Metallium's US Subsidiary Flash Metals USA Signs Non-Binding MOU with Traxys North America to Advance U.S. Critical Metals Commercialization of Metallium's Flash Joule Heating Platform

Supply, product-purchase and financing terms remain to be negotiated under a framework running through November 2027.

Rhea-AI Summary

Metallium (MTLMY, MTMCF) announced that its U.S. subsidiary Flash Metals USA signed a non-binding critical-metals commercialization framework with Traxys North America. The memorandum runs through November 2027 and combines Metallium's Flash Joule Heating processing platform with Traxys' commercial capabilities to evaluate U.S. supply-chain opportunities.

The immediate focus is to identify priority feedstocks and products, assess processing economics, and negotiate supply, offtake and financing terms. Offtake arrangements concern purchases of processed output. Selected transactions may advance as they become technically and commercially viable. Metallium plans to match feedstocks with product specifications and customer requirements. Commercial deployment remains subject to technical performance, scale-up, product qualification, approvals and funding.

3 points · 0 major

MixediHow this balance works

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0 major · 3 points

Hollow bars mark forward-looking points. How the balance works

Positive

• Moderate pointFlash Metals USA signed a framework with Traxys North America to evaluate U.S. critical-metals supply-chain opportunities.
• Minor point. Forward-looking: it has not happened yet and may not happen.Metallium plans to identify priority feedstocks and products and assess processing economics.
• Minor point. Forward-looking: it has not happened yet and may not happen.Metallium plans to match feedstocks with product specifications and customer requirements.

Negative

• Moderate pointThe framework is non-binding; selected transactions depend on technical and commercial viability.
• Moderate pointSupply, offtake and financing terms remain to be negotiated.
• Moderate point. Forward-looking: it has not happened yet and may not happen.Commercial deployment remains subject to technical performance, scale-up, product qualification, approvals and funding.

Key Figures

MOU framework term: Through November 2027

MOU framework term

Through November 2027

Framework for evaluating and progressing selected transactions

Historical Context

1 past event · Latest: Jul 31

1 event

1. Jul 31

   Commercial feedstock contracts

   24h Move

   +3.3%

   Reported binding contracts for 4,000 tpa of PCB feedstock, about half of Stage 1 capacity.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

offtake

1 terms

offtake financial

"negotiate supply, offtake and financing terms"

An offtake is a contract where a buyer commits in advance to purchase a company’s future output—such as raw materials, energy or finished goods—often at agreed volumes and prices. For investors, an offtake provides predictable revenue and lowers the risk that production will go unsold, similar to a long-term subscription or pre-order that helps a factory or mine secure funding and plan operations with greater confidence.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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HOUSTON, Oct. 26, 2026 /PRNewswire/ -- Metallium Limited (ASX: MTM; OTCQX: MTMCF; OTCAX ADR: MTLMY) announced its wholly owned U.S. subsidiary, Flash Metals USA, Inc., signed a non-binding Memorandum of Understanding with Traxys North America LLC to evaluate opportunities to develop U.S. critical-metals supply chains, combining Metallium's Flash Joule Heating (FJH) processing platform with Traxys' global commercial capabilities. The framework runs through November 2027, allowing selected transactions to be progressed as they become technically and commercially viable. The immediate focus is to define priority feedstocks and products, assess processing economics and negotiate supply, offtake and financing terms.

Additional details are found here: https://asx.api.cmfyapp.com/asx-research/1.0/file/2924-03152732-6A1351194&v=undefined

Traxys is a leading international metals and minerals sourcing conglomerate generating more than US$10 billion in annual revenue across more than 65 commodities, and one of three suppliers named by the Export-Import Bank of the US (EXIM) for Project Vault, a U.S. Government-supported strategic critical minerals reserve backed by a loan facility of up to US$10 billion.

"America's critical-metals security depends on being able to process materials into usable products on American soil," said Michael Walshe, managing director and CEO of Metallium. "Midstream processing is essential to that capability, and FJH is central to the solution Metallium is developing. Our aim is to unlock metals from complex or stranded feedstocks for downstream refining and manufacturing." He noted that Traxys brings sourcing, marketing and financing experience to help Metallium connect that processing capability with reliable feedstock and customers. "This is more than finding a buyer," he stressed. "Linking feedstock supply product offtake and financing could reduce the working capability required to scale a domestic processing business."

Walshe noted that the company's immediate focus will be on specific opportunities where Metallium's processing technology and Traxys' commercial capabilities can support viable domestic supply. "After that, we intend to match feedstocks with product specifications and customer requirements, assess processing economics, and agree on workable supply, offtake and financing terms." Walshe stressed that the company wants to progress the strongest opportunities first, while retaining the broader framework to develop additional transactions.

Traxys is a leading global physical commodity trader and merchant in the metals and natural resources sectors, with headquarters in Luxembourg and more than 20 offices worldwide. Traxys is engaged in sourcing, trading, marketing and distributing non-ferrous metals, ferro-alloys, minerals, industrial raw materials and energy products. The company has been named a supplier to Project Vault, the U.S. Government-supported strategic critical minerals reserve program. More information on Traxys can be found at https://www.traxys.com.

Metallium Ltd. (https;//www.metalliuminc.com) is developing U.S. processing capability for critical and precious metals through its wholly owned subsidiary, Flash Metals USA Inc. Its strategy centers on Flash Joule Heating (FJH) and complementary processing steps to recover metals from mineral feedstocks, industrial residues and recycled materials. Metallium's Gator Point Technology Campus in Anahuac, Texas, supports development of its processing platform. The company aims to provide part of the midstream capability needed to connect domestic and allied feedstocks with downstream refining and manufacturing. Commercial deployment remains subject to technical performance, scale-up, product qualification, approvals and funding.

View original content to download multimedia:https://www.prnewswire.com/news-releases/metalliums-us-subsidiary-flash-metals-usa-signs-non-binding-mou-with-traxys-north-america-to-advance-us-critical-metals-commercialization-of-metalliums-flash-joule-heating-platform-302919418.html

SOURCE Metallium Ltd.

FAQ

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What did Metallium's Flash Metals USA agree with Traxys North America?

Flash Metals USA signed a non-binding memorandum of understanding with Traxys North America to evaluate U.S. critical-metals supply-chain opportunities. It combines Metallium's Flash Joule Heating processing platform with Traxys' commercial capabilities, with supply, product-purchase and financing terms still to be negotiated.

How long does Metallium's Traxys framework run?

The framework runs through November 2027, allowing selected transactions to progress as they become technically and commercially viable.