Neometals (NMT) Q3 2025 TU earnings summary

Executive summary

• Progressed installation and commissioning of lithium-ion battery recycling plants, including for Mercedes-Benz in Germany, with acceptance testing underway for key circuits.

• Completed pilot trial of the ELi Process, producing high-purity lithium hydroxide monohydrate, and advanced discussions for industrial validation and funding.

• Vanadium Recovery Project received €0.494M in EU-backed funding, increasing EIT RawMaterials' stake and supporting project financing efforts.

• Completed maiden gold drilling at Barrambie, returning significant intercepts and extending mineralisation, with ongoing technical and heritage work.

• Continued discussions for divestment of Barrambie titanium and vanadium assets, including site due diligence visits.

Financial highlights

• Cash and term deposits at 31 March 2025 totaled A$7.1M, with investments of A$10.0M and net receivables of A$1.3M.

• No debt reported as of quarter end.

• Related party payments for the quarter were A$310,739, covering director fees and superannuation.

Outlook and guidance

• Industrial validation of the ELi Process is planned through continuous demonstration plant trials, with partner funding discussions ongoing.

• Project financing for the Vanadium Recovery Project is progressing, with multiple parties in the data room.

• Planned diamond drilling and heritage surveys at Barrambie to further define gold mineralisation and support future development.