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Neometals Limited (ASX:NMT)
ALERT: Price-sensitive ASX Announcement for NMT
Current share price for NMT : $0.020 -0.033 (-62.26%)+
Release
22 Dec 2025 8:20AM
Price at Release
$0.053
Full Release
Summary
Neometals Ltd announced that EIT RawMaterials will invest an additional €1.5 million in the Finnish Vanadium Recovery Project (VRP1), located in Pori, Finland. This investment will support technical work programs aimed at enhancing project economics and advancing the project financing process. EIT RawMaterials had previously invested in the project, and this is their third round of funding. Novana Oy, a subsidiary of Recycling Industries Scandinavia AB, which is 86.1% owned by Neometals, is commercializing Neometals' vanadium recovery process. The project has secured an environmental permit and has an offtake agreement with Glencore International AG. Neometals will not participate in further equity and debt funding for VRP1, which might lead to a dilution of its interest. This investment highlights EIT RawMaterials' commitment to raw materials innovation and industrial scale-up in Europe, aiming to strengthen the supply of high-purity vanadium for European industries.
Key Points
- EIT RawMaterials invests an additional €1.5 million in VRP1.
- Neometals' subsidiary Novana Oy holds a license for VRP Technology.
- Funding supports technical and commercial activities for VRP1.
- Neometals expects dilution due to non-participation in equity funding.
- Project holds an environmental permit and offtake agreement with Glencore.
- Investment reflects confidence in Novana and raw material innovation in Europe.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.
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