29th Dec 2022 07:36
(Alliance News) - Neometals Ltd on Thursday said it has agreed an extension of its cooperation agreement with Critical Metals Ltd in relation to the parties' proposed vanadium recovery operation in Finland.
Neometals is a West Perth, Australia-based sustainable battery materials producer.
The company earns a 50% share in an incorporated joint venture with Scandinavian mineral development company, Critical Metals, to develop a vanadium recovery project.
The agreement is now extended to February 28, 2023.
Thus far, Neometals has funded the evaluation studies to recover high-grade vanadium chemicals from vanadium-bearing steel making by-product in Scandinavia.
On Thursday, the company said it would be advancing negotiations with Critical regarding both a shareholder's agreement and technology licensing arrangements. Subject to mutual agreement, Neometals expects these agreements to be finalised by the end of February 2023.
Neometals shares last traded at 45.28 pence each in London on Wednesday.
By Holly Beveridge; Alliance News reporter
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