ZMI

ARGO leach testwork on zinc smelter residue achieved exceptional metal recoveries (silver 93%, lead 97%, copper 80% averages), de-risking the process flowsheet ahead of a pilot plant targeting early 2027. The validation is genuine but at laboratory scale; commercialization remains 12+ months away and subject to capital, regulatory, and market-off-take risk.

ZMI secured €734k (~A$1.2M) from Belgian VLAIO to accelerate ARGO hydrometallurgical technology from lab to pilot phase by early 2027, targeting recovery of critical minerals (Ge, Ga, In) from zinc smelter residue. The co-funded arrangement ($0.8M from ZMI reserves) validates independent third-party confidence in the flowsheet but indicators material near-term cash commitment against a $27M market cap.

ZMI is fast-tracking ARGO testwork for critical minerals recovery from zinc smelter residue, leveraging EU regulatory tailwinds (Critical Raw Materials Act) and partnering with credentialed labs (Solvomet, Core Resources) to de-risk commercialisation by Q1 2027. The play addresses structural supply gaps in germanium, gallium and indium (all ~80% China-sourced) while solving hazardous-waste compliance for European smelters.