The All Ordinaries Index (ASX: XAO) is up 0.1% today, with plenty of help from this surging ASX All Ords share.
The high-flying company in question is Metallium Ltd (ASX: MTM).
Shares in the precious metals recovery company closed on Wednesday trading for 94 cents apiece. In early morning trade on Monday, following the four-day Christmas holiday trading break, shares are trading for $1.02 apiece, up 8.5%.
This sees the Metallium share price up an eye-popping 343.5% over 12 months.
Here's what's grabbing ASX investor interest today.
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ASX All Ords share surges on milestone achievement
The Metallium share price is leaping higher after the company announced it has commenced commissioning at its Texas Technology Campus (Gator Point).
This follows the successful and safe completion of the first chlorine flash using the ASX All Ords share's proprietary Flash Joule Heating (FJH) technology. Metallium highlighted that this is "a major step" in de-risking its United States-based critical metals recovery platform.
Commissioning activities were reported to be progressing in parallel with ongoing construction works to support future expansion at Gator Point. Those activities include feedstock preparation and handling circuits; environmental control and gas-scrubbing systems; and process controls and safety systems.
The ASX All Ords shares said that commissioning is aligned with its staged ramp-up strategy toward Stage-1 nameplate capacity of 8,000 tonnes per annum (TPA) of inbound printed circuit board (PCB) E-waste.
The company is targeting Stage-1 throughput by the third quarter of calendar year 2026.
Those operations will be focused on the recovery of gold, copper, silver, and tin from PCB feedstocks. Advanced planning was also reported to be underway for a future gallium/germanium process line, which remains subject to Metallium securing the required feedstock supplies.
What did management say?
Commenting on the successful completion of the first chlorine flash that's boosting the ASX All Ords share today, Metallium CEO Michael Walshe said, "It confirms that the core FJH process is operating as designed under real operating conditions and marks the formal start of commissioning at Gator Point, exactly as planned."
Clearly pleased, Walshe added:
Having a three-crucible demonstration line already dry and wet commissioned gives us a powerful platform for ongoing R&D, feedstock qualification and partner engagement while we commission the wider plant. Securing our TCEQ Permit-by Rule provides a key regulatory milestone and enables us to advance commissioning with confidence.
In parallel, we are in advanced negotiations to secure long-term PCB feedstock supply arrangements to support Stage-1 operations. Securing high-quality, contracted feedstock is a critical pillar of our operating strategy as we scale toward 8,000 tonnes per annum of inbound PCB capacity.
