mining. Whilst gold was the target, the holes were projected to intersect the ultramafic basal contact and test for Nickel Sulphides. 



Munda is located within the nickel rich Widgiemooltha region, surrounded by Neometals’ Mt Edwards Project (see Figure 4 below).   The historical 26N Mt Edwards underground nickel mine, which produced 951,568 tonnes at 2.7% Nickel for 25,633 tonnes of nickel metal between the years 1980 to 1996, is located less than 2km north of the Munda deposit on the same geological contact.



The nickel sulphides at Munda are hosted in ultramafic rocks and display classic “Kambalda‐Style” komatiitic textures which are consistent with nearby nickel deposits and mines. The fact that the nickel sulphide intersections occurred at the basal contact with the underlying basalt is encouraging as the contact is the host to most of the nickel sulphide deposits in the Kambalda‐ Widgiemooltha district.  


The Company will accelerate efforts to review the Munda nickel project with a view to estimating a Mineral Resource. Neometals remains highly encouraged by the results generated from the targeted 2019 nickel exploration program being run at Mt Edwards, and the Munda acquisition continues the theme.  


Click here to view the full announcement

QUARTERLY

arrow-down-2 Created with Sketch.

QUARTERLY ACTIVITIES REPORT 

For the quarter ended 31 March 2019

ASX Announcement 30 April 2019 


HIGHLIGHTS 


CORPORATE 

Completion of Mt Marion Mine equity divestment to Ganfeng and Mineral Resources. A$103.8 million cash proceeds plus life of mine offtake option agreement for 57,000 tpa of Mt Marion 6% spodumene concentrate; 

Neometals’ strategy remains to de‐risk and develop projects with strong partners and integrate down the value chain to increase margins and return value to shareholders; and 

Cash $129.6 million, receivables and investments at $10.2 million. 


CORE PROJECTS 

  • Short term project development and near‐term budget priorities: 
    • 1. Barrambie Vanadium and Titanium project 
    • 2. Lithium‐ion Battery Recycling project 
    • 3. Lithium Refinery project 
  • Update to Barrambie primary vanadium salt roast leach DFS substantially complete; 
  • Continued advancement of Barrambie permitting, metallurgical test‐work and market development to exploit titanium and iron as well as the vanadium resource; 
  • Commencement of lithium‐ion  battery pilot  test‐work in  Lakefield Canada. Stage  1  feed  preparation  trial successfully commissioned with Stage 2 leaching and refining underway; 
  • Discussions advancing with potential partners and stakeholders for lithium‐ion battery recycling; 
  • Annual  off‐take  option  from Mt Marion  provides  significant  flexibility  on  development  timing  for  lithium refinery  project.  The  Company  is  advancing  a  number  of  cost  improvement  initiatives  before  further evaluation studies; and 
  • Positive feedback from initial zeolite customer product evaluation. Synthesis of multiple types of zeolite from multiple  sources  of  spodumene  leach  residue achieved.  Pilot  plant  planned  for Q3  2019. Opportunity  to integrate with proposed lithium refinery or as stand‐alone projects utilising leach residue from spodumene conversion facilities. 


LONG TERM PROJECTS 

  • New pegmatite target areas identified at Mt Edwards and commercial options to realise value for nickel resources being assessed.


COMPANY OVERVIEW 

Neometals Ltd (“Neometals” ‐ ASX:NMT) is a project developer and supplier of strategic materials, with a specific focus on targeting higher margins from downstream opportunities. The Company has three advanced core projects listed below: 

  • Barrambie Titanium and Vanadium Project ‐ one of the world’s highest‐grade hard‐rock titanium‐vanadium deposits, working towards a development decision in the next financial year. 
  • Lithium‐ion Battery Recycling – a proprietary process for recovering cobalt, nickel, lithium and other valuable materials from spent lithium batteries. Pilot plant testing currently underway with commercial development decision expected in the next financial year 
  • Kalgoorlie Lithium Refinery Project – Progressing engineering and approvals processes for a lithium refinery development to supply lithium hydroxide to the battery cathode industry, underpinned by a binding life‐of‐ mine annual offtake option for 57,000 tonnes per annum of Mt Marion 6% spodumene concentrate


Neometals’ strategy focuses on de‐risking and developing long life projects with strong partners and integrating down the value chain to increase margins and return value to shareholders.


Figure 1 – Location map of Neometals’ JORC 2012 Mineral Resource Estimates 


Click here to view the full announcement

BOARD

arrow-down-2 Created with Sketch.

Board of Directors


Chairman

STEVEN COLE Llb (Hons) FAICD

Steven has 35 years of professional, corporate and business experience through senior legal consultancy, as well as a range of executive management and non executive appointments. His extensive boardroom and board sub-committee experience includes ASX listed, statutory, proprietary and NFP organisations covering the industrial, financial, educational, professional services, health and resources sectors.


Managing Director

CHRISTOPHER REED BCom GradCertMinEcon ASA MAusIMM

Chris started in the mining industry in 1990 and co-founded Reed Resources in 2001. Chris holds a Bachelor of Commerce from the University of Notre Dame and a Graduate Certificate in Mineral Economics from WA School of Mines. He is a Member of the AusIMM and Vice-President of the Association of Mining & Exploration Companies.


