Neometals (NMT) Q1 2025 TU earnings summary

Executive summary

• Cash balance of A$7.8M, investments and net receivables of A$13.8M, and no debt as of 30 September 2024.

• Organisational restructure and right-sizing executed to focus on commercialisation of Primobius, with US$3M (~A$4.5M) raised from a placement to a long-term shareholder.

• Core focus on commercialising lithium-ion battery recycling via Primobius JV, with ongoing projects in lithium chemicals and vanadium recovery.

Financial highlights

• Cash and term deposits on hand totalled $7.8M, including $0.3M in restricted use term deposits.

• Investments totalled $13.3M, with net receivables of $0.5M.

• No debt reported as of quarter end.

• Related party payments for the quarter were $305,750, comprising Director fees and superannuation.

Outlook and guidance

• Commercial-scale Spoke and Hub plants for battery recycling targeted for product readiness in 1H and 2H of 2025, respectively.

• Final stage crystallisation of lithium product expected to be completed and reported in December quarter 2024.

• Ongoing partner selection process for lithium chemicals technology to fund next stage of commercialisation.