Category: Corporate and reports

ASM’s results for the financial year ended 30 June 2020 can be downloaded below.

The principal activities during the course of the year were mineral evaluation activities for the Dubbo Project, a large in‐ground resource of zirconium, hafnium, niobium and rare earth elements. ASM’s subsidiaries include Australian Strategic Materials (Holdings) Limited that continues to focus on mineral evaluation activities for the Dubbo Project and Toongi Pastoral Company Pty Ltd that continues to focus on managing the farm activities (breeding and grazing of sheep and cattle) and biodiversity offsets as part of the Dubbo Project activities.

The Dubbo Project is development ready, subject to financing, with the mineral deposit and surrounding land acquired and all major State and Federal approvals in place.

Download the full report

 

Alkane Resources (ASX: ALK) has announced that the in specie distribution and transfer of Australian Strategic Materials Limited (ASX: ASM) shares to Alkane Eligible Shareholders and the Sale Agent, completed yesterday, in line with the timetable detailed in the Demerger Booklet released to the ASX on 17 June 2020.

The total number of ASM shares on issue is 119,049,778.

Holding statements were dispatched to ASM shareholders yesterday. ASM’s share register is managed by Advanced Share Registry. ASM shareholders can contact Advanced Share Registry with any questions regarding their shareholding on 1300 113 258 (within Australia) or +61 8 9389 8033 (outside Australia).

The ASX has indicated that all requirements for listing have been met and that ASM’s first day of trading is confirmed to be Thursday, 30 July 2020.

The demerger completes the process that allows ASM to focus on becoming a key Australian producer of critical materials and Alkane to focus exclusively on becoming Australia’s next multi-mine gold producer.

Read the full ASX release

Nine News showcases the benefits of the Dubbo Project, ASM’s clean metal production and outlines the importance of keeping critical material supply chains in Australia.

When we pick up our mobile phone, few would think about the technology – and rare earth materials – that make it all possible. @eddy_meyer #9News pic.twitter.com/fmh3hdhzGL

— 9News Sydney (@9NewsSyd) July 26, 2020

ASM’s parent company Alkane Resources has announced that shareholders have approved the demerger of ASM.

Key points:

• Alkane shareholders overwhelmingly approve the Demerger of ASM, with both resolutions tabled at the Extraordinary General Meeting passed.
• ASM will become one of Australia’s preeminent specialty materials development companies when it lists on the ASX, which is on track, and expected on or around 30 July.
• Alkane will become a pure-play Australian gold company with balance sheet strength, a quality production asset in Tomingley, and an exciting development pathway with one of Australia’s most significant exploration discoveries at Boda.

Chairman Ian Gandel commented, “The board is delighted that Alkane shareholders have supported this critical corporate initiative for our company with such an overwhelming majority. Indeed, in excess of 99.9% of votes cast at the meeting were in favour of the Demerger transaction

“During implementation planning, and with the appointment of David Woodall as Managing Director of ASM earlier in the year, we are already seeing the benefits of a clear strategic focus for both companies.”

Read the full ASX Release

 

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

• Demerger Booklet including Notice of Meeting
• Demerger Letter to Holders and Meeting Information
• Appendix 3A.5
• Proxy Form for Demerger Extraordinary General Meeting

Australian Strategic Materials (ASM) is one step closer to listing on the ASX, as the board of Alkane Resources (ASX: ALK) has resolved to progress the demerger of ASM, and listing ASM on the ASX, subject to finalisation of outstanding regulatory matters and shareholder approval at an Alkane Shareholder Meeting expected to be convened in early July 2020. ASM is currently anticipated to list in mid-July 2020.

Alkane Chairman Ian Gandel said, “The turbulence experienced in global equity markets in March and April has abated to the extent that the Alkane board has decided the time is right to make the final preparations to demerge and list ASM in the coming months, subject to shareholder approval.

“Since joining in February, ASM Managing Director, David Woodall, and the ASM team have focused on distilling the key value drivers for ASM and the Dubbo Project, and have brought new focus, momentum and opportunity to the team which is working hard to realise catalysts for