Australia's Metallium hits 1-month high on US contract for gallium recovery

Metallium

02/09/2025 01:50

** Shares of Metallium MTM.AX rise as much as 12.2% to A$0.825, their highest level since August 5; last up 11.9%

** Critical metals explorer on track for best day since early August, if current gains hold

** Says a unit has been awarded a Phase I small business innovation research (SBIR) contract by the U.S. Department of Defense

** Says contract to recover gallium from waste streams, including LED scrap and gallium-rich waste streams

** Says Phase I funding will provide about A$100,000 ($64,980.00), while progressing to Phase II will make co eligible to apply for up to $1 million funding

** Stock has more than tripled in value so far this year

($1 = 1.5389 Australian dollars)

(Reporting by John Biju in Bengaluru)

((John.Biju@thomsonreuters.com;))