The Technology Metals (ASX: TMT) share price is up 5.5% today after the company’s test work revealed titanium in its mining operations.
The post The Technology Metals (ASX:TMT) share price has climbed 5% today. Here’s why appeared first on The Motley Fool Australia. –
The Technology Metals Australia Ltd (ASX: TMT) share price is surging today after the company’s test work revealed titanium in its mining operations.
The Technology Metals share price is currently up 5.5% trading at 39 cents at the time of writing.
Technology Metals is focused on identifying exploration projects in Australia and overseas to discover mineral deposits. Its exploration focus is on vanadium in the mid-west region of Western Australia. It centres its current mining operations in Yarrabubba.
Technology Metals titanium findings
Technology Metals’ test work on non-magnetic tails from two large samples of fresh massive magnetite composites confirmed a quality ilmenite, a byproduct containing titanium.
The excavations have resulted in 47% titanium, which is within the range of commercial feedstock for sulfate pigment manufacturers. Technology Metals intends to market the findings as an attractive blend feedstock.
It’s an attractive blend feedstock for sulphate pigment producers due to its low levels of generally common deleterious elements.
Independent consultants that Technology Metals engaged to conduct quality benchmarking of its titanium findings estimate the results will achieve US$140 – $180/tonne in the medium term.
What management said
Technology Metals managing director Ian Prentice welcomed the findings, saying:
Confirmation of the ability to produce an attractive titanium by-product at Yarrabubba, as confirmed by industry leading consultants TZMI, in a period of high demand further underscores the unique opportunity we have with the range of products anticipated to be generated from Yarrabubba.
The titanium by-product produced from the tails stream indicates that this should be a very low cost and potentially very profitable product.
Technology Metals share price snapshot
The Technology Metals share price is up 5.4% over the past month and 14.7% in 2021 so far. In the last 12 months, it’s increased from just seven cents per share to 39 cents, a 457% rise.
It’s also beaten the basic materials sector by more than 410%.
Where to invest $1,000 right now
When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*
Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.
*Returns as of February 15th 2021
- Why the Mineral Commodities (ASX:MRC) share price is moving higher
- Why the Mainstream (ASX:MAI) share price is up 62% this week
- ANZ (ASX:ANZ) share price dips as bank focuses on AI automation
- Analyst downgrades AstraZeneca stock due to vaccine side effect concerns
- Macquarie (ASX:MQG) just delivered ASX lithium shares a big boost
Motley Fool contributor Lucas Radbourne-Pugh has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.