Shares of Neometals, an Australian sustainable battery materials producer, experienced a significant rise.

Neometals (ASX:NMT) saw an increase of up to 16.1% to A$0.36, making it their greatest intraday percentage gain since June.

The company has reported improved lithium yields from 83% to over 93% at Primobius' LiB recycling hub.

Additionally, Neometals (ASX:NMT) stated that their hydrometallurgical refinery trials have produced lithium fluoride with a 95% purity rate, leading to potential savings in operating and capital costs.

The company also surpassed its 30-day average for shares exchanged, with over 1.3 million shares changing hands.

Despite this success, Neometals (ASX:NMT) stock remains down 61.2% year to date, when calculated from the last closing price.

Neometals is a leading sustainable battery materials producer based in Australia focused on enhanced lithium recovery.