Highlights

  • Globe Metals & Mining shares rose about 16% to A$0.057 on 9 November 2026, valuing it at A$54.78 million.
  • A non-binding Neo Performance Materials MOU covers 150 tonnes a year of niobium pentoxide, roughly half of Phase 1 output.
  • Combined MOUs and a letter of intent cover up to 100% of expected Phase 1 niobium and tantalum production.
  • The 2018 Kanyika resource estimate totals 68.3 million tonnes at 2,830 ppm niobium pentoxide using a 1,500 ppm cut-off.

Globe Metals & Mining Limited (ASX:GBE) shares rose about 16% to A$0.057 on 9 November 2026, lifting its Market Capitalisation to roughly A$54.78 million. The stock is up about 24% over twelve months. The most recent ASX-hosted filing reviewed for this article is the announcement of 7 April 2025 on offtake memoranda of understanding. It pre-dates today's move by more than eighteen months and does not explain the rise. It is used here to outline the Kanyika project as the company described it at that date.

The Neo Performance Materials MOU

In April 2025 the company signed a non-binding memorandum of understanding with Neo Performance Materials for 150 tonnes a year of refined high-purity niobium pentoxide. That equals about 50% of expected Phase 1 output of 313 tonnes a year. The two parties planned to negotiate a binding offtake agreement.

The term runs until Globe delivers 150 tonnes in a year during Phase 1 and then renews annually unless either side gives twelve months' notice. Neo also received a 30-day right of first refusal on tantalum pentoxide and zircon. Pricing is linked to the Asian Metals index, FOB China low.

Other Offtake Arrangements

Earlier agreements add to the package. A letter of intent signed in September 2024 with Affilips gives it the right to buy up to 32% of niobium pentoxide, or about 100 tonnes a year. A March 2025 MOU with Myst Trading covers 100% of expected tantalum pentoxide, about 14 tonnes a year, plus a right of first refusal over 25% of niobium pentoxide.

Taken together, the company said these arrangements cover up to 100% of Phase 1 niobium and tantalum output. None of them is binding yet.

The Kanyika Project

Kanyika is a niobium and tantalum project in Malawi. The company holds security of tenure and the right to mine niobium, tantalum, zirconium and other minor metals under a large-scale mining licence. It plans to develop the project in two phases, with fully integrated on-site mining, concentration and refining to produce high-purity oxides for western markets.

The JORC 2012 mineral resource, dated July 2018, totals 68.3 million tonnes at 2,830 ppm niobium pentoxide and 135 ppm tantalum pentoxide at a 1,500 ppm cut-off. At a 3,000 ppm cut-off, it totals 22.8 million tonnes at 4,220 ppm niobium pentoxide. The company stated it was not aware of new information that materially affects the estimate.

Funding and Studies

The announcement gave no funding amounts or terms. The chief executive said the company was working to finalise key funding processes. An updated bankable feasibility study, which would take the offtake discussions into account, was expected in the June 2025 quarter.

Outlook

The company's stated aim was to convert the non-binding MOUs into binding offtake agreements and complete the updated feasibility study. This outlook reflects the position in April 2025. Later studies, funding steps or offtake outcomes may have changed the picture, so investors should check the company's latest ASX announcements.