Temas Resources Corp (ASX: TIO) – Unlocking Titanium & Critical Minerals with Metallurgical Technology
- Noel Ong
- Sep 22
- 7 min read
2. Prospectus
Temas Resources Corp, incorporated in British Columbia, Canada, is bringing a unique blend of critical mineral projects and proprietary metallurgical technology to the Australian Securities Exchange. The company already trades on the CSE, OTCQB, and FSE, and is now seeking to broaden its investor base through an ASX listing.
The offer consists of 55,000,000 CHESS Depository Interests (CDIs) at $0.20 each to raise $11 million, equating to a market capitalisation of approximately $19.3 million at admission. The listing is designed to provide capital for advancing the company’s Québec-based projects (Figure 1), progressing commercialisation of its patented processing technology, and creating new opportunities through strategic partnerships.
Figure 1: La Blache and Lac Brule titanium projects in Quebec, Canada (source: TIO)
ASX Listing Details – Temas Resources Corp
Company Name: Temas Resources Corp
Proposed ASX Code: TIO
Incorporation: British Columbia, Canada (ARBN 687 644 248)
Securities on Offer: 55,000,000 CHESS Depository Interests (CDIs)
Issue Price: A$0.20 per CDI
Capital to be Raised: A$11,000,000
Shares/CDIs on Issue at Admission (Undiluted): ~96.4 million
Market Capitalisation at Admission: ~A$19.3 million
Offer Opening Date: 5 September 2025
Offer Closing Date: 19 September 2025 (5pm WST)
Expected ASX Quotation: 30 September 2025
Joint Lead Managers: PAC Partners Securities Pty Ltd and Sandton Capital Advisory Pty Ltd
Capital Structure & Offer
Offer: 55M CDIs @ $0.20 to raise $11M.
CDIs on issue post-listing: ~96.4M (undiluted).
Market cap at listing: ~$19.3M.
Strategic Positioning - Titanium & Critical Minerals
Combines exploration assets with technology, aiming for vertical integration from mine to end-user.
Positioned against ASX-listed peers such as IperionX and Alpha HPA, yet Temas is at an earlier stage with clear commercialisation catalysts.
Key Highlights
Critical Mineral Projects – Québec
La Blache Project (Figure 2): 130 claims covering ~7,000 hectares with an inferred resource of 208.5 Mt @ 16.5% TiO₂ Eq. Plans include HQ diamond drilling to upgrade resources to Measured & Indicated status.
Figure 2: Location of La Blache Project, Quebec (source: TIO).
Lac Brule Project (Figure 3): 36 claims containing high-grade hemo-ilmenite zones up to 34% TiO₂. Targeting Preliminary Economic Analysis (PEA) by 2026.
Figure 3: Location of the Lac Brûlé Project, Quebec (source: TIO)
Patented Processing Technology – Regenerative Chloride Leach (RCL)
Portfolio of 11 process patents delivering 59–69% cost reductions compared to industry standards.
Capable of producing 99.8% TiO₂ purity from pilot studies.
Global licensing opportunities under evaluation in Indonesia, Australia, and North America.
Figure 4: RCL Process Flowsheet & Comparison with Traditional Methods (source: TIO).
Use of Funds vs Prospectus
Funds raised will support:
Exploration programs at La Blache and Lac Brule.
Advancing proprietary RCL technology, including test work, patents, and licensing opportunities.
Evaluation of new acquisitions.
General working capital and transaction costs.
The A$11 million raised under the Offer is targeted towards advancing both Temas’ Québec projects and its proprietary RCL technology. Exploration at La Blache and Lac Brule will form the core of expenditure, complemented by ongoing test work, patent filings, and global licensing initiatives for the RCL process. A portion of funds is also earmarked for assessing potential new acquisitions and providing general working capital, alongside covering transaction costs.
