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#TM1 Technology Minerals – Recyclus Receives Battery Testbed System

Technology Minerals Plc (LSE: TM1), the first listed UK company focused on creating a sustainable circular economy for battery metals, is pleased to announce that its 49% owned battery recycling business, Recyclus Group Ltd (“Recyclus”), has received three lithium battery (“LIB”) testbed systems designed to measure a range of different battery chemistries of different sizes at its Wolverhampton site.

 

The LIB testbeds give Recyclus the operational capability to test the effective capacity of battery packs from a range of EV and industrial usages as well as for degradation or damage at the cell level. By charging and discharging batteries to measure capacity and capture stored energy it can also perform a number of other critical performance test criteria. The ability to discharge stored energy unlocks future opportunities to feed energy back into the national grid and for use on-site.

 

This testing capability enables Recyclus to grade batteries and access the reuse market for batteries alongside recycling. The tested battery packs will be sorted into one of three categories: the first are suitable for reuse as they are, the second are defective and need to be recycled, and the third are a split with some cells being retrievable and others not. It creates an opportunity for Recyclus to send suitable batteries back into alternative repurposed applications, depending on their condition and test results.

 

With UK Government estimates suggesting that there could be almost 28 million EVs on the UK’s roads by 2035,1 a substantial number of battery cells are likely to reach end-of-life that are suitable for reuse for different applications, representing a significant market opportunity beyond recycling.

 

Robin Brundle, Chairman of Technology Minerals, said: “This testing capability is another key development for Recyclus designed to create an additional potential new revenue stream by unlocking more of the value-chain in the battery circular economy .

“We are constantly exploring new avenues to expand under our circular economy strategy, and this represents a significant milestone for us in developing our capability for recycling and reuse of batteries, and our ability to harness otherwise wasted energy. Implementing these systems into our process will help to maximise the lifespan of batteries and minimise energy waste.”

Jonathan Regan, Senior Battery Engineer of Recyclus, said: “Developing this function will allow us to work with manufacturers to increase the amount of carbon offset from the batteries’ production by extending their working life through repurposing into alternative applications , supporting the transition to net-zero, and supporting future and current legislative targets.”

Enquiries

Technology Minerals Plc

Robin Brundle, Executive Chairman

Alexander Stanbury, Chief Executive Officer

+44 20 7618 9100

Arden Partners Plc

Ruari McGirr, George Morgan

+44 207 614 5900

Luther Pendragon

Harry Chathli, Alexis Gore, John Bick

+44 20 7618 9100

Technology Minerals #TM1 – Issue of Shares

Technology Minerals Plc (the “Company”) (LSE: TM1), the first UK company focused on creating a sustainable circular economy for battery metals, announces that the Company has issued 603,981 ordinary shares in the Company to North American Strategic Metals Inc. (“NASM”) in settlement of payment due to NASM for the acquisition of a working interest in the Oacama Project and 1,132,075 ordinary shares to a supplier  (“Supplier”) for the provision of consultancy services, a total of 1,736,056 new ordinary shares (“New Shares”). 

By way of background:-

(a)  On 9 July 2021, Technology Minerals Limited (now Techmin Limited) a wholly owned subsidiary of the Company entered into an agreement with East River Minerals LLC, a 100% owned affiliate of NASM, for the acquisition of a working interest in the Oacoma Project (the “Oacoma Agreement”). Under the terms of the Oacoma Agreement, it was agreed (amongst other matters) that USD 25,000 be paid to NASM in the form of shares in the Company, the price per share to be the weighted average share price over the 5 days of trading prior to 9 March 2022. The Company and NASM have agreed that the number of New Shares to be issued to NASM is 603,981; and

(b)  On 27 April 2022, the Company entered into an agreement with the Supplier for the provision of services to the Company (the “Supplier Agreement”). Under the terms of the Supplier Agreement, it was agreed (amongst other matters) that GBP 30,000 be paid to the Supplier in the form of shares in the Company, that the price per share to be the mid-price on 27 April namely £0.0265 per share, and that the number of New Shares to be issued to the Supplier is 1,132,075. 

Admission and Total Voting Rights 

Application will be made for the 1,736,056 New Shares, which will rank pari passu in all respects with the existing ordinary shares of the Company, to be admitted to the Standard List segment of Official List and to trading on the main market of the London Stock Exchange plc, which is expected to occur on or around 8.00 a.m. on 10 June 2022 (“Admission”). Upon Admission, the total number of issued shares and the total number of voting rights in the Company will be 1,271,423,593.

The above figure of 1,271,423,593 should be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the Financial Conduct Authority’s Disclosure Guidance and Transparency Rules.

The Directors of the Company accept responsibility for this announcement.

