BUZZ-Australia's Neometals rises after Finnish vandium recovery project gets funds

Reuters09-16

** Shares of Neometals rise as much as 16.3% to A$0.1, their highest levels since Aug 20

** The battery materials producer executes a project agreement, through its 88%-owned entity, Recycling Industries Scandinavia AB (RISAB), EIT RawMaterials GmbH to support the development of the Finnish vanadium recovery project

** Says EIT RawMaterials will provide Novana with 0.5 million euros ($554,550) in grant funding and become a minority shareholder in RISAB

** About 1.2 mln shares change hands, 1.3 times the 30-day average volume of shares

** Stock has fallen 59.1% this year, as of last close

($1 = 0.9016 euros)

(Reporting by Sherin Sunny in Bengaluru)

((Sherin.Sunny@thomsonreuters.com))

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