Australian Strategic Materials (ASM) has announced that following ongoing discussions with HEC in relation to the development of the Dubbo Project, it has signed a Heads of Agreement with Hyundai Engineering Corporation Co., Ltd., to exclusively negotiate with HEC the delivery of the FEED, which could progress to the EPC. The agreement for the exclusive…
Australian Strategic Materials Limited (ASM) is pleased to advise that the consortium of South Korean Investors, comprising Cerritos Holdings Co., Ltd, Kamur Partners LLC and ACE Equity Partners LLC, (the Investing Partnership) has successfully completed due diligence on the Company’s flagship Dubbo Project. This represents a key milestone in progressing the consortium fund’s proposed conditional…
Key points Optimisation Work for Dubbo Project confirms a strong expected rate of return with pre-tax NPV of AUD 2,361 million, pre-tax IRR of 23.5%, and annual free cash flow (full ramp-up) of AUD 425 million Capital cost estimate of AUD 1,678 million consisting of direct capital of AUD 1,307 million, indirect capital of AUD…
Technical due diligence of the Dubbo Project occurring under the Framework Agreement with the Investing Partnership of Korean private equity firms (ASX Announcement: 21 July 2021) has advanced with significant effort made by both parties. However, due to Covid19 travel restrictions between Australia and Korea and on travel within Australia, and the extensive scope of…
Australian Strategic Materials Limited (ASX: ASM) welcomes Prime Minister Scott Morrison’s comments from Washington DC over the weekend following the Quadrilateral Security Dialogue. Speaking from outside the White House at the end of the Quad meeting of leaders, Mr Morrison said Australia would host a clean energy summit next year under the Quad umbrella that…
ASM (the Company) has entered into a conditional exclusive framework agreement (Agreement) with a consortium of South Korean Investors to subscribe for a 20% equity interest in Australian Strategic Materials (Holdings) Ltd (ASMH) for a subscription price of US$250m (equivalent to AU$340m based on current exchange rates) (Proposed Transaction). ASMH is a wholly owned subsidiary…
ASM is pleased to announce conditional finance support from Export Finance Australia (EFA) to secure A$ 200 million of debt funding for its Dubbo Rare Earths Project in Central NSW. EFA has advised that it will commence detailed due diligence of the Dubbo Project, in line with the agency’s mandate to support eligible Australian projects…
Australian Government-owned’ Export Finance Australia (EFA) has confirmed interest in financing Alkane Resources’ (ASX: ALK) Dubbo rare earths Project, stating it closely aligns with the recently announced initiative by the Australian Government to develop its “Critical Minerals” sector. Alkane through its wholly-owned subsidiary Australian Strategic Materials (“ASM”) has been engaged with the Australian Government for…