Emerging battery materials producer Neometals announce the completion of an Association for the Advancement of Cost Engineering Class 3 Engineering Cost Study on the recovery of high-purity vanadium pentoxide from high-grade vanadium-bearing steel by-product. The ECS was completed with assistance from leading Nordic engineering group Sweco Industry. Neometals has the option to form 50:50 incorporated joint ventures to develop a vanadium recovery project with unlisted Australian mineral development company Critical Metals. The parties are jointly evaluating the feasibility of constructing a facility in Pori in Finland to process and recover high-purity V205 from vanadium-bearing steel making by-product generated by SSAB EMEA AB and SSAB Europe in Scandinavia.The VRP1 offers a compelling business case which is underpinned byAccess to very high-grade vanadium feedstock without upstream mining costs and associated operating risksPotentially robust economicsProcessing flow sheet utilizing conventional equipment at atmospheric pressure and mild temperatures with non-exotic materials of constructionA very low or net zero greenhouse gas footprint given the absence of mining and a processing route sequestering CO2 into potentially saleable carbonate by-productOn the 6 April 2020, Critical executed a conditional agreement with SSAB, a steel producer that operates steel mills in Scandinavia, to acquire Slag produced as by-product at SSAB's operations. The Slag Supply Agreement provides a secure basis for the evaluation of the VRP1 assuming 200,000 dry metric tonnes of Slag processing per annum without the need to build a mine and a concentrator like existing primary producers. The Slag Supply Agreement provides for the conditional purchase of 2,000,000 dry metric tonnes of Slag from SSAB.Neometals has three core battery materials businesses commercializing proprietary, low-cost, low-carbon process technologies:Lithium Ion Battery Recycling, 50% equity, to produce nickel, cobalt and Lithium from production scrap and end-of-life lithium ion batteries in an incorporated JV with leading global plant bolder SMS group. The Primobius N will soon commence operation of a 10 tonne per day operation in Germany and has been selected as technology partner by Mercedes Benz. Investment decision for its first 50 tonnes per day operation with Stelco in Canada is expected September quarter of 2022Vanadium Recovery, earning 50% equity, to produce high purity vanadium pentoxide via processing of steelmaking by-products. Finalizing evaluation studies on a 300,000 tonne per annum operation in Pori in Finland and potential joint venture with Critical Metals, underpinned by a 2 million tonne, 10 year Slag supply agreement together with the potential availability of a further 1.1 million tonne as contemplated by the NBLI with leading Scandinavian steelmaker SSAB. Investment decision expected end Dec 2022. MOU with H2Green Steel for up to 4 million tonne of slag underpins a potential second, operation in Roden in SwedenLithium Chemicals, earning 35%equity, to produce lithium hydroxide from brine and/or hard rock feedstock using our ELi electrolysis process. Co funding pilot plant and evaluation studies on a 25,000 tonne per annum operation in Estarreja in Portugal towards a potential JV with technology co-owner Mineral Resources Ltd and Portugal's largest chemical producer Bondalti Chemicals SA Investment decision expected Dec 2023.