Technology Minerals #TM1 – Recyclus awarded Lithium-ion EA Permit at Wolverhampton plant

Technology Minerals Plc (LSE: TM1), the first listed UK company focused on creating a sustainable circular economy for battery metals, is pleased to announce that the Environment Agency (“EA”) has awarded its 49% owned battery recycling business, Recyclus Group Ltd (“Recyclus”), an environmental permit for its recycling plant in Wolverhampton, West Midlands. 

The EA permit at its Wolverhampton plant will provide the critical legal foundation from which Recyclus can receive the variation of licence required to enable the Wolverhampton site to be fully operational. This variation of licence is required due to the novelty of recycling lithium-ion batteries within the UK.   

Further, the EA has prioritised the determination of Recyclus’ application to transfer its permits across its lithium-ion Wolverhampton plant and lead-acid Tipton plant. This priority status has been given to Recyclus as the EA is satisfied that the development of the company will help maintain national resilience, national infrastructure and/or is critical for environmental protection. 

Once the site is fully operational, the Wolverhampton plant will be the first in the UK with the capacity to recycle lithium-ion batteries on an industrial scale and will be a key foundation of Recyclus’ ambition to increase its lithium-ion battery recycling capacity from an estimated 8,300 tonnes in the first full year of operations, to circa 41,500 tonnes by 2027. 

This is the second EA permit Recyclus has been awarded in two weeks following the environmental permit obtained for its Tipton recycling facility earlier this month. 

Robin Brundle, Chairman of Technology Minerals, said: “Receiving the EA permit for our Wolverhampton plant is a critical step for the recycling facility to become fully operational which, for the first time, will bring industrial scale recycling capability for lithium-ion batteries in the UK. To be awarded priority status and be categorised as an organisation critical for environmental protection is fantastic. This high-level of recognition from the EA is reflective of the importance of Recyclus’ ambition to recycle batteries and establish a circular economy for battery metals in the UK. With the increasing demand for critical battery metals, we are pleased to be seen as integral to ensuring a domestic supply through recycling.”

Enquiries

Technology Minerals Plc

Robin Brundle, Executive Chairman

Alexander Stanbury, Chief Executive Officer

+44 20 7618 9100

Arden Partners Plc

Ruari McGirr, George Morgan

+44 207 614 5900

Luther Pendragon

Harry Chathli, Alexis Gore, John Bick

+44 20 7618 9100

Technology Minerals Plc   

Technology Minerals is developing the UK’s first listed, sustainable circular economy for battery metals, using cutting-edge technology to recycle, recover, and re-use battery technologies for a renewable energy future. Technology Minerals is focused on extracting raw materials required for Li-ion batteries, whilst solving the ecological issue of spent Li-ion batteries, by recycling them for re-use by battery manufacturers. With the increasing global demand for battery metals to supply electrification, the group will explore, mine, and recycle metals from spent batteries. Further information on Technology Minerals is available at www.technologyminerals.co.uk    

Recyclus Group Ltd   

The demand for the raw materials used in battery manufacturing is anticipated to substantially increase. Recyclus Group provides a national recycling initiative that supports the transition to carbon neutrality. Recyclus Group’s battery recycling capacity will prove essential in the shift from fossil fuels to electric transportation. Through its strategic support, Recyclus is an integral component to the recycling of lithium-ion and lead-acid batteries and is a significant contributor towards the circular economy of battery metals. Further information on Recyclus Group is available at www.recyclusgroup.com    

Research Talks Special Live from the UK Investor Show in London

In a research talks special streamed from the The UK Investor Show Alan Green and Mark Fairbairn discuss MetalNRG Plc #MNRG Kavango Resources PLC #KAV Technology Minerals #TM1 and the sum of the parts valuation case for Power Metal Resources #POW

#research #gold #copper #nickel #investor #RareEarth #circulareconomy #batteryrecycling #BatteryMetals #mining #exploration #mineralexploration Rolf A Gerritsen Ben Turney Brett Grist Robin Brundle Alex Stanbury Emily Steward Harry Chathli John Bick Paul Johnson Tristan Pottas Oliver Friesen

#TM1 Technology Minerals – Completed Sale of 10% Interest in US Projects

Technology Minerals (LSE: TM1), the first listed UK company focused on creating a sustainable circular economy for battery metals, announces that further to its announcement on 6 May 2022, the Company has completed the sale of an initial 10 per cent interest in the Company’s registered claims in its wholly owned US cobalt/copper projects; the Blackbird Creek Project and Emperium Project (collectively “the Properties”), Lemhi County, Idaho, United States of America, to Bluebird Metals LLC (“the Buyer”) for a cash consideration of £900,000.

 

The sale agreement also includes a proposed option for the Buyer to acquire a further 20 per cent interest in the Properties for a further cash consideration of £1.8m. The option is exercisable within a 6-month period from the date of the signing of the detailed Purchase Agreement regarding the Proposed Sale.

