The All Ordinaries Index (ASX: XAO) is flat in morning trade today, but that's not holding back this outperforming ASX All Ords share.
The high-flying company in question is Metallium Ltd (ASX: MTM).
Shares in the precious metals recovery company closed yesterday trading for 59 cents. In early trade on Tuesday, shares are changing hands for 59.5 cents apiece, up 0.9%.
This sees the Metallium share price up 138.0% since this time last year, smashing the 5.6% 12-month gains delivered by the benchmark index.
Here's what investors are mulling over today.
ASX All Ords share lifts on reactor progress
Metallium shares are marching higher after the company announced it has successfully completed a 12-hour continuous Flash Joule Heating (FJH) reactor campaign at its Gator Point Technology Campus, located in Texas.
Metallium said this extended duration test run showed the stable, repeatable and controlled operation of its Generation-1 commercial-scale FJH reactor platform.
The FJH reactor is intended to efficiently process electronic waste and other metal-bearing feedstocks to recover valuable metals like gold, silver and copper.
Management said the latest 12-hour campaign validates reactor integrity, automation systems and operating procedures ahead of the company's planned multi-reactor deployment.
The successful test run also was reported to have "materially reduced" technical and operational scale-up risk as Metallium advances toward its next major milestone of multiple FJH reactors operating simultaneously in parallel.
Parallel reactor deployment forming the basis of Metallium's modular throughput scale-up strategy.
Separately, the ASX All Ords share also announced the appointment of metallurgist, Rod Lawry, to its Technical Advisory Team. Lawry has more than 45 years of global experience in the mining sector, including holding senior technical roles with Rio Tinto Ltd (ASX: RIO) and BHP Group Ltd (ASX: BHP).
What did Metallium management say?
Commenting on the progress helping lift the ASX All Ords share today, Metallium managing director and CEO Michael Walshe said, "This milestone represents an important transition point for Metallium as we move from individual reactor commissioning toward sustained multi-reactor operations."
Walshe added:
Successfully operating a commercial-scale FJH reactor continuously over an extended duration provides critical validation of reactor integrity, process stability, automation systems and operating procedures.
Looking ahead, Walshe said:
Importantly, these results materially reduce risk ahead of our next major objective of operating multiple FJH reactors simultaneously in parallel, which forms the basis of our modular scale-up strategy.
The campaign has also generated important operating and engineering learnings expected to support ongoing throughput optimisation, reactor refinement and broader process integration activities as commissioning progresses across the Gator Point flowsheet.
The post Up 138% in a year, ASX All Ords share taking off again today on development milestone appeared first on The Motley Fool Australia.
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