Neometals (NMT) Q4 2024 TU earnings summary

Executive summary

• Cash balance at quarter-end was $9.8 million, with investments, receivables, and inventories totaling $15.5 million and no debt.

• Focus remains on commercializing sustainable processing solutions for critical materials, especially lithium-ion battery recycling, lithium chemicals, and vanadium recovery.

• Ongoing cost reduction measures include reduced project outflows, staffing, and administrative costs.

Financial highlights

• Cash and term deposits totaled $9.8 million as of June 30, 2024, including $0.3 million in restricted deposits.

• Investments amounted to $14.2 million, net receivables $1.0 million, and inventories $0.3 million.

• No debt reported.

• Related party payments for the quarter were $250,000, covering director fees and superannuation.

Outlook and guidance

• Pilot and engineering cost study for the ELiTM lithium process expected to complete by December 2024.

• Results from long-duration pilot electrolysis trials for lithium chemicals anticipated in the September quarter.

• Commercial 21,000tpa battery recycling plant to be offered to Stelco in June quarter 2025.