Board & Management
Temas is led by an experienced team with strong expertise in critical minerals and metallurgical processing:
Kyler Hardy – Executive Chairman
Tim Fernback – CEO & Director
David Robinson – CFO & Director
Véronique Laberge – Non-Executive Director
Kobi Ben-Shabat – Non-Executive Director
Kyler Hardy, Executive Chairman & Director, commented:
"Temas Resources offers investors a unique combination of patented metallurgical technology with proven cost advantages and strategically positioned Canadian mineral projects, providing a sustainable solution to global critical metal supply vulnerabilities and substantial growth potential. Through Joint Venture or licencing opportunities, Temas is well positioned to capitalise on the two business divisions."
David Caldwell, COO, commented:
"Our mineral exploration assets at La Blache and Lac Brûlé are more than just resource-rich projects — they are uniquely positioned to feed directly into our proprietary RCL processing platform. With high-grade, near-surface titanium-vanadium deposits and proven infrastructure access, we’re building a vertically integrated supply chain that maximizes resource value, lowers processing costs, and drives sustainable growth from the ground up."
Next Steps
(See Figure 5)
Resource Growth – drilling at La Blache to expand and upgrade resources.
Early Economics – advancing Lac Brule towards Preliminary Economic Analysis (PEA) by 2026.
Technology Development – ongoing RCL test work, scale-up studies, and new patent filings.
Licensing Pathway – progress global discussions with potential partners in North America, Australia, and Indonesia.
Strategic Growth – evaluate acquisition opportunities to complement the current portfolio.
Corporate Priorities – maintain working capital discipline and stakeholder engagement.
Figure 5: Development Timeline & Newsflow (source: TIO)
Samso Concluding Comments
Temas Resources Corp (ASX: TIO) is bringing something different for investors to ponder. It is not just about a resource project in Québec – it is about pairing those assets with proprietary metallurgical technology that has the potential to reshape titanium and critical mineral processing. This dual pathway creates optionality: the company can advance its projects, license its technology, or both.
Investors should note that Temas is early in its journey. The Québec projects require systematic drilling and de-risking, and the metallurgical technology, while validated in pilot studies, must prove scalability and commercial adoption. These are real hurdles, but they are also what create the asymmetric upside that attracts early-stage capital.
From a broader perspective, the story fits neatly into the critical minerals narrative that has been building across global markets. Western supply chains are under pressure, titanium is classified as a strategic metal by the US, EU, and allies, and ESG performance in processing is no longer optional but mandatory. Temas is aiming to position itself at the intersection of all three.
I have brought this onto the Samso platform because the metallurgical part of the story is what interests me the most. Like the progress of AI is talking over mainstream technological advances, I feel that there is a new age in metallurgical advances, which may create value for the first movers in this sector.
Look at MTM Critical Metals (ASX: MTM), they have done wonders for their shareholders, and the latest highlight is something that could be there for the likes of Temas. I am not saying that they are in the same league, but where there is smoke, there could be a fire.
MTM’s Flash Joule Heating (FJH) technology delivered game-changing results:
Successfully concentrated high-value magnetic REEs (Nd, Pr, Dy, Tb) in a single flash
Rejected over 80% of low-value La & Ce waste
81% terbium recovered, one of the rarest and most strategic REEs
Doubles magnet-REE content from 30% of TREO to 72%
No acid or solvents used, and remains unoptimised
Another example of what appears to be another win in how to extract metals, like REE, is OD6 Metals' recent release that they have found another way to deliver an economical solution for their clay REE project. Although the OD6 story is different to MTM, it is another path of delivering metal extraction results.
When I look at the happenings in this part of the ASx business, it just feels that the research into an alternative means to extract so-called "hard processes" is gaining momentum, and more importantly, it's a positive momentum.
As I always say, do that DYOR and stay alert.
#SamsoNews – as always, the challenge for investors is to separate the signal from the noise. Temas is signalling a disruptive approach to resource development. Whether that signal translates into long-term shareholder value will depend on execution, funding, and technology uptake. That is the point where investors must do their own research.
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