MTM signed an Supply and offtake MOU for eWaste with Glencore yesterday sending the share price up 20% at one stage.
It's only an MOU (memorandum of understanding) but "could" be binding by December 2025. Must emphasise the word "could" but without sounding too positive Metallium seems confident otherwise why would they put a date for this.
It's also sailed past my free carry trade order of 1.15 which fortunately did not happen due to the suspension on Monday which would have flushed out the order.
But there are so many of these stories not living up to the hype, notable ones include NMT (Neometals) and ASM (Aus Strategic Materials) so I need to be cautious and reassess my sell order.
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MTM who had a meeting with Strawman recently announced the appointment of Travis Langster who was a former Deputy assistant secretary of defense to Metallium subsidiary Flash Metals US inc to the advisory board.
Lots of info when you search for Langster and he works in lots of places. Example below.
https://elaranova.com/team_member/travis-langster/
Seems like a solid appointment but doesn't justify the price rise
As aside Soul Pattinson also has a holding
Must be all good then?
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MTM announced a phase I deal with the US department of defence
While not a big deal ($100k 6 months), the news was still enough to send the share price up to 10% at one stage. If Phase I succeeds, this gives MTM an opportunity to access larger million dollar contracts known as Phase II and Phase III.
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Recently MTM completed a capital raise at the price of 55c to sophs and institutions.
Funds will be used to construct the FJH module which will process around 1 tonne per day.
IMHO it's not much but MTM thinks it is enough to generate a decent return.
Maybe time to sell?
Then maybe not. Looking at the latest presentation apparently Knighthawk took an equity stake in MTM in exchange for fees.
At 28c back in March 2-25
MTM or Mount Monger Exploration will also be renamed Metallium
MTM has some similarities to Calix so at market cap of $300m need to tread with caution. Only difference is MTM have a long list of partners and offtakes which include Vedanta (a FTSE listed mining co like BHP) so there must be some vote of confidence there.
I'm not sure what the status of the exploration tenements in Gold and REE. Will need to look into those
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For sake of comparison, ASM has similar metal processing technology (but with Titanium) and is now less than the market cap of MTM (Formerly Mt Monger Minerals - not to be confused with gold miner Mt Malcolm).
Although I've been critical holder of this company it seems Pengana and Terra Capital sees potential
I guess when you can process and recover from Gallium to Gold anything can happen?
I've not free carried yet. Like with CU6, I will wait another year to get the CGT discount and ride the momentum for now!
The small watch position has now "ballooned".
Totally outside my wheelhouse and I guess it is outside of everyone else's too!
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Surprising rally after the capital raise
Voting machine in full action
Maybe it is this slide?
Or this slide?
Dr James Tour is the holder of the 20m shares under the name "InvestJTech" in the previous straw.
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Looks interesting, but a bit out of my wheelhouse
They basically got a license to use Flash Joule Heating from Rice University. In exchange, the university got 17m shares in MTM
Seems they are switching from being a mining explorer to a metal refiner/recycler.
There's lots going on here so maybe write more another day.
Became a holder "by accident" when the share price dived from 7c to 6c.
The holding is mega tiny though. MTM only have 2.6m so I expect a raise as that amount of money doesn't get far enough even though they have 3-4 quarters of cash remaining.
Now back to 8.5c, so a flukey return for me...
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