Technology Minerals to rebrand and refocus in 2024
London, UK
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November 02, 2023 04:00 AM Eastern Daylight Time
Technology Minerals PLC (LSE:TM1) CEO Alex Stanbury speaks to Thomas Warner from Proactive London after the company released its annual report and full-year results.
Stanbury starts by highlighting what he believes was a strong performance despite tough market conditions. Focusing primarily on the recycling aspect of their business, Stanbury underscores the progress they've made, notably in obtaining environmental permits and transitioning to commercial production.
Their lithium-ion battery recycling plant in Wolverhampton is now operational and stockpiling black mass for sale. On the corporate side he reveals that Technology Minerals PLC, which owns just over 48% of Recyclus Group, has offered to acquire the remaining shares.
With the merger expected to complete in Q1, there are plans to rebrand Technology Minerals as Recyclus Group PLC. Additionally, Stanbury touches on their exploration assets, which he describes as capital light and self-funding. For 2024, the focus will be on cash generation, expanding recycling capacities, and completing the merger.
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