Non-Executive Director

DAVID REED OAM FCPA

David was born and raised in Kalgoorlie. He commenced stockbroking in 1963, qualified as an accountant in 1967 and became a member of the Perth Stock Exchange in 1971. His firm RW & DJ Reed merged with TE Eyres in 1981 and became Eyres Reed Ltd which was subsequently purchased by CIBC Wood Gundy in 1997. David was a director and Chairman of CIBC Australia Limited. David has been a prospector, former secretary of the Amalgamated Prospectors and Leaseholders Association and private mine owner. In 1984 David founded Mt. Martin Gold Mines NL, which with partner Newmont Australia developed the million ounce New Celebration Gold Mine. Mt. Martin merged with nickel producer Titan Resources NL (ASX Code:TIR) where David was Chairman from 1991 to 1997. In 1998 David was admitted as a Fellow of the Certified Practicing Accountants. In recognition of his service to the community he was awarded the Order of Australia Medal in 2002.


Non-Executive Director

NATALIA STRELTSOVA 

Natalia Streltsova is a PhD qualified chemical engineer with over 25 years experience in the minerals industry and an extensive background in mineral processing and hydrometallurgy across a range of commodities relevant to Neometals. Her previous roles have included Director of Technical Development at Vale (formerly CVRD), Development Manager at GRD Minproc and senior technical roles at BHP Billiton and WMC Resources that involved considerable interaction with operations to identify and implement innovative projects to increase production and reduce costs.  Dr Streltsova has considerable international experience in technical and business development capacities, in South America, Africa and the Former Soviet Union and is currently a Non‐Executive Director of Potash West NL. 


Non-Executive Director

DOUG RITCHIE 

Doug Ritchie is a senior resources industry executive with over 35 years experience, including over 28 years working with Rio Tinto in various senior management roles including CEO Rio Tinto Energy Australia and most recently the Group Executive of Strategy based in the UK. Mr Ritchie has considerable international corporate experience, including in China, and is currently a Non‐Executive Director of diversified mining company Arrium Limited and the Chairman of Uniquest, the University of Queensland’s commercialisation company.


WWW.NEOMETALS.COM.AU

VIDEOS

arrow-down-2 Created with Sketch.



DFS RESULTS

arrow-down-2 Created with Sketch.

DFS RESULTS FOR BARRAMBIE VANADIUM PRODUCTION AND COMMENCEMENT OF TITANIUM PILOT PROGRAM

ASX Announcement 22 May 2019 


HIGHLIGHTS 

Figure 1: Highlights of study 

  • Neometals confirms primary production of vanadium pentoxide and ferrovanadium from vanadium-rich Central Bands to be technically feasible and economically viable 
  • Revised DFS focused on vanadium production only (primarily from Central Bands). Next step to determine how to extract value from titanium which represents ~95% of contained Barrambie resource metal 
  • Commenced staged pilot-scale evaluation of conventional hydrometallurgical flowsheets to recover titanium and vanadiumfrom the titanium-rich Eastern Band 
  • Pilot to provide data to upgrade the accuracy of 2015 PFS to DFS standard and determine optimal flowsheet to process ‘whole of deposit’ before commencing a FEED Study 
  • A Canadian NI 43-101 Technical Report is nearing completion as a capstone document for ongoing offtake, partner and financing discussions


Industrial mineral and advanced materials project developer, Neometals Ltd (ASX: NMT) (“Neometals” or the “Company”), is pleased to announce the completion of an update to its 2009 Definitive Feasibility Study (“RevisedDFS”) that considered primary vanadium production from the conventional salt roast-leach process at its 100% owned Barrambie Vanadium-Titanium-Magnetite (“VTM”) project (“Barrambie”). The RevisedDFS used the latest Neometals 2018 Mineral Resource Estimate as a basis (see Neometals ASX announcement dated 17th April 2018, titled ‘Updated Barrambie Mineral Resource Estimate’ available at www.neometals.com.au). The Revised DFS establishes Ore Reserves, estimated using the guidelines of the 2012 edition of the Australian Code for Reporting Exploration Results, Mineral Resources andOre Reserves “(JORC Code (2012))”. It also confirmsthe strong technical and financial merits of producing high purity vanadium pentoxide and ferrovanadium, primarily from Barrambie Central Band ore.


Figure 2: Ferrovanadium Industry Cash Cost Curve 2019 

Neometals has invested approximately $A30 million in the acquisition, exploration and evaluation of Barrambie since 2002. Given the size and scale of the hard-rock titanium and vanadium resources, the Company continues to evaluate a range of metallurgical processing routes seeking how best to realise value from both the titanium and vanadium minerals contained. Following the original 2009 DFS on primary vanadium production, the market experienced an extended period of depressedvanadium priceswhich spiked in 2018 before normalising in the first half of calendar year 2019.Neometals has maintained a focuson recoveringa titaniumco-product to maximise the probability of developing Barrambie and realising maximum value for shareholders.


A pre-feasibility study (“PFS”) was completed on a hydrometallurgical process which showed titanium chemical production to yield the highest returns (see Neometals ASX announcement dated 25th August 2015). Since 2017, Neometals has completed metallurgical drilling, bulk sample mining, beneficiation and pilot scale testing of the conventional pyrometallurgical process (electric-arc smelting) to recover titanium slag (intermediate product used in titanium pigment production)


Click here to view the full announcement 

(20min delay)
Last
21.0¢
Change
0.005(2.44%)
Mkt cap ! $114.3M
Open High Low Value Volume
20.5¢ 21.0¢ 20.0¢ $83.06K 398.0K

Buyers (Bids)

No. Vol. Price($)
5 235000 20.0¢
 

Sellers (Offers)

Price($) Vol. No.
21.5¢ 144201 5
View Market Depth
Last trade - 15.58pm 18/10/2019 (20 minute delay) ?
(live)
Last
21.0¢
  Change
0.005 ( 5.00 %)
Open High Low Volume
20.5¢ 21.0¢ 20.5¢ 37101
Last updated 14.02pm 18/10/2019 (live) ?
NMT (ASX) Chart
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.