Date: Aug 16, 2018
Neometals Ltd’s (ASX:NMT) board has approved plans to demerge its Barrambie Titanium–Vanadium Project and associated technology assets into a new ASX-listed company.
The spin-out will allow Neometals and the new company to separately focus on the development of their respective integrated lithium and titanium-vanadium strategies.
The demerger is subject to shareholder approval and is aims to be completed in the March quarter 2019.
Neometals’s managing director Christopher Reed said: “The company has reached an inflection point where both business arms need dedicated management, independent corporate structures and financial resources to realise optimal value.
“Neometals has an enviable lithium portfolio and a disciplined strategy to minimise risk and maximise returns from its lithium feedstocks.
Barrambie has potential to be a globally significant operation
