MTM Transition from Mining to Processing and Technology Provider

[Deven]

Metallium enters into Binding Option Agreement for New Frontier Minerals to Acquire 90% of the Pomme REE Project​

February 11, 2026

https://investorhub.metalliuminc.com/announcements/7362880
https://metalliuminc.com/pomme-project

Summary: Metallium, in its transformation from Mining to Technology provider, is offering its options in the Pomme Project to New Frontier Minerals (NFM), whom Metallium already partners with on the Harts Range Project in Australia. If NFM exercises the Pomme options then additional payments and a Joint Venture Agreement may result. Metallium's Flash Joule Heating (FJH) will play a part in test work and future processing of the project's material. This allows Metallium to focus on commerciallizing FJH while deriving value from legacy mining assets which are no longer a central part of its go-forward business plan.


Statements in Jan 28, 2026 Quarterly Activities Report:
https://investorhub.metalliuminc.com/announcements/7330410

• "During the quarter, Metallium continued to rationalise its legacy mineral asset portfolio to align capital allocation and management focus with the Company’s U.S.-based technology commercialisation strategy."
• "No exploration or field activities were undertaken across Metallium’s mineral projects during the quarter. The Company continues to assess monetisation, partnering, or divestment pathways for remaining non-core assets where appropriate, with a clear focus on maximizing shareholder value while prioritizing the commercialisation of its Flash Joule Heating technology in the United States."
• "Metallium holds an option to acquire a 100% interest in the Pomme rare earth project in Quebec. During the quarter, the Company executed an amendment to the option agreement extending the exercise date to mid- February 2026, in consideration for an additional non-refundable cash payment. The extension provides additional time to progress third-party discussions and complete remaining commercial and structural considerations. Metallium continues to assess the optimal pathway forward for the project and will provide further updates as appropriate."

Previous NFM Harts Ridge announcement:

• There is an existing (Nov 18, 2025) relationship with New Frontier Minerals (NFM) who owns and develops the Harts Range Project for Niobium, Uranium, and Heavy Rare Earths (REE) in the Northern Territory, Australia.
  • Metallium holds exclusive, binding, project-attached rights to treat the Harts Range ore for at least 10 years.
  • At the time, Michael Walshe, Managing Director and CEO of Metallium expanded on the FJH test results at Harts by saying: "These results highlight the disruptive potential of Metallium's technology. To take an unprocessed rock sample and produce a Dy/Tb-rich concentrate in one rapid, solvent-free step is exceptional" ... "It reinforces our position at the forefront of building a Western supply chain for the world's most strategic rare-earth metals. To achieve a more than 20-fold TREO upgrade and more than a 50-fold enrichment of dysprosium from a raw, un-beneficiated ore sample in a single flash is unprecedented in global heavy-rare-earth beneficiation."
  • Contractually, any future potential owner of Harts Range must also use the FJH process. Metallium will also earn a royalty on recovered product and a process licensing on all future Dy/Tb sales from Harts Range Material.

Statements in this Pomme announcement:

• The Pomme relationship deepens the previous Harts Range vertical integration with Metallium as a Technology partner.
• Metallium's Pomme REE Project is located approximately 500 km northwest of Montréal in Québec Canada.
• NFM can "Option & Earn up to 90% interest in the project tenements from Metallium Ltd (via its option to acquire 100% of Critical Element Exploration Pty Ltd, holder of the GeoMega option)."
• "The Pomme Project provides NFM with a highly capital-efficient, low-risk entry into a strategically located Canadian rare earth asset via a two-year option structure requiring upfront consideration of A$100,000 in cash and A$200,000 in NFM shares and minimum annual expenditure of A$100,000 per annum during the option period."
• "Metallium to assist as processing and technology partner, supporting metallurgical test work and downstream development."
• "Metallium's proprietary Flash Joule Heating (FJH) technology has demonstrated encouraging sighter beneficiation results on raw rare earth ore, producing high-grade, Dy/Tb-rich concentrates without conventional flotation, acid leaching or reagent-intensive processing."
• "Initial work programs will focus on conventional metallurgical test work alongside the application of Metallium’s proprietary Flash Joule Heating (FJH) technology to existing drill core, targeting the production of upgraded rare earth concentrates and early validation of a scalable, low-cost processing pathway that has the potential to materially enhance project economics."

 

[John]

So....i'm confused.....Metallium is basically handing over most of its rare earth project (Pomme) to another company so it can focus on its processing technology instead of mining. If the other company proceeds, Metallium still earns money by supplying its processing tech and possibly royalties????

 

[Deven]

Yes, appears so, as well as possibly retaining the remaining 10% stake in the Pomme project...
Also, similar to their shedding of their Laverton Gold and Mt Monger Gold Projects in Australia, it probably results in reduced operational expenses.
I think it could possibly be stated basically that they are passing a legacy mining asset to an existing business partner (who is more focused and capable in exploration and mining), with the intention of benefiting from future licensing opportunity for Metallium's Mineral Processing Business Unit (under their Processing-as-a-Service model).