Metallium Ltd (ASX:MTM) – formerly “MTM Critical Metals” – has left a bad taste in the mouth of some shareholders on the HotCopper forums after the company failed to lodge a periodic report within the ASX’s mandated timeframes, meaning that on Wednesday, the stock has been forcibly suspended.
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To be fair, it isn’t just MTM on the radar. The stock has joined the likes of MedAdvisor, Janus Electric and European Lithium as far as companies that haven’t reported on time go. But shareholder reaction on Wednesday was far from bullish.
That could be because this suspension poses a potential drop-off in momentum for the stock, which year-to-date is up nearly +350+, and over the last twelve months from late 2024, it’s up nearly +1,600%.
When a company runs that hard and then fails to lodge a fairly pedestrian report to the ASX, that isn’t necessarily the kind of thing that screams confidence in management to existing and prospective shareholders.
It’s the first real lull in the MTM story we’ve seen this year, to remind, the company is a critical metals recycling stock seeking to retrieve anything from gold to defence metals from e-waste; in fact, Metallium appears to have been an early mover in this space that has influenced the playbook of other companies on the market (though it was predated by players like Neometals).
And of course, the circular economy (metals recycling) thematic is, ironically, a revived ESG-investing concept now bolstered on the back of a defence thematic (supply chain security) which, as I’ve written elsewhere on Wednesday, could arguably feel a little bit similar to the AI bubble right now. That is, if you’re willing to admit we’re seeing bubble-like qualities from that part of marketworld.
All in all, MTM shareholders will be refreshing throughout the day to see whether or not the company managed to send something over the line after EOD Tuesday. If that’s the case, the stock is back tomorrow.
MTM last traded at $1.14/sh today.
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