Ann: Battery Recycling - Outstanding Pilot Plant Results, page-2

BATTERY RECYCLING PILOT UPDATE – KEY COBALT
MILESTONE ACHIEVED
HIGHLIGHTS
• Independent pilot test-work generates high purity (+99%) cobalt sulphate product at high recovery rate (+98%)
• Project economics strongly driven by cobalt, recoveries to date exceed scoping study assumptions
• Pilot test-work advancing well with copper, cobalt and manganese recovery complete – nickel and lithium to
commence imminently with substantive completion in December 2019
• Successful pilot results are the key milestone for 50:50 JV formation with German conglomerate, SMS Group
• Joint preparations underway for European demonstration plant and engineering cost study
Neometals Ltd (ASX: NMT) (“Neometals” or “the Compaccessful recovery of high purity (+99%) cobalt sulphate from the hydrometallurgical
processing stage of its patent pending recycling technology. Importantly, cobalt recovery from feed into the hydrometallurgical
processing stage exceeded 98%.
Pilot test-work being undertaken by SGS Canada Inc. (“SGS”) represents part of the pre-development activities for a proposed
commercial LIB recycling venture targeting greater than 90% recovery of LIB materials from electric vehicle and consumer
electronics production scrap and end-of-life cells. Neometals successfully shredded and processed 2.3tonnes ofspent commercial
LIBs during the Feed Preparation Stageof the Pilot. A total of 980 kg of unbeneficiatedmixed cathode and anodematerials(“Black
Powder”) were fed into the subsequent Hydrometallurgical Processing stage from which cathode metals are currently being
recovered and refined into high-purity chemical products.
The Hydrometallurgical Processing stage leaches the Black Powder andsequentially recovers cathode materialswhich are refined
to generate high-purity chemical products for sale directly into the battery supply chain. The Pilot test-work program draws
towards completion with copper, manganese and now cobalt sulphates having been recovered. The recovery of nickel and lithium
into sulphate products will commence imminently.
The recovery rate of cobalt sulphate exceeds Neometals expectations and represents a significant milestone in the confirmation
of the technical feasibility of the proprietary process. The recovery of cobalt and nickel are key drivers of the project economics
and these results strongly support the results of previous economic evaluations.
The Company remains on schedule for substantive Pilot completion in December 2019.