Abstract: Bulk metastable, amorphous or fine crystalline alloy materials are produced by reacting cold-worked, mechanically deformed filamentary precursors such as metal powder mixtures or intercalated metal foils. Cold-working consolidates the metals, increases the interfacial area, lowers the free energy for reaction, and reduces at least one characteristic dimension of the metals. For example, the grains (13) of powder or the sheets of foil are clad in a container (14) to form a disc (10). The disc (10) is cold-rolled between the nip (16) of rollers (18,20) to form a flattened disc (22). The grains (13) are further elongated by further rolling to form a very thin sheet (26) of a lamellar filamentary structure (FIG. 4) containing filaments having a thickness of less than 0.01 microns.