NEW YORK, May 15, 2024 (GLOBE NEWSWIRE) -- OTC Markets Group Inc. (OTCQX: OTCM), operator of regulated markets for trading 12,000 U.S. and international securities, today announced Neometals Ltd. (ASX: NMT; OTCQX: NMTAY), a sustainable processing technology company that recycles and recovers critical materials from high value waste streams, has qualified to trade on the OTCQX Best Market under the symbol "NMTAY."
Neometals Ltd. upgraded to OTCQX from the Pink market. U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for the company on
Upgrading to the OTCQX Market is an important step for companies seeking to provide transparent trading for their U.S. investors. For companies listed on a qualified international exchange, streamlined market standards enable them to utilize their home market reporting to make their information available in the U.S. To qualify for OTCQX, companies must meet high financial standards, follow best practice corporate governance and demonstrate compliance with applicable securities laws.
Neometals Managing Director Chris Reed said:
"We are pleased to begin trading on the top tier of OTC Markets - OTCQX. The U.S. trading upgrade reflects a desire to provide additional visibility and gain greater market exposure and liquidity. Additionally, the OTCQX quotation will increase the number of US states to 40 that allow investors and equity analysts to recommend Neometals' American Depositary Receipts (1:10 ASX ORD/ ADR ratio).
With Neometals' strategy to enable critical material production from waste streams, and the increasing importance being placed on US domestic critical material supply resilience, the timing bodes well to broaden the audience to our sustainable battery and precious materials opportunities".
Rimon Law acted as the company's OTCQX sponsor.
About Neometals Ltd.
Neometals facilitates sustainable critical material supply chains and reduces the environmental burden of traditional mining in the global transition to a circular economy. The Company is commercialising a portfolio of sustainable processing solutions that recycle and recover critical materials from high-value waste streams.
Neometals' core focus is on the commercialisation of its patented, Lithium-ion Battery ("LiB") Recycling technology (50% NMT), under a plant supply and technology licensing business model. Primobius GmbH is the 50:50 incorporated JV with 150-year-old German plant builder, SMS group GmbH, that is commercialising the technology. Primobius is building a 2,500tpa recycling plant for Mercedes-Benz under a long-term Cooperation Agreement. It also operates its own LiB disposal service in Germany and plans to offer its first commercial 21,000tpa plant to North American licensee, Stelco, in JunQ 2025.
Neometals is also developing two advanced battery materials technologies for commercialisation under low-risk, low-capex technology licensing business models:
- Lithium Chemicals (70% NMT) – Patented ELi electrolysis process, co-owned 30% by Mineral Resources Ltd, to produce battery quality lithium hydroxide from brine and/or hard-rock feedstocks at lowest quartile operating costs. Pilot scale test work and Engineering Cost Study update planned for completion in DecQ 2024; and
- Vanadium Recovery (100% NMT) – Patent pending hydrometallurgical process to produce high-purity vanadium pentoxide from steelmaking by-product ("Slag") at lowest-quartile operating cost and carbon footprint.
About OTC Markets Group Inc.
OTC Markets Group Inc. (OTCQX: OTCM) operates regulated markets for trading 12,000 U.S. and international securities. Our data-driven disclosure standards form the foundation of our three public markets: OTCQX Best Market, OTCQB Venture Market and Pink Open Market.
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