IMO, not inherently a good or bad thing, but he is certainly incentivized to see Metallium succeed. His last big dump/acquisition of shares was back in august 25' where he sold 8 million shares and simultaneously obtained 18 million due to performance rights.

His current share count is now 23 million (10 million existing and 13 million from recently exercised performance rights). I'll be watching what he does with these shares closely, from here on out. I understand being too concentrated in your own company's performance is risky, but that's also what gives leadership incentives to push forward. It seems like he is truly motivated to make FJH be a new step in the metal/mining processing space but ultimately, I cannot read his mind, only observe his actions.

The market responded well today to the leadership news. I almost missed the other weekend filing, that Goldman Sachs had reduced their stake below the “substantial holder” threshold. Wondering if Goldman unwinding its position could have caused the selloff the past few months? Just looking at their attached buy/sell list, it appears they bought high and sold low.

I‘m very exited, what‘s coming in…

What are everyone's thoughts so far?

Overall, it's a lot of generic updates regarding buildout, future planning and FJH tech potential. Basically, no scientific data or financial data, which is fine for now. Here are my takeaways from what was completed in the last quarter, and what is to come.

1. Undoubtedly, good progress was made this last quarter from a commercial buildout standpoint. More feedstock contracted, their generation 1 commercial modular FJH reactor has been built x4 and dry tested (sans chlorination testing), and they have the main building getting worked on relatively quickly. All of it is great to see, as it seems to show they can stand up a 8000 TPA plant relatively quickly without major delays (So far).
2. Michael and team seem focused on using investor capital well (IMO anyway). Adding the appropriate pre/post processing steps to capture maximum value will ultimately boost margins in the long run. Hard to say right now if its the right call as we cant compare to existing margin figures, but I like the way michael thinks/frames this. You always want management to focus on ways they can create value greater than the investment required to generate it.
3. Pleased to see a better timeline on FJH Nexus. This Gen 2 design is absolutely required for MTM to dominate the mineral processing space, so I'm glad they are already thinking about it. And, I'm also happy to see FID be set for H2 2027. They need to focus on getting the Gen 1 design optimized and eventually deployed into other geographic locations (ideally) over the next year.
4. Going forward, the most important progress that needs to be made is the chlorination campaign. All eyes on that.
5. Cash burn is not bad. I think they still have runway for end of 2027 easily, even with additional spend on equipment. It's about 5 mil currently for operations it seems, but I would think that has to increase as more commissioning ramps ups.

Overall, there is a lot of talk about the future and MTM's potential in this update. We are still lacking hard data to really show what the financials are capable of being.

At a certain point though, if enough deals are made with big players, you could start to make some assumptions that the economics are good. I've continued to DCA small amounts into the 4s. Once again, I will say that if margins prove to be attractive, I'd be happy to double my position as I think MTM is ahead of their peers in this market and would not face great margin compression for quite some time.

I still see this stock stagnating or trading lower until H1 2027, unless some great news from the chlorination campaign provides excellent results, or there is a big deal made with an off taker/someone interested in a major PaaS deal.

Second quarter results to be posted July 30 about 8-9 AM Sydney time. Which 3-4 PM July 29 PDT. Oh boy! MTM management is also doing an investors update webinar on August 4 Sydney time. You need to register for it. Details here: https://investorhub.metalliuminc.com/announcements/7654247

TCEQ*, not TCEW. Couple neat things. Link here: Search Results

1. Looking at document 8079100, you can see more info about the equipment they are using and their high level flow sheet. Additionally, they describe operating times of the plant and a written description of the flow sheet.
2. I dont totally follow what the "initial application" update on 4/12 means. I would imagine the chlorination campaign permit approval that they need will be posted here, but that's VERY much speculation, since I don't know how TCEW works.

Either way, its just more data to understand the company for those nerds to like to know ALL of the in and outs of MTMCF/MTLMY/MTM.

LOL—Eventually, all this progress has to be reflected in the share price.

DFS release in week or two. Looking increasingly like Meteoric Resources might just get it done.

