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recycling 30 July 2021 titanium Ti vanadium V Som Neometals All the right elements Nm QUARTERLY ACTIVITIES REPORT For the quarter ended 30 June 2021 HIGHLIGHTS CORPORATE • Mt Marion spodumene offtake option relinquished for A $ 30 million ; Plans advanced to demerge the Mt Edwards nickel assets into a separate company seeking its own ASX listing ; Cash bolstered to A $ 98.2 million , receivables and investments of A $ 12.4 million and no debt ; and Preparations underway for Neometals London Stock Exchange AIM market dual listing . CORE DEVELOPMENT ACTIVITIES Lithium - ion Battery ( " LIB " ) Recycling Project ( 50 % NMT via Primobius GmbH , an incorporated JV with SMS Group GmbH ) . PFS level operating and capital cost estimates completed for commercial scale recycling operation in Europe ; German demonstration plant construction activities materially complete during the period . Shredding and beneficiation circuit commissioning announced immediately after quarter - end ; . MoU entered with the Steel Company of Canada ( " Stelco " ) for evaluation of a 50:50 JV in North America . Stelco is also the first partner focusing on securing large volumes of end - of - life EV batteries ; and Considerable commercial inroads made as feed supply and offtake evaluation dialogues mature . Vanadium Recovery Project ( " VRP " ) ( earning into 50:50 JV with Critical Metals Ltd ) • PFS confirms potential for lowest quartile cash costs and robust financial metrics ; . Pilot plant commissioned on schedule and operating at steady state , trial will process 13 tonnes of steel making by - product at 25kg / hour feed rate ; and • Pilot trial on track for completion in July to confirm technical feasibility of process at scale . Lithium Refinery Project ( " LR " ) ( co - funding evaluation on 50:50 basis with Manikaran Power Ltd ) • Strategic review underway in relation to Neometals future involvement in the proposed Indian lithium refinery JV following the relinquishment of Mt Marion spodumene offtake option . Barrambie Titanium and Vanadium Project ( " Barrambie " ) ( 100 % NMT ) . . Jiuxing Titanium Materials ( Liaonging ) Co. Ltd ( " Jiuxing " ) , signed MOU for titanium and iron - vanadium product offtake ; Jiuxing diligence activities underway with blending / smelting trials on 400kg of mixed gravity concentrates ; Bulk sampling activities at Barrambie commenced to be followed by bulk gravity concentration in September quarter to provide 100t sample to Jiuxing for trials in their commercial smelter ; and Leading mining service providers progressing due diligence to provide “ Build - Own - Operate ” proposals for the development of Barrambie on a capital - light basis . EXPLORATION ACTIVITIES Flotation test work identified the presence of material palladium in both nickel ore and concentrates from the Armstrong deposit - highlighting the potential for significant co - product revenue ; Review on Mt Edwards Nickel Mineral Resources including re - estimations that has driven significant growth in project global contained nickel tonnes ( announced post the quarter end ) ; and Additional preliminary float test - work activities undertaken on Munda and 132N deposits to determine ability to upgrade to commercially acceptable concentrate levels ( announced post the quarter end ) . ACN 099 116 361 Level 1 , 1292 Hay Street West Perth WA 6005 Locked Bag 8 T : +61 8 9322 1182 West Perth WA 6872 F : +61 8 9321 0556 info@neometals.com.au