Humanoid robots still feel a bit like sci-fi, but the money piling into them says they’re coming a lot quicker than most people expect.
Tesla might be the loudest voice, but they are just one player in an industrial arms race. We are watching a massive convergence of big tech, auto makers and Chinese groups all driving toward the same goal of mass-produced humanoid labour.
And if even a fraction of the forecasts are right, the world will need a lot more titanium than it currently has.
Which brings us to Fortuna Metals (ASX: FUN).
FUN is a rutile explorer that just released results making it one of the most interesting early-stage plays on the ASX. Rutile is the cleanest feedstock for titanium, and FUN’s latest numbers from Malawi suggest they might be sitting on a monster system.
The company confirmed broad, coherent rutile anomalies across roughly 52 square kilometres at Mkanda, with grades reaching as high as 2.32% rutile and 59 samples above 1%.
FUN sits at a $28 million market cap, yet the numbers are starting to compare comfortably with its neighbour to the north, Sovereign Metals, which trades at more than 10 times FUN’s valuation.
Hand-auger drilling is moving quickly too. 309 holes have been completed at Mkanda and another 28 at Kampini.
First assays are expected from mid-December, with the rest flowing through the first quarter of 2026. It sets FUN up for a steady run of news into the new year.
Cast your mind back to four years ago, when Tesla unveiled a dancer in spandex and called it a robot. Now, Tesla is planning production runs in the tens of thousands and already has them working in its factory. China is moving even faster, and analysts are throwing around trillion-dollar market caps for the sector. It all underlines the pace this industry is scaling at.
Whether those forecasts land exactly doesn’t matter much. The direction’s set. More robots means more titanium, and more titanium means more rutile.
FUN heads into the next year with a big footprint, rising grades, incoming assays and a clear thematic behind it.
And betting against Elon has rarely been the winning side.
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