Gassin123Charts

$MTM | THE ROAD TO COMMERCIAL PRODUCTION IS GETTING CLEARER Metallium’s AGM reveals some significant progress. A$50.7M cash at 30 September Preliminary PCB metal recoveries above 90% into mixed streams ~4,000 tonnes per annum under binding feedstock arrangements 10-year binding Indium Corporation offtake US$500K ECT payment received Up to US$1M US defence-related funding awarded Three FJH reactors successfully operated together for 12 hours Initial PCB metal-product revenue targeted for H1 2027 Planned 8,000-tonne-per-annum PCB processing circuit What excites me most? MTM is moving beyond technology development toward a potential commercial metals recovery business in Texas. The Glencore supply agreement, Indium offtake and ECT revenue provide a stronger commercial foundation. Traxys adds another potential opportunity, although its MOU remains non-binding. The next major catalyst is commercial execution in 2027. Importantly, the 90%+ preliminary recoveries are not yet final customer-qualified product recoveries. Scale-up and commissioning risks remain. My speculative bull-case scenario remains $1.50–$2.00, conditional on successful commercialisation. For me, the long-term opportunity is compelling, but delivery will determine the valuation. $MTM $MTMCF #ASX #CriticalMinerals #Gold #RareEarths Personal opinion only. Not financial advice. DYOR.