Month: April 2024

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…