TMT Shareholders Retail Holding, page-65

I’ve actually been wondering if they will bring Neometals Barrambie deposit into the fold as well Old Dan.
Clearly working on the merger between TMT and AVL is taking a lot of executive bandwidth at present but AVL has also been effectively ‘in the data room’ of Barrambie since the two companies signed a non-binding MOU back on January 26.
And the AFR story on the last cash call here back on May as well as predicting the merger between AVL and TMT quotes ‘sources’ as saying there may be an additional ‘local target’.

Spoiler : Cash Call AFR May 21, 2023

https://www.afr. com/street-talk/rcf-backed-vanadium-play-technology-metals-australia-in-cash-call-20230521-p5da2x
RCF-backed vanadium play Technology Metals Australia in cash call
Sarah Thompson, Kanika Sood and Emma Rapaport
May 21, 2023 – 7.13pm

Technology Metals Australia, which counts Resource Capital Fund as its 17.1 per cent shareholder, had two brokers building support for a $10 million capital raising over the weekend ahead of a launch on Monday.

Fund managers fielded calls from Bridge Street Capital Partners and Ashanti Capital, who were offering shares at 28¢ – or a 12.5 per cent discount to the last close.

The vanadium explorer was down to $8.1 million cash at the end of March, and is plugging away at its West Australian project Murchison.


TMT investors were told vanadium batteries have certain advantages over lithium, particularly when it comes to industrial and remote use. AFR

Potential backers were told vanadium batteries is seen as a longer-duration, lower-maintenance and safer alternative to lithium-ion batteries especially for industrial and remote use.
Vanadium batteries’ merits already had several miners, including IGO Limited, trialling the technology at its sites, they were told.

Technology Metals Australia has pitched itself as a tier 1 asset for vanadium, at a time when demand is climbing and 85 per cent of the world’s production of the metal was concentrated in the hands of three countries: Russia, China and South Africa.

Resource Capital Fund’s presence on the register was expected to be a drawcard for the raising.
RCF also owns 7.48 per cent of listed peer Australian Vanadium Limited, and has form in orchestrating M&A between synergistic businesses that it has tipped its money into.
It played a similar role at lithium miner Pilbara Minerals, helping the company finance its acquisition of embattled peer Altura Mining in 2020.

Should RCF wish to rustle up a deal at Technology Metals Australia, it would have an obvious target in Australian Vanadium Limited but also in the nearby Windimurra vanadium plant which went into administration.
That could potentially be reconfigured to treat Technology Metals Australia’s ore and cut down on the company’s capital expenditure, sources said.

I don’t know what is going on at Windimurra, but Barrambie is even closer, and on the NMT forum back on 14/10/23 @BrucieKibbutz posted a ‘paid for’ video the NMT managing director had produced.
I thought it was interesting that from about the 19:00 mark he says pretty clearly that Barrambie (which just lost an important Chinese offtake deal) is for sale.

And yes times are tough but that’s the best time to ‘set the board’ for when the game - such as it is - gets better?

cheers