Draft ASX announcement re further extension of MOU


14 September 2015 Mt Marion Lithium Project Offtake and Equity Investment Update on Memorandum of Understanding

Neometals Ltd (ASX: NMT) ("Neometals") and Mineral Resources Limited (ASX: MIN) ("MIN" - via its wholly owned subsidiary Process Minerals International Pty Ltd) refer to their previous announcements regarding the binding Memorandum of Understanding ("MOU") entered into by their jointly owned subsidiary, Reed Industrial Minerals Pty Ltd, with Jiangxi Ganfeng Lithium Co., Ltd ("Ganfeng").
The parties are continuing to progress the formal agreements to document and give full effect to the terms agreed in the MOU. The parties are now working towards execution of the formal agreements by 19 September 2015.
Ganfeng has called a meeting of its shareholders to seek approval of the transaction, as contemplated by the MOU. The meeting is scheduled for Monday, 21 September 2015.
Following execution of the formal agreements, Ganfeng will also seek approval of the transaction from the Jiangxi Provincial Government, which is expected to take approximately one week.
Subject to execution of the formal agreements and the above conditions, financial close of the transaction is expected to occur in early October 2015.

ENDS

For further information, please contact:

Chris Reed

Managing Director
Neometals Ltd
T: +61 8 9322 1182
E: info@neometals.com.au

Bruce Goulds

CFO/Company Secretary
Mineral Resources Limited
T: +61 8 9329 3600
E: bruce.goulds@mineralresources.com.au

Media

Richard Glass / Michael Weir
Citadel-MAGNUS
T: +61 8 6160 4900

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