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recycling 30 April 2021 titanium Ti vanadium V SONAL Neometals All the right elements Nm QUARTERLY ACTIVITIES REPORT For the quarter ended 31 March 2021 HIGHLIGHTS CORPORATE Cash A $ 67.5 million , receivables and investments of A $ 14.1 million and no debt . CORE DEVELOPMENT ACTIVITIES Lithium - ion Battery ( " LIB " ) Recycling Project ( via 50:50 JV Primobius GmbH , with SMS Group GmbH ) Demonstration Plant ( " DP " ) construction activities on track for commissioning phase in May and trials in July 2021 ; LIB feedstocks secured from electric vehicle and energy storage system manufacturers for DP . Multiple testing and evaluation agreements signed for key DP product output ; Primobius GmbH entered into a Memorandum of Understanding ( “ MOU ” ) with Itochu Corporation of Japan to evaluate the recycling of end - of - life batteries from its stationary energy storage business ; and Class 3 Engineering Cost and Site Selection Studies underway as part of the Feasibility Study for Primobius ' first commercial operation with a design throughput of 20,000tpa . Vanadium Recovery Project ( " VRP " ) ( earning into 50:50 JV with Critical Metals Ltd ) • Engineering Cost Study completed and Pre - feasibility Study on schedule for completion in JunQ 2021 ; Independent life cycle assessment highlights potential for zero carbon vanadium production ; Pilot plant construction in Perth on schedule for JunQ 2021 commissioning and pilot trials in July ; and Permitting activities for Finnish processing site well advanced with Environmental Impact Assessment Program submitted post the quarter . Lithium Refinery Project ( " LR " ) ( co - funding evaluation on 50:50 basis with Manikaran Power Ltd ) Jointly funded Class 3 Feasibility Study for proposed Indian lithium refinery JV , utilising Neometals ' Mt Marion concentrate rights , on schedule for completion in JunQ 2021 . Barrambie Titanium and Vanadium Project ( " Barrambie " ) ( 100 % NMT ) Large - scale pilot trial on Barrambie mineral concentrates completed by Chinese MOU partner , IMUMR * ; Subsequent to quarter end , Jiuxing Titanium Materials ( Liaonging ) Co. Ltd , signed an offtake MOU for titanium and iron - vanadium products ; and Leading mining service providers have been requested to provide proposals for the development of a mine and concentrator on a capital - light " Build - Own - Operate " basis . * The Institute of Multipurpose Utilisation of Mineral Resources EXPLORATION ACTIVITIES Maiden flotation test work as part of Mt Edwards ( 100 % NMT ) Mining Study identified the presence of material palladium in both nickel ore and concentrates from the Armstrong deposit . Highlights the potential for significant co - product revenue ; Mining Studies placed on hold pending review of palladium in the other 10 deposits , initial review of the drilling database indicates less than 10 % of +420,000 samples were assayed for palladium : and Neometals is finalising its evaluation of strategic options to realise the inherent value of Mt Edwards and deliver returns Neometals ' shareholders . ACN 099 116 361 Locked Bag 8 T : +61 8 9322 1182 Level 1 , 1292 Hay Street West Perth WA 6872 F : +61 8 9321 0556 West Perth WA 6005 info@neometals.com.au