 

Alex Stanbury, Chief Executive Officer of Technology Minerals, said: “We are delighted to complete the sale of a minority interest in our US cobalt/copper assets which is a strong endorsement of the potential of the Blackbird Creek and Emperium Projects. The agreement validates our strategy of advancing our junior mining assets up the value curve to attract partners and unlock significant potential value that can be added to the Company’s portfolio.”

 

Background: Blackbird and Emperium Projects

 

The Blackbird Creek Project is located within the Idaho Cobalt Belt (“ICB”), a 60 km long metallogenic district characterised by stratiform/tabular Co-Cu deposits. The ICB is hosted in the Mesoproterozoic Belt Supergroup (1,470 Ma and 1,370 Ma), juxtaposed between later Proterozoic (1,370 Ma) quartz monzonitic intrusions.

 

The Emperium Project covers approximately 55km² in east-central Idaho, making it one of the largest land positions in the Idaho Cobalt Belt. To date, there has been limited exploration conducted on the property in the form of lithogeochemical (rock) sampling, and satellite image interpretation.

 

Related Party Transaction

The sale and grant of option are deemed to be related party transactions for the purposes of DTR 7.3 as Chang Oh Turkmani, a beneficial owner of the Buyer, is also a Non-Executive Director of Technology Minerals Plc and beneficial owner of 55,555,556 ordinary shares amounting to 4.37% of the issued shares in the Company.

 

The Directors of the Company accept responsibility for this announcement.

 

For further information please contact:

 

Technology Minerals Plc

Robin Brundle, Executive Chairman

Alexander Stanbury, Chief Executive Officer

+44 20 7618 9100

Arden Partners Plc

Ruari McGirr, George Morgan

+44 207 614 5900

Luther Pendragon

Harry Chathli, Alexis Gore, John Bick

+44 20 7618 9100

 

#TM1 Technology Minerals – TM1 Chairman Robin Brundle interviews with Katie from Proactive

~ Permit award at Tipton

~ Application for a lithium-ion licence and prospects in the US

~ Bluebird Metals buying a 10% stake in Idaho

Technology Minerals #TM1 – Recyclus Receives Environmental Permit at Tipton Recycling Site

Issue of permit allows for treatment and processing of lead-acid batteries on-site and is a key step towards commencement of operations 

Technology Minerals Plc (LSE: TM1), the first listed UK company focused on creating a sustainable circular economy for battery metals is pleased to announce that the Environment Agency (“EA”) has awarded its 49% owned battery recycling business, Recyclus Group Ltd (“Recyclus”), an environmental permit at its lead-acid battery recycling plant in Tipton, West Midlands for a hazardous waste installation, primarily involved in the treatment and processing of lead-acid batteries.

The EA permit allows for the treatment and processing of lead-acid batteries on-site and provides the critical legal foundation to complete the sub-licences that will enable operations to commence at Tipton.

The Tipton plant aims to support Recyclus’ ambition to increase the Company’s total lead-acid battery recycling production capacity from an estimated 16,000 tonnes in the first full year of production, to circa 80,000 tonnes by 2027. The Tipton plant is designed to process up to 12 tonnes an hour of lead-acid batteries and has a fully automated system.

In addition, Recyclus has successfully completed stage one of the audit process for ISO 9001, 14001 and 45001 certifications, a global standard for Quality, Environmental and Occupational Health and Safety Management Systems. Recyclus will now proceed to the final stage and, subject to successfully completing the audit process, will be certified.

Robin Brundle, Chairman of Technology Minerals, said: “The granting of the EA permit is a crucial step forward and will enable Recyclus to proceed with obtaining the required sub-licences to commence operations at the Tipton site. The team has been preparing to ensure that we are positioned to ramp up production when the site becomes fully operational.  The opening of this plant at Tipton is a key milestone for us at Recyclus and our strategy to open ten plants over the next six years.”

Enquiries

Technology Minerals Plc

Robin Brundle, Executive Chairman

Alexander Stanbury, Chief Executive Officer

+44 20 7618 9100

Arden Partners Plc

Ruari McGirr, George Morgan

+44 207 614 5900

Luther Pendragon

Harry Chathli, Alexis Gore, John Bick

+44 20 7618 9100

 

Technology Minerals Plc 

Technology Minerals is developing the UK’s first listed, sustainable circular economy for battery metals, using cutting-edge technology to recycle, recover, and re-use battery technologies for a renewable energy future. Technology Minerals is focused on extracting raw materials required for Li-ion batteries, whilst solving the ecological issue of spent Li-ion batteries, by recycling them for re-use by battery manufacturers. With the increasing global demand for battery metals to supply electrification, the group will explore, mine, and recycle metals from spent batteries. Further information on Technology Minerals is available at www.technologyminerals.co.uk  

