Demerger Booklet released & EGM announced for 16 July 2020

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Month: June 2020

Demerger Booklet released & EGM announced for 16 July 2020

Posted on by Ian Donabie

As announced to the ASX on 20 May 2020, ASM’s parent company Alkane has resolved to progress with the Demerger transaction to separately list ASM on the Australian Securities Exchange (ASX), subject to shareholder approval and ASX approval for listing.

The Demerger Booklet was released to the ASX today, along with the notice of meeting for an extraordinary general meeting (EGM) of the shareholders of Alkane Resources Limited to be held on Thursday, 16 July 2020 at 10:00am (AWST).

Alkane shareholders are invited to vote at this EGM, where shareholder approval for the Demerger will be sought.

Due to the coronavirus pandemic and related issues, the meeting will be held virtually through an online portal hosted by Lumi AGM.

All information related to the demerger and online meeting can be found on the Alkane website.

Visit the demerger page on the Alkane website

 

ASX Releases

ASM’S Korean partner receives US$4.5 million grant from Korean government for clean metals R&D

Posted on by Ian Donabie

The Korean Government has awarded US$4.5 million in grants to ASM’s Korean R&D partner Zirconium Technology Corporation (Ziron Tech) to use to progress its commitment to the Joint Venture (JV) with ASM. The grants were awarded as part of the Korean Government’s US$5 billion Industrial Technological Program, led by the Korean Ministry of Industry, Trade and Resources as it seeks to establish clean metal supply independence and advance material technology for future market demand.

Ziron Tech has received funding for the development of a low emission, high purity metal refining technology that can be applied to zirconium, titanium, rare earths for permanent magnet alloys. This development is occurring in JV with ASM who has the exclusive rights to the commercialisation of the technology worldwide. The technology is intended to replace conventional energy-intensive metallisation processes with a more environmentally friendly, sustainable and cost-effective alternative.

Australian Strategic Materials Managing Director, David Woodall said: “We are pleased that both ASM and the technology we are developing in partnership with Ziron Tech has been recognised by the Korean Government as critical in its journey to ensuring sovereign supply for critical materials. The technology to produce critical metals adds value to our project and is key to the growth of Korea’s and Australia’s new technology and manufacturing sectors, with the strong government focus on increasing domestic production to secure supply stability.”

The JV between ASM and Ziron Tech is finalising the commissioning of its commercial pilot plant facility to produce these high-purity metals in parallel with developing the design for the world’s first commercial-scale metal plant.

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