Year: 2024

Australian Strategic Materials (ASM) is pleased to confirm it has received its second annual public environmental social and governance (ESG) Risk Rating from Morningstar Sustainalytics, improving to a 27.7 Medium risk rating from a 32.6 High rating in 2023.

The global ESG Risk Ratings measure a company’s exposure to industry-specific material environment, social and governance risks and how well a company is managing those risks.

Significant improvement

This latest rating positions ASM in the top 10% of companies globally within the Diversified Metals-Mining Industry Group.

“Our latest rating represents a significant improvement in overall performance and is recognition of the strategic work we have conducted to strengthen our ESG management,” said Ms Agata Carrabs, VP Risk and Corporate Services.

“ASM is committed to ensuring it operates to high ESG standards and recognises the importance of ESG reporting to identify, assess and manage ESG risks across the business,” said Ms Carrabs.

As ASM establishes itself as a vertically integrated producer of critical metals for sustainable energy solutions, advanced technologies and new growth industries, the Company’s approach to sustainability and ESG activities is core to delivering ASM’s unique mine to metals strategy.

We are pleased to advise our Quarterly Activities Report to 31 March 2024 has been released.

In line with ASM’s strategic business priorities, this Quarter the Company:

• Received a non-binding and conditional Letter of Interest (LoI) from the Export-Import Bank of the United States (US EXIM) to provide a debt funding package of up to US$600 million for the construction and execution phase of the Dubbo Project;
• Appointed global engineering company Bechtel to conduct Front-End Engineering Design (FEED) services for the Dubbo Project;
• Submitted an application to cover >80% of the Bechtel FEED services contract to US EXIM’s Engineering Multiplier Program (EMP) and received a non-binding and conditional Letter of Interest from US EXIM to provide a debt funding package of ~US$32 million in support of this application;
• Progressed non-process infrastructure Study work and other critical early establishment work at the Dubbo Project; and
• Received an improved ESG Risk Rating from Morningstar Sustainalytics, positioning ASM in the top 10 per cent of companies globally within the Diversified Metals-Mining Industry Group.

Subsequent to the conclusion of the Quarter, ASM made material announcements related to:

• The successful completion of an institutional placement to raise A$15 million and the Company’s intention to undertake an Entitlement Offer to target up to approximately A$5.2 million; and
• The receipt of a non-binding and conditional Letter of Interest from Export Development Canada to provide a debt funding package of up to A$400 million for the construction and execution phase of the Dubbo Project.

Australian Strategic Materials (ASM) is pleased to advise that it has executed an exclusive option agreement with Caspin Resources Limited (Caspin) (ASX:CPN) to enter into a joint venture agreement to earn up to 75% of the rare earth element (REE) rights in Caspin’s Mount Squires Project, located in the West Musgrave region of Western Australia.

Highlights:

• Consistent with its mine to metals strategy, ASM has identified a potential supplementary rare earth supply, that includes a significant proportion of high value heavy rare earths
• Subject to metallurgical testing and drilling, this source may be suitable for processing at ASM’s planned separation and refining facility at the Dubbo Project
• Agreement to provide ASM with an option to earn up to 75% of the REE rights in Caspin’s Mount Squires Project through staged earn in rights
• REE metallurgical testwork and drilling to be undertaken at the Mount Squires Project over the next 3-9 months prior to ASM deciding whether to exercise its option to enter into a joint venture agreement with Caspin

Listen to Australian Strategic Materials (ASM) Managing Director and CEO Rowena Smith talk through the Company’s latest investor presentation.

Click the link below to access the recording.

Australian Strategic Materials (ASM) Managing Director and CEO Rowena Smith, spoke to Proactive Investor’s Jonathan Jackson following two exciting announcements regarding development and funding progress for the Company’s rare earths and critical minerals Dubbo Project.

Watch the full interview below…

 

ASM Managing Director and CEO Rowena Smith was in Toronto, Canada earlier this month for the 2024 PDAC Convention.

PDAC is one of the world’s largest mineral exploration and mining events and this year’s convention provided a host of opportunities for engagement with government, investors, customers and suppliers.

As well as presenting the ASM opportunity at the Australia Presentation Day, Rowena participated in the critical minerals roundtable hosted by Australia’s Minister for Resources the Hon Madeleine King (above). Minister King also released a joint statement with Canada’s Minister for Energy and Natural Resources, Jonathan Wilkinson, outlining the shared priorities both countries will cooperate on to build the critical minerals supply chain.  

Rowena also had the chance to sit down with Jack Lifton and Tracy Weslosky from Investor News to discuss ASM’s latest funding activities for the Dubbo Project and operational objectives at the Korean Metals Plant. You can watch both interviews below.