How to convert all TIFFs to PNGs in a separate sub directory using ImageMagick / GraphicsMagick

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From stack overflow Batch Processing tif images? Converting .tif to .jpeg, I modified jpg to be png. This uses imagemagick but I believe if you add gm in front of convert you can use graphicsmagick

mkdir PNG; convert *.TIF -set filename: "%t" PNG/%[filename:].png

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