MTM Critical Metals has announced its flash joule heating technology can now be extended into either a chlorinated or carbon-chlorinated setting, in a bid to enhance its metal recovery activities.
MTM Critical Metals has announced its flash joule heating technology can now be extended into either a chlorinated or carbon-chlorinated setting, in a bid to enhance its metal recovery activities.
The West Perth-based junior, which has interests in battery minerals, gold and rare earths in Australia and Canada, told the market the addition of chlorination and carbo-chlorination with the technology would significantly enhance its efficiency and sustainability – predominantly from ores, e-waste and industrial residues.
It also could provide an opportunity for MTM to explore its options further in the lithium sector.
This development is timely, given Michael Walshe’s recent appointment as MTM’s chief executive officer last Friday.
Prior to his appointment, Mr Walshe worked in an advisory capacity for MTM in relation to use of the flash joule heating technology, from an analytical and technical-based standpoint.
The technology, developed by Rice University in the US, involves a brief burst of an electric current, which can generate high levels of heat.
With the ability to adjust the heat level, several different metals can be extracted.
MTM secured its global licence agreement through Rice to use the technology on May 31. With this new addition to the licence, MTM has agreed to issue the unversity 625,000 of its shares, coupled with 250,000 additional options, with an exercise price of 20 cents and August 7, 2029 expiration date.
“This development enables MTM to potentially extract critical metals at significantly lower temperatures and also extract metals under different chemical compositions, which will open up many new opportunities, particularly in relation to lithium,” Mr Walshe said.
“As we progress with testing the scalability and effectiveness of the chlorination-enhanced FJH technology, we are actively engaging with industry partners, academia, and government agencies to support its development and commercial deployment.”
Moving forward, the junior – which has a market cap of $7.87 million – said it would continue test work, along with continuing discussions with a diverse range of stakeholders in order to further develop and deploy the technology at a commercial level.
MTM last traded at 2.9 cents, up 4 per cent, as of 1.56pm WST.
