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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.