Recyclus Group Ltd  

The demand for the raw materials used in battery manufacturing is anticipated to substantially increase. Recyclus Group provides a national recycling initiative that supports the transition to carbon neutrality. Recyclus Group’s battery recycling capacity will prove essential in the shift from fossil fuels to electric transportation. Through its strategic support, Recyclus is an integral component to the recycling of lithium-ion and lead-acid batteries and is a significant contributor towards the circular economy of battery metals. Further information on Recyclus Group is available at www.recyclusgroup.com  

Alan Green discuss #KAV Kavango Resources, #ARB Argo Blockchain & #TM1 Technology Minerals on the Vox Podcast

Alan Green discuss #KAV Kavango Resources, #ARB Argo Blockchain & #TM1 Technology Minerals on the Vox Market Podcast

#TM1 Technology Minerals – Appointment of Chief Financial Officer

Technology Minerals Plc (LSE: TM1), the first UK company focused on creating a sustainable circular economy for battery metals, is pleased to announce the appointment of James Cable as a director and Chief Financial Officer (“CFO”) of the Company with immediate effect.

 

James has extensive experience of investment evaluation and financial transformation across several industries, including 28 years in natural resources. Qualifying as a chartered accountant at Turquands Barton Mayhew & Co (now Ernst & Young), James has curated a strong background in natural resources with international experience in mining, oil and gas, construction, and other industries. James also has a strong background in public markets including fundraising, M&A and corporate strategy.  

 

James has held senior positions across a variety of companies, including roles as Finance Director at AIM listed Alien Metals Limited (formerly Arian Silver Corporation) followed by serving as a non-executive director, and AIM listed Kopane Diamond Developments Plc until it was acquired by AIM listed Firestone Diamonds Limited. In addition, James was previously Finance Director at Mantle Diamonds Limited, before it was acquired by ASX listed Kimberley Diamonds Limited. Early in his career, James spent more than 10 years at Mobil Oil Corporation (now ExxonMobil).

 

Most recently, James has held the position of director and part-time CFO at GemRock Company Limited, an exploration and mining company with assets in Mozambique, where he has been integral to the fundraise of $27 million from private investors, overseeing the financial activities and corporate governance of the company.

 

Robin Brundle, Chairman of Technology Minerals, said: “We are delighted to bring James on board and welcome him to the team at Technology Minerals. His considerable experience in the mining and natural resources industry as well as his vast board experience will be an asset and drive our strategic growth plans in junior mining and recycling. With a keen interest in recycling, James is enthusiastic about our twin-track strategy to create a circular economy for battery metals. We look forward to seeing James further the business as he heads up our strong accountancy team.”

 

James Cable, Chief Financial Officer of Technology Minerals, commented: “It is great to be joining the team at Technology Minerals and progressing their vision of a circular economy for battery metals through their junior mining and battery recycling businesses. I look forward to continuing working in the natural resource sector and furthering my knowledge of and interest in recycling as Recyclus scales up their operations.”

 

The following information is disclosed in accordance with Listing Rule 9.6.13.

James Cable holds or has held the following directorships in a publicly quoted company the past five years:

Past directorships
Alien Metals Limited (BVI) – AIM listed

 

James Cable was appointed a director of Blue Lias Technologies plc on 21 February 2017 at a time when the company was contemplating seeking admission to trading on AIM.  The company was a non-trading holding company for a South African development-stage technology company. He was a director of Blue Lias Technologies plc until 9 July 2019. On 25 November 2020 a court order to wind up Blue Lias Technologies plc completed.

James Cable was a director of Blue Lias Industries Limited until 9 July 2019. The company was a wholly owned subsidiary of Blue Lias Technologies Plc and was dissolved on 27 October 2020.

James Cable was a director of Primavision Limited which was placed in creditors voluntary liquidation on 10 March 2003.

Technology Minerals confirms that there is no further information to be disclosed under the requirements of Listing Rule 9.6.13 in relation to the appointment of James Cable.

 

Enquiries

 

Technology Minerals Plc

Robin Brundle, Executive Chairman

Alexander Stanbury, Chief Executive Officer

+44 20 7618 9100

Arden Partners Plc

Ruari McGirr, George Morgan

+44 207 614 5900

Luther Pendragon

Harry Chathli, Alexis Gore, John Bick

+44 20 7618 9100

What Investment May 2022 – Metal Morphosis

As the pandemic recovery and key metal supply squeeze triggers the next commodity supercycle, Alan Green asks if recycling can plug the gap…

For Technology Minerals, which listed on the London Market as #TM1 last November, recent events have only underscored the importance of the company’s mission to secure a sustainable supply for battery metals…

Read the full May edition of What Investment here

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