Neometals Ltd (AU:NMT) has released an update.
Neometals Ltd has decided to let its option to acquire an 80% stake in Precious Metals Recovery, LLC lapse, as due diligence raised concerns over the technical and economic viability of their precious metals recovery technology. The technology, aimed at extracting valuable metals from waste streams, did not meet the company’s expectations in pilot trials, with inconsistent results and higher operating costs than anticipated. Neometals continues to focus on sustainable processing solutions, including its Lithium-ion Battery Recycling technology and other low-risk, low-capex projects.
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