19th Aug 2024 14:25
Neometals Ltd - West Perth, Western Australia-based lithium-ion battery recycling technology - Raises USD3 million in fresh equity from a subscription for 66.7 million new shares at 4.5 US cents each. The subscription is by long-term individual shareholder William Richmond, and the funds will be used to get Neometals' flagship lithium-ion battery recycling project, for car maker Mercedes-Benz Group AG through the industrial validation stage. It will have USD9.3 million in net cash following the raise.
Current stock price: 3.98 pence per share, up 14% in London on Monday afternoon
12-month change: down 83%
By Tom Waite, Alliance News editor
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