Neometals Shares Up as It Progresses Demonstration Plant (ASX:NMT)
Battery tech/advanced materials company Neometals Ltd [ASX:NMT] is soaring today.
The NMT share price is currently up 12.99% at time of writing, sustaining some strong trading momentum from the open.
It is just the latest strong move from a company that has been in an uptrend for months now. Pushing this exciting small-cap to new heights and beyond…
So let’s take a look at the catalyst for today’s spike.
Getting ready for showtime
Neometals management has announced today that its battery recycling demonstration plant is now fully commissioned, meaning it is now only a matter of time before this facility will be up and running for real.
Because this plant is a 50/50 joint venture between Neometals and SMS Group, it is a big win for both parties, with the goal now to start collecting data as soon as November.
As the name suggests, though, this is just the precursor for what Neometals is certainly hoping is a scalable process. It is a plant that is designed to prove whether the Primobius lithium-ion battery recycling process is feasible and scalable.
Because, as today’s update notes, if successful this plant will pave the way for a feasibility study on a bigger facility. This comes with Neometals hoping to complete this evaluation for a 50tpd recycling plant in the upcoming March quarter (2022).
Beyond that, though, the ultimate goal is to get a proper battery recycling solution up and running. A goal that Managing Director, Chris Reed, notes will likely be a first for Western economies:
‘This is another important milestone for Primobius. The demonstration trial is the conclusive phase of our evaluation with SMS and represents the key step in bringing our pipeline of potential plants into commercial reality.
‘Inbound interest from the global EV supply chain in our efficient, green recycling process is exceptional. This interest coupled with the scalability and deliverability from our partnership with a leading global plant builder in SMS, augurs well for the achievement of our goal to become the leading recycling solution in the Western world.’
That kind of disruptive potential is certainly exciting to look forward to — and no doubt shareholders are patiently waiting for this reality to come to fruition.
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What’s next for the Neometals Share Price?
In the short term, as already mentioned, the focus will be collecting and collating data from the demonstration plant. This critical information will then lay the groundwork for the planned DFS.
So, with that in mind, investors should roughly know what to expect in the coming months. It will be an exciting period that will hopefully see plenty of communication from management as to ongoing testing.
For that reason, shareholders have plenty to look forward to if Neometals continues to deliver like they have been. It seems to be a promising stock that continues to grow from strength to strength.
But they certainly aren’t the only battery tech or lithium-related small-cap in the spotlight right now. We’ve seen a massive bounce back from the sector as a whole, dishing up some incredible opportunities for those looking for them.
That’s why we’ve put together a comprehensive lithium report, covering all the happenings that are driving this resurgent boom and three stocks that could benefit the most from it right now.
So if that sounds like something you’re interested in, then get your free copy of this report right here.
Because as Neometals has shown, you’ll want to act quickly to make the most of this trend…
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PS: Our publication Money Morning is a fantastic place to start on your investment journey. We talk about the big trends driving the most innovative stocks on the ASX. Learn all about it here