MTM Chart, page-2185

I’ve been researching MTM for the last 6 weeks and have now invested here.

I have also held IPX (since took profits) and see a lot of similarities between the 2 companies, we’re probably 18 months behind them.

Both companies have revolutionary technology at a time when the US has goals of becoming self sufficient in precious metals. IPX has received grants & loans from the US, there is no reason why we won’t too, especially as China has imposed export controls on metals we are targeting.

The risk is in the scale up, IPX had the same risks and successfully scaled up. We have already scaled up from Rice Uni lab size to our “Prototype” which asx announcements have already reported success with 50x on initial testing to 2,000x reported in November. No sooner had the Prototype been manufactured, it was having good results almost straight away with little commissioning. I don’t know what multiple our Demonstration Plant needs to achieve to scale up from our Prototype scale in order to achieve 1 tonne per day, but suspect it would be less than the scale up they’ve already done.

For some metals such as Gallium, the Demo Plant will be commercial and for less expensive metals the Demo Plant is modular, I think Michael said they might need 10 units for something like Lithium to be commercial. That’s 2 ends of the spectrum, from $850/t to $600,000/t, not to mention Germanium at $1,700,000/t

Looking at Gallium, with 15% feed stock, a 90% recovery & 1 tonne per day (350 days), at present prices of $600,000/t we’d have revenue of US$26.3m (A$42m)

(350 x 15% x 90% x $600,000)

And that is from one $3m unit. - imagine if we had 100 of these, let alone larger versions further down the track.

It’s been a while since we’ve had any testing results, Christmas break slows things down though to a lesser extent in the US which takes its major break mid year. So I’d expect some results soon along with a possible news of lease agreement for a new premise, or other news from the CEO’s time in the US.

I think one reason why some investors might be hesitant is because of the recent multiple increase in the share price. We’ve gone from an explorer to an Industrial Technology Company almost overnight. It will take the market a while to get use to that.