Zinc of Ireland Limited (ASX:ZMI) Shares Fall: Where Does the ARGO Technology Program Stand?

Sonal Goyal

06 November 2026 09:31 PM AEDT

Zinc of Ireland Limited (ASX:ZMI) Shares Fall: Where Does the ARGO Technology Program Stand?

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Key Highlights

Zinc of Ireland (ASX:ZMI) shares finished the 6 November 2026 session at $0.016, down 15.79%.
Initial ARGO testwork recorded leach recoveries of up to 99% for silver from zinc leach residue.
The company received a government development grant of about A$1.2 million in August 2026.

During the Trading session on 6 November 2026, Zinc of Ireland Limited (ASX:ZMI) shares finished at $0.016, down 15.79%, while the S&P/ASX 200 fell 0.49% to 9,020.80. Zinc of Ireland is developing its ARGO technology for recovering critical metals from zinc leach residue. Its latest update is the September 2026 quarterly report, dated 28 October 2026.

Latest Development: September 2026 Quarterly Report (28 October 2026)

The company said its ARGO testwork program is ongoing at Solvomet, a metallurgical research centre in Belgium. ZMI has accelerated and expanded its workplan to focus on recovering germanium, gallium and indium.

Initial test results showed leach recoveries of up to 99% for silver, which the company noted is commonly the highest contained value metal in zinc leach residue. Further results on critical mineral recoveries were expected in the coming weeks.

Latest Development: Funding Support

In August 2026, ZMI was awarded a government development grant of about A$1.2 million for the ARGO technology by the Flanders Innovation and Entrepreneurship agency.

About the Company

Zinc of Ireland is focused on developing the ARGO process, which targets critical metals in zinc leach residue. Its work is at the testwork and development stage.

Sector Context

Germanium, gallium and indium are used in semiconductors, electronics and infrared optics, and Supply chains for these metals are limited. Technology developers in this area are judged on whether laboratory recoveries can be scaled economically.

Risks to Watch

Laboratory recoveries do not guarantee commercial performance at scale. Further critical mineral results are still pending, and development costs may increase as the workplan accelerates. The company will need further funding beyond the current grant.

What Lies Ahead

Investors will be watching for the critical mineral leach recovery results, the next quarterly update and any progress toward a pilot or commercial application of the ARGO technology.

Final Word

The quarterly report sets out early testwork results and a broader program. The next set of results will show whether recoveries for the critical minerals match those reported for silver.

FAQs

Q: What did the ARGO testwork show for silver?

A: Leach recoveries of up to 99% for silver were recorded in initial tests.

Q: Which critical minerals is ARGO targeting?

A: Germanium, gallium and indium.

Q: What grant did ZMI receive?

A: A government development grant of about A$1.2 million from the Flanders Innovation and Entrepreneurship agency, awarded in August 2026.

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