Metallium completes fundraise for critical minerals recycling

Metallium Ltd., an Australian company with a Houston-based subsidiary, Flash Metals USA Inc., has announced the completion of a $75 million Australian ($51.3 million U.S.) capital raise, led by United States-based investors with dedicated mandates focused on critical minerals, recycling technologies and U.S. processing capacity.

According to Metallium, the raise is timed to support the commissioning and commercial scale-up of its first commercial facility at the Gator Point Technology Campus and support its American Depository Receipt (ADR) trading on the OTCQX, in advance of a planned Nasdaq listing later this year.

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Metallium says the funding was completed at an issue price of 84 cents per share Australian (54 cents U.S.), representing an 8.7 percent discount to the company’s last closing price and an 8.8 percent discount to the five-day, volume-weighted average price. The company says the transaction materially increases U.S. participation on Metallium’s share register and reflects growing investor interest in U.S.-based critical metals processing and technology platforms.

“This capital raise reflects the strong support for our U.S.-centric strategy and progress as we move from development into commercial execution,” Metallium Managing Director and CEO Michael Walshe says. “With commissioning underway at Gator Point, the secured Glencore feedstock agreement and our institution of an ADR program, we have seen increased interest from U.S. investors seeking exposure to critical metals processing and enabling technologies.”

The fundraise was led by Petra Capital, with EAS Advisors LLC, acting through Odeon Capital Group LLC, appointed as U.S. advisor.

Metallium says it is developing a low-carbon, high-efficiency approach to recovering critical and precious metals from mineral concentrates and high-grade scrap streams. The company claims its patented Flash Joule Heating (FJH) technology enables the extraction of high-value materials, including gallium, germanium, antimony, rare earth elements and gold from feedstocks such as refinery scrap, electronic scrap and monazite.