Technology Minerals reported a slate of advancements in its interim results for HY2 2022. The company’s shares were down 3.5% to 2.9p in early morning trading on Tuesday.
The firm has been listed on the London Stock Exchange (LSE) since November 2021, and currently aims to create a sustainable circular economy for battery metals across the UK.
The group highlighted its £1.5 million fundraise pre-expenses from its admission to the London Stock Exchange (LSE), after its successful £5 million IPO fundraise.
Technology Minerals also noted its 49% owned firm Recyclus Group, which formed a partnership with Slicker Recycling Limited, and is set to see Slicker Recycling collect battery waste from around the UK and transport it to the nearest Recyclus plant.
The firm’s Recyclus achievements included the group’s first recycling site in Tipton, which opened in January 2022 and is set to provide national capability for lead-acid battery recycling.
The company added that Recyclus had opened the first laboratory suite at its new battery processing plant in Wolverhampton to conduct on-site testing for lead and lithium-ion battery recycling processes.
Technology Minerals celebrated its advancement in several ongoing projects, including a promising set of results from a sampling survey in its Oacoma Project, which reportedly confirmed the presence of manganese and rare earth oxides.
The firm confirmed that it had received a positive slate of initial results from due diligence sampling at its Asturmet Copper-Cobalt-Nickel Project in Asturias, Spain.
Technology Minerals also highlighted its acquisition of the Blackbird Creek Property in Idaho, US, which covers 1,285 hectares in the Idaho Cobalt Belt and potentially holds significant Copper-Cobalt deposits.
“It has been a great six months for the development of Technology Minerals,” said Stanbury.
“We successfully listed on the London Stock Exchange in November and raised capital to accelerate our development plans and pursue our growth strategy to create a circular economy for battery metals.”