Claim 70% Off TipRanks This Holiday Season
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
The latest update is out from Neometals Ltd ( (AU:NMT) ).
Neometals announced that EIT RawMaterials will invest a further €1.5 million in Novana Oy, the Neometals-backed developer of the Finnish Vanadium Recovery Project (VRP1), to fund technical and commercial work, including piloting a novel beneficiation process intended to enhance project economics and support the project financing process. The new funding, EIT RawMaterials’ third investment round in the project, follows substantial conditional grant support from Finnish authorities and comes alongside a proposed no-cost option for EIT RawMaterials to increase its stake in Recycling Industries Scandinavia AB, underscoring growing EU-backed confidence in VRP1 as a prospective first domestic source of high-purity vanadium for Europe and signalling potential dilution of Neometals’ indirect interest as external equity and debt are raised.
More about Neometals Ltd
Neometals Ltd is an Australia-listed company focused on developing and commercialising innovative, low-carbon technologies for recovering and producing critical battery and specialty metals. Through subsidiaries and partners, it targets projects such as vanadium recovery in Europe, aiming to supply high-purity materials to industries including high-strength steel, aerospace alloys and stationary energy storage.
YTD Price Performance: -29.33%
Average Trading Volume: 809,166
Technical Sentiment Signal: Sell
Current Market Cap: A$40.84M
For a thorough assessment of NMT stock, go to TipRanks’ Stock Analysis page.