OREMAVEN
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2026-11-06
◂ Monitor MTM ASX

Metallium Limited

Construction · Gold · Copper · Rare Earths · Platinum Group Metals · Others · United States · Canada · Australia Rating locked: sign in to view v6.2
Last 2026-11-06
A$0.21
1D
—
1M
—
YTD
—
1Y
—
Upside
Locked: sign in to view
Mkt cap
A$158M
EV
A$93.9M
Cash
A$64.1M
Debt
A$0
5 newer ASX announcements not yet reflected in this valuation

Funding, performance and ownership

Financials & Capital

As of 2026-06-30
Cash A$64.1M Finite
Debt A$0 Net cash A$64.1M
Basic shares 752.3M 2026-09-22
Runway 12.2 quarters Appendix 5B item 8.7 divides A$64.1 million available funding by A$5.236 million quarterly operating outflow; construction and investing outflows are excluded from that issuer calculation.

Liquidity

Financial position

Cash is substantial and no loan facilities were reported, but Gator Point construction and other non-current investment outflows make the operating-only 12.2-quarter runway an optimistic measure of total funding duration.

Capital structure

Ownership and dilution

Ordinary shares
752.3M
Fully diluted
796.8M

738,249,769 at 22 July + 13,000,000 rights conversion + 937,500 option exercise + 30,000 non-cash shares + 37,500 option exercise = 752,254,769 ordinary. Add 44,581,691 remaining unquoted options and rights for a gross 796,836,460 diluted count without exercise proceeds.

Security classes13
ClassTypeQuantityStrikeExpiry
ASX MTM ordinary fully paid sharesOrdinary Share752.3M——
Options expiring 25 March 2027 at A$0.25Option22MA$0.252027-03-25
Options expiring 6 January 2029 at A$0.25Option1.3MA$0.252029-01-06
Options expiring 30 November 2026 at A$0.12Option3MA$0.122026-11-30
Options expiring 30 November 2027 at A$0.18Option3MA$0.182027-11-30
Options expiring 29 November 2027 at A$0.18Option2.2MA$0.182027-11-29
Options expiring 28 November 2028 at A$1.62Option800KA$1.622028-11-28
Options expiring 28 November 2029 at A$1.62Option2MA$1.622029-11-28
Option expiring 29 November 2026 at A$0.12Option1A$0.122026-11-29
Performance rightsPerformance Right6.6M——
FY26 short-term incentive awardsOther717K——
FY26 long-term incentive awardsOther920.4K——
Retention incentive awardsOther2M——

KPI history

Operating metrics

Source values by period
Operating metric source table4
MetricProjectPeriodPeriod typeValueStatus
OtherGator PointCumulative to August 2026Point In Time100 more than test campaignsReported
OtherGator PointJune 2026 campaignQuarter3 reactors operating simultaneouslyReported
OtherGator PointJune 2026 multi-reactor campaignQuarter83 percent availabilityReported
OtherGator PointAugust 2026Point In Time500,000 USD first fee due; receipt in tranches, full amount unconfirmedReported
Company guidance4
MetricProjectPeriodLowHighStatus
Integrated Pcb Flowsheet Nameplate Demonstrationgator-pointQ4 CY2026 target8,0008,000 tonnes per annumCurrent
Initial Saleable Product And Commercial Processinggator-pointH1 CY2027 target—— milestoneCurrent
Multi Reactor Chlorinated Commissioninggator-pointQ3 CY2026 target—— milestoneCurrent
12 Hour Multi Reactor Chlorinated Campaigngator-pointSeptember 2026 target1212 hoursCurrent

Capital history

Capital events

1 events · newest first
DateEventAmountSharesPriceStatusTerms
2026-01-21RaisingOrdinary Fully Paid SharesA$75M89.3MA$0.84CompletedA$75 million strategic placement cornerstoned by U.S. institutions at A$0.84 per share.Max 89.3M · Period 2026-01-21 to 2026-01-21

Contracts and ownership

Material economic arrangements These are deals that can affect sales, costs, funding or ownership. An arrangement marked “Included in valuation” may already be built into a project estimate or the bridge to shareholder value. A separate amount is shown only when one can be estimated; do not add it again.

Partial · as of 2026-09-25

Material agreements disclosed in reviewed issuer and partner filings; unpublished commercial terms limit completeness.

FJH intellectual property is licensed from Rice; royalty, exclusivity and termination economics are unpublished.

Other · Active
Counterparties
Rice University
Applies to
Gator Point Texas Technology Campus · Gold · Copper · Rare Earths · Platinum Group Metals · Others
Economic direction
Burden
Period
From 2022-01-01; no end date stated
Key terms
Licensed technology: FJH including expanded March 2026 scopes text
How it affects our valuation

No valuation treatment is available for this arrangement.

Binding feedstock contract contributes up to 2,400 tonnes annually; pricing and quality terms are undisclosed.

Strategic Partnership · Active
Counterparties
Glencore
Applies to
Gator Point Texas Technology Campus · Gold · Copper · Others
Economic direction
Benefit
Period
From 2026-01-05; no end date stated
Key terms
Contracted PCB feedstock: up to 2400 tonnes per annum
How it affects our valuation

No valuation treatment is available for this arrangement.

Ten-year initial offtake for gallium, germanium, gold, copper, tin and indium; volume, payability and formula details are not published.

Offtake · Active
Counterparties
Indium Corporation
Applies to
Gator Point Texas Technology Campus · Gold · Copper · Others
Economic direction
Benefit
Period
From 2026-03-31; no end date stated
Key terms
Initial term: 10 years
Pricing: commodity-price-linked formula text
How it affects our valuation

No valuation treatment is available for this arrangement.

Twelve-month MXene research and engineering services; first payment in tranches at 26 August. Conditional ECT options and possible Phase 2 licensing are excluded from booked commercial value.

Tolling Or Processing · Active
Counterparties
Environmental Clean Technologies Limited
Applies to
Gator Point Texas Technology Campus · Others
Economic direction
Benefit
Period
2026-08-04 to 2027-08-03
Key terms
Phase 1 cash ceiling: 1,400,000 USD
Upfront due: 500,000 USD
Quarterly from 1 November 2026: 225,000 USD
Conditional ECT options: 20,000,000 ECT options at A$0.18 strike; 12-month expiry
How it affects our valuation

No valuation treatment is available for this arrangement.

NFM option and staged earn-in transfer up to 90%; MTM retains conditional residual interest/free carry or NSR.

Earn In · Conditional
Counterparties
New Frontier Minerals Limited
Applies to
Pomme Rare Earths-Niobium Project · Rare Earths · Others
Economic direction
Mixed
Period
From 2026-02-12; no end date stated
Key terms
Maximum partner earn-in: 90 percent
Residual interest: 10 percent free carried to DFS or 1.5% NSR if diluted
How it affects our valuation

No valuation treatment is available for this arrangement.

Collaboration extended 12 months in June quarter; no binding commercial economics disclosed.

Strategic Partnership · Active
Counterparties
Meteoric Resources
Applies to
Gator Point Texas Technology Campus · Rare Earths
Economic direction
Benefit
Period
From 2026-06-30; no end date stated
How it affects our valuation

No valuation treatment is available for this arrangement.

Collaboration extended 12 months in June quarter; no binding commercial economics disclosed.

Strategic Partnership · Active
Counterparties
ElementUSA
Applies to
Gator Point Texas Technology Campus · Others
Economic direction
Benefit
Period
From 2026-06-30; no end date stated
How it affects our valuation

No valuation treatment is available for this arrangement.