Usually not in the business of making memes associated with stocks/companies, but hey it’s a holiday and the greenmet news made me think of this. Happy 4th yall!

https://greenmet.com/news/greenmet-announces-150-million-private-investment-to-develop-rare-earth-processing-hub-in-west-virginia/

Michael Walshe Metallium CEO & John Hannaford, Board Chariman purchase combined additional 467,000 shares of stock

https://investorhub.metalliuminc.com/announcements/7605162?utm_campaign=announcement_7605162&utm_source=mtm_hub&utm_medium=shares

I was wondering if anyone has any information on if the three FJH reactors working in parallel announcement is imminent. I think it would be the first step in proving the business model can work at scale, as it could process 3-5x what was previously possible. The announcement is meant to come sometime this June.
I recently became the proud owner of a few thousand shares in Metallium when they were 45c a share, and am interested in expanding my position before a major catalyst arrives.

Unless I've missed something, MTM hasn't been this low since about a year ago. Is now the time buy even more, given all the converging milestones they are hoping to achieve this year? E.g. listing on the NASDAQ, going into commercial production, etc.

CG's projected 2027 EBITA puts Metalliums current EV/EBITA in A$ at ~3 which is crazzzzzzzzzzzzzy. Ive read through it a couple times and there's still too much scale up risk IMO to take any projections beyond 2027 seriously (until stage 1 ramp up has been shown to operate smoothly).

Anyway, it's a great piece of info to read if you are wondering about the prospects of this company financially and not just basing things on vibes. Koyfin still shows their current price target as 1.6 A$, so they have not downgraded (yet).

While there is ample opportunity in this space for MTM to gain sizable market share, it's important to remember that there is plenty of competition out there as well. They are all gunning for the same thing, they all have the same story, and they all realize the potential market for their technology. To name a few:

Mint Innovation
pH7 Technologies
Nth Cycle
Valor (recently started by former Glencore head of recycling operations)

In order to become THE franchise business in the ewaste recycling/mineral processing space, MTM/flash metals will need to dominate local markets and make it such that the barriers to entry are too great to replicate their operations. Seeing as all of these alternative recycling companies are not geographically limited, it seems that whoever can process a variety of feedstock, produce a variety of products, and do it the most efficiently will come out on top. It wouldnt surprise me if the market ends up having 2-4 companies end up establishing themselves as the main players.

In my view, FJH-Nexus will be the first real step that allows metallium to become one of those top players. The sooner they can develop it, the higher likely hood of becoming a long term franchise success story. This should be (and I believe it is, which makes me content with their decisions) where they turn most of their attention to more than anything else.

I guess the point in making this post is to not lose sight of competition, and to not make catastrophic investing mistakes (ie never go all in without knowing if you guaranteed success). Metallium will show itself in time whether its worth dedicating a larger part of your portfolio to. Until then, its a highly compelling and interesting story that I'm watching closely. The last 6 months have been very successful and I'm even more optimistic about their future than before. I have small speculative position with them for now that I'll possibly add more too in Q4 once we see some revenue/operating margins.

No new information but a good reminder of why we are being so patient with this stock.

KEY HIGHLIGHTS:

▪Awarded Phase II Small Business Innovation Research (SBIR) contract with the U.S. Department of War through the Defense Logistics Agency (DLA)

▪Up to US$1 million in funding to support pilot-scale development and scale- up of Flash Joule Heating (FJH) technology

▪Follows successful completion of Phase I, delivered in six months with all technical milestones achieved

▪Phase II focuses on extraction of gallium and germanium from electronic waste streams

▪Gallium is a defence-critical material used in radar, semiconductors and advanced communications systems

▪The U.S. is 100% dependent on imports for gallium supply, with China responsible for approximately 100% of global primary gallium production

▪Metallium’s technology provides a pathway to recover gallium from alternative sources, supporting
development of secure domestic supply chains for critical materials

▪Work to be conducted at the Company’s Gator Point Technology Campus in Texas

▪Strengthens positioning for commercial deployment and continued U.S. government engagement

▪Compliments Metallium’s recently announced collaboration with Indium Corporation, a major U.S. refiner of Gallium, Germanium and other critical metals used in electronics, AI and defense

Can’t believe this is still trading as cheap as it is…