Following its demerger from Alkane Resources and the listing of its shares on the ASX in July 2020, the company can now focus on its critical materials.
Australian Strategic Materials Ltd achieves key milestones toward mine to metal vision proactiveinvestors.com.au - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from proactiveinvestors.com.au Daily Mail and Mail on Sunday newspapers.
Australian Strategic Materials details key investment and offtake deal for Dubbo project
Australian Strategic Materials Ltd (ASX:ASM) s David Woodall speaks to Proactive following news of a conditional exclusive framework agreement which sees a consortium of South Korean investors subscribe for a 20% equity interest in the Dubbo project along with offtake from the company s Korean Metals Plant.They ll invest US$250 million in the project s holding company Australian Strategic Materials (Holdings) Ltd (ASMH) and it will include provision for a 10-year offtake agreement for up to 2,800 tonnes per annum of neodymium-iron-boron alloy from the Korean Metals Plant (KMP).
Quick facts: Australian Strategic Materials Ltd
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Australian Strategic Materials hits new high on US$250 million framework agreement with South Korean consortium for 20% of Dubbo Project
This agreement creates a financing pathway for ASM to develop the Dubbo Project and execute its mine to metal strategy. At the signing ceremony, from left, Australian Ambassador to the Republic of Korea Catherine Raper, ACE Equity Partners CEO David Ko, Cerritos Holdings CEO PS Ra, Kamur Partners CEO Jerry Kwak, ASM chair Ian Gandel, Australian Minister for Trade, Tourism and Investment Dan Tehan and ASM managing director David Woodall.
Australian Strategic Materials Ltd (ASX:ASM) (OTCMKTS:ASMMF) has hit a new high after entering a conditional exclusive framework agreement with a consortium of South Korean investors to subscribe for a 20% equity interest in the Dubbo Project along with offtake from the company s Korean Metals Plant.
Why is Australian Strategic Materials (ASX:ASM) share price higher today?
Kerry Sun | April 29, 2021 10:52am |
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Australian Strategic Materials Ltd(ASX: ASM) share price has nudged 1% higher on Thursday after the company released its March quarterly activities report.
Australian Strategic Materials is an integrated materials business and emerging ‘mine to manufacturer’ producer of critical metals. The company owns the Dubbo project in NSW, a proven long-term resource of rare earths.
Currently, the company is developing its metallisation plant in South Korea to produce a range of high-purity metals and alloys.
At the time of writing, the share price has retreated slightly to $4.82, up 0.84%.