The Neometals Ltd (ASX: NMT) share price is shooting skywards this afternoon despite no news out of the sustainable minerals explorer today.
At the time of writing, Neometals shares are up 10.8% to $1.95. In earlier trade, they reached a new 52-week high of $1.97.
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What's been happening lately?
The last time we heard any news from Neometals was on Tuesday. The company announced that its battery recycling joint venture Primobius has opened a commercial lithium-ion battery recycling plant in Germany.
Operations are expected to start this quarter. It appears ASX investors loved the news, with the Neometals share price advancing 19% to date on Monday's closing price of $1.63.
Growth in the company's share price has impressed ASX investors in recent times. In March alone, shares in the lithium, vanadium, and nickel miner moved 25% higher as my Fool colleague Aaron reported.
During the month, Neometals also announced it was in advanced discussions about a possible partnership between Primobius and Licular, a wholly-owned subsidiary of Mercedes-Benz Group AG (FRA: MBG).
As part of a global strategy for recycling car battery systems, Mercedes-Benz wants to build a recycling plant at its Kuppenheim operations in southern Germany.
In a statement on 11 March, Neometals said Licular "plans to cooperate with … Primobius, as its technology partner, for the design and construction of the proposed recycling plant".
Neometals share price snapshot
The Neometals share price is up 447% over the past 12 months.
Neometals has a market capitalisation of $1.07 billion based on the current share price.
