"When the market's in oversupply as we think it's going to be for the next couple of years, people just want offtake, they don't want partnerships, because there's no value in the scarcity of what you're producing." Neometals boasts a $131 million cash war chest after selling its 13.8 per cent stake in the Mt Marion lithium mine to partners Ganfeng and Mineral Resources. Mr Reed said he wanted to retain the majority of cash on the balance sheet as it neared the completion of studies on the Barrambie titatnium-vanadium project, a battery recycling plant and synthetic zeolite production, which could be added to the Kalgoorlie plant to lower costs.