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recycling 28 October 2021 vanadium V titanium Ti SONAL Neometals All the right elements Nm QUARTERLY ACTIVITIES REPORT For the quarter ended 30 September 2021 HIGHLIGHTS CORPORATE Successful demerger , in - specie share distribution to Neometals shareholders ( $ 26M based on capital raising price ) and listing of Widgie Nickel Ltd , which raised $ 24M via underwritten entitlement issue to advance the Mt Edwards nickel assets Cash balance A $ 83.5 million , receivables and investments of A $ 38.7 million and no debt ; and Preparations ongoing for Neometals dual listing on AIM market of the London Stock Exchange . CORE DEVELOPMENT ACTIVITIES Lithium - ion Battery ( " LIB " ) Recycling Project ( 50 % NMT via Primobius GmbH , an incorporated JV with SMS group GmbH ) Recycling demonstration plant - shredding and beneficiation circuit successfully commissioned ; . Recycling demonstration plant - hydrometallurgical refining circuit constructed and commenced commissioning ( successfully commissioned post quarter end ) ; Demonstration trials will provide key inputs for engineering cost and feasibility study for first 20,000tpa operation ; Strong commercial pipeline with potential for multiple plant rollouts as principal in Europe , North American and Asia with partners and existing licencees ; and Investment decision made to increase throughput of existing Primobius demonstration plant to allow commercial shredding disposal operations from Q1 2021. Procurement and construction activities commenced for the same . Vanadium Recovery Project ( " VRP " ) ( earning into 50:50 JV with Critical Metals Ltd ) • • VRP process successfully demonstrated at scale in 24 - day continuous pilot trials ; Exceptional product purities and strong vanadium recoveries support board decision to commence feasibility study activities for the first vanadium recovery plant in Pori , Finland , completion expected in June 2022 ; and MoU between Neometals ' partner , Critical Metals , and H2 Green Steel for a potential second , larger vanadium recovery plant in Sweden ; Barrambie Titanium and Vanadium Project ( " Barrambie " ) ( 100 % NMT ) Preparation of Barrambie mixed gravity concentrate sample for Jiuxing commercial smelting trials in China ; Leading mining service providers progressing due diligence to provide “ Build - Own - Operate " proposals for the development of Barrambie on a capital - light basis ; and Pre - feasibility study advanced on Australian mining and beneficiation operation with Chinese refining activities . 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