MTM Critical Metals Announces $8 Million Capital Raise to Drive FJH Technology Forward

MTM Critical Metals Limited (ASX) has successfully completed an oversubscribed $8 million capital raise, with strong demand from both new and existing sophisticated investors. The funds raised will be used to expedite the commercialisation of MTM’s innovative Flash Joule Heating (FJH) technology, designed to revolutionise metal recovery from ores and waste. This capital injection will also support the company's broader strategic objectives in critical metal extraction.

1-TPD FJH Demonstration Plant Progress

MTM is making significant strides in the design of its 1-ton-per-day (TPD) Flash Joule Heating demonstration plant, a critical milestone in the transition to commercial operations. The plant will showcase the scalability and commercial viability of FJH across multiple applications, including the recovery of metals like gallium and lithium, as well as the broader recycling of e-waste.

Strategic Partnerships and Industry Collaborations

The recent capital raise will also support MTM’s efforts to develop strategic partnerships and collaborations with industry leaders, enhancing the company's ability to commercialise critical metal extraction. This includes extracting gallium and indium from semiconductor waste, recovering gold, copper, and palladium from e-waste, and refining refractory ores such as lithium, niobium, and rare earth elements.

CEO Commentary on Capital Raise and Growth Strategy

Michael Walshe, Chief Executive Officer of MTM, expressed his enthusiasm for the capital raise:
“We are thrilled with the strong support received for this capital raise, which enables MTM to fast-track the commercialisation of our Flash Joule Heating technology. This funding brings us closer to revolutionising the metal recovery industry and addressing global supply challenges for critical metals such as gallium, indium, and lithium.”

Placement Details and Shareholder Involvement

The capital raise will be conducted in two tranches, issuing approximately 123 million new shares at $0.065 per share, representing a 3% discount to the 30-day volume weighted average price (VWAP) and a 14% discount to the 5-day VWAP. The first tranche is expected to raise $4.2 million, with the remaining $3.8 million subject to shareholder approval. MTM’s Directors and key management personnel have committed to increasing their shareholding, further demonstrating their confidence in the company's growth trajectory.

Use of Funds and Future Plans

The funds will be primarily allocated towards:

• Accelerating the construction and commissioning of the 1-TPD FJH demonstration plant.
• Expanding strategic partnerships and exploring new metal recovery applications.
• Supporting ongoing operations and exploration activities across MTM’s mineral portfolio.

Outlook and Next Steps

MTM Critical Metals remains focused on commercialising its innovative FJH technology, which offers a sustainable, energy-efficient solution for recovering metals from both ores and waste. The company's progress on the demonstration plant and ongoing partnerships place it in a strong position to disrupt the critical metals market.

The company will hold a shareholder webinar to discuss recent developments and future plans. Interested parties are encouraged to attend for further insights into MTM's strategy.