Zac, taking your lead in regards to your "Bauxite RIO scenario", if this collaboration is with a multi national aluminium producer it would likely have a large quantity of 'Red Mud' to deal with.
Wikipedia states "Annual production of alumina in 2023 was over 142 million tonnes (310 billion pounds) resulting in the generation of approximately 170 million tonnes (370 billion pounds) of red mud" and "Red Mud poses a significant environmental hazard". The benefits to aluminium producers from successful FJH processing are obvious.
As far as I can tell though, MTM has not yet confirmed FJH's benefits in extracting Fe from Red Mud. As of recent mentions, it is listed as a potential vertical?
On that basis I see:
Scenario 1 - that testing has now been done, and is demonstratively successful and to be confirmed as part the announcement of our new partner with details of the collaboration. Best case.
Scenario 2 - that the collaboration is simply to expedite testing. Worst case.
Shareholders would be very disappointed if a collaboration to expedite testing was considered a 'major commercial' collaboration'. But given recent market events I am bracing myself for such disappointment.
To my mind, "major commercial" reads as more significant than "material commercial", assuming the distinction between 'material' (Indium Co) and "major" (this yet to be named multi-national) is intentional.
MTM Price at posting:
15.0¢ Sentiment: Buy Disclosure: Held
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