Neometal’s closes sales notice period for stake in Mt Marion

Company News

by Roma Christian

Neometals Limited (ASX:NMT) has advised that the sales notice period for its 13.8 per cent stake in the Mt Marion lithium Project, closed, without receipt of a compliant offer.

The company says it has now determined that the retention of the Project equity, is in the best interests of shareholders.

The mineral project developer says improved offtake pricing structure and levels, plus the achievement of significant project milestones, has increased the Project’s intrinsic value.

Neometals says it has engaged advisors to assist in the consideration of demerging and separately listing the Company’s technology and titanium assets. The company will keep the market informed on the progress of this initiative.

Shares in Neometals Limited (ASX:NMT) are trading 3.3 per cent higher to 31 cents.

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