General Neometals related news, page-3771

In terms of vanadium recovery.

Binding agreements before the end of November.Finnish government guaranteeing 80% of the face value of the commercial debt.

The company will dilute down equity in "the first project", but "the business" will continue to own 100% of the technology and IP.

The processing royalty is 2.5%.

"The first project" is this one plant being built, which will cost $400m Euro.

NMT currently own 72.5% of the unfunded "first project" plant, where the partner who funds the $160m Euro ($265m AUD) equity part build of the plant (assuming the remaining $240m Euro being debt) will likely own a large majority, because without the money being put up, the loans don't get approved and the plant doesn't get built.

NMT have brought in the 80% guarantee from the Finnish government, along with Glencoe as an off take partner, so they aren't just bringing "the technology".

I think if the funding partner wants 70% of "the plant" (my speculation), this would mean NMT would still retain roughly 75% of the remaining 30%, or about 22% of the entire plant.

I think this would not be a bad outcome.

Then there's the second plant with H2 Green Steel, and potentially more plants.