Metallium jumps +10% as latest Aussie stock to ink US DoD deal
Metallium Ltd (ASX:MTM), formerly MTM Critical Metals, a company developing a reportedly cleaner way to recycle precious and critical metals from e-waste, is the latest materials player to ink a deal harmonised with the U.S. DoD’s overall strategic minerals domestic supply security targets.
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Now within the DoD “innovation and funding system” per MTM’s own description, the company’s now looking at one metal in particular when it comes to recovering critical materials: The somewhat-obscure metal gallium.
The company also cited the potential to capture germanium, too.
Gallium is, you can guess, a critical mineral for the defence and other high-tech industries.
The company’s relationship with U.S. DoD will carry across the next six months, “shorter… than standard SBIR programs, reflecting the advanced readiness of [our] technology,” MTM added on Tuesday.
While it cited a US$1 million grant available under Phase II contracts (and higher amounts under Phase III), the company is facing a contract worth $100,000.
“The program will be executed by [a Metallium subsid] as prime contractor, with Rice University’s Tour Group engaged under a resource and cost-sharing arrangement,” the company elaborated.
“This award is a milestone for Metallium as our first direct contract with the U.S. Department of Defense,” company chief Michael Walshe explained.
“More than the initial dollar value, it signals our formal entry into the DoD system and follows the proven SBIR pathway that has enabled other ASX companies to progress from Phase I to substantial multi-year, multi-million-dollar contracts.”
MTM last traded at 81.5cps.
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Metallium Ltd (ASX:MTM), formerly MTM Critical Metals, a company...
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