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recycling SONAL 22 January 2021 titanium Ti vanadium V QUARTERLY ACTIVITIES REPORT For the quarter ended 31 December 2020 HIGHLIGHTS CORPORATE Cash A $ 72.6 million , receivables and investments of A $ 7.2 million and no debt ; and Neometals All the right elements Nm Delivery of inaugural sustainability report highlighting long - term commitment to ESG principles and reporting . CORE DEVELOPMENT ACTIVITIES Lithium - ion Battery ( " LIB " ) Recycling Project Strong technical and commercial progress towards trialling and building Europe's largest sustainable LIB recycling operation with partner SMS group GmbH ( via Primobius JV ) ; Procurement activities materially complete and construction activities have commenced for German showcase demonstration plant following permitting ; Multiple product evaluation agreements in place with end users / potential off - takers and battery feed for the demonstration trials secured from the automotive industry ; and Primobius entered MoU with Slovakian LIB manufacturer , InoBat j.s.a. , to evaluate development of a jointly owned operation in the territory of Slovakia and Hungary , highlighting potential for growth . Vanadium Recovery Project ( " VRP " ) Mini - pilot metallurgical test - work significantly increases confidence in proprietary vanadium recovery technology with exceptional purity ( > 99.5 % V₂05 ) , high recoveries ( 75 % ) and reduced leach residence times being achieved ; Hatch Engineering appointed to manage a pre - feasibility study ; and Australian pilot plant design underway and industrial land adjacent to the Port of Pori , in Finland chosen as location for commercial VRP . Lithium Refinery Project ( " LR " ) Jointly funded Class 3 feasibility study for proposed Indian lithium refinery JV , utilising Neometals ' Mt Marion concentrate rights , in final stages with completion targeted in the June Q 2021 . Barrambie Titanium and Vanadium Project ( " Barrambie " ) Metallurgical breakthrough generates separate , marketable ilmenite ( titanium ) and iron - vanadium concentrates triggering early contractor engagement with potential mine - to - port service providers ; and Neometals Chinese partner ( IMUMR * ) confirming breakthrough using 1 tonne gravity concentrate sample . Chinese validation is key in securing potential product off - take agreements . EXPLORATION ACTIVITIES Mt Edwards global Mineral Resources increased to 8.74 million tonnes at 1.7 % nickel for 147,000 tonnes of contained nickel , courtesy of new estimates for the 132N and Zabel deposits ** ; and The location , prospectivity and proximity to essential infrastructure and processing facilities provides outstanding leverage to the strengthening prices and long - term fundamentals of the nickel market . Neometals continues to evaluate strategic opportunities to realise and return value for shareholders . * The Institute of Multipurpose Utilisation of Mineral Resources ** ASX Announcement entitled " Zabel Nickel Mineral Resource Update at Mt Edwards " - released on 23rd December 2020 ACN 099 116 361 Level 1 , 1292 Hay Street Locked Bag 8 West Perth WA 6872 T : +61 8 9322 1182 F : +61 8 9321 0556 West Perth WA 6005 info@neometals.com.au