NEO Battery Materials Ltd V.NBM

Filing statement on sedar

[lscfa]

Previously, the Company had planned to break-ground and construct Building 1 of the first NBMSiDE® commercial plant in South Korea as the primary business objective. After strategic consideration and evaluation of commercialization planning and risk-mitigative, capital-efficient operations, the Company has decided to hold off on commercial plant construction activities. Prioritizing NBMSiDE® material optimization and striking advanced agreements with global testing parties will instead accelerate commercialization timelines with lowered capital requirements and operational risk. However, as the long-term objective, NEO Battery Materials intends to mass produce its materials to supply battery cell manufacturers and automotive OEMs that plan to pursue vertically integrated battery manufacturing capabilities, intending to become one of the global top ten suppliers of silicon anode materials for the lithium-ion battery industry.

[TheSarge]

Thank you 

[racetrk6]

Thanks for the release.  I think they are doing the prudent think here.  Prioritizing NBMSiDE® material optimization and striking advanced agreements with global testing parties will instead accelerate commercialization timelines with lowered capital requirements and operational risk. Without incoming revenue from partnerships they would burn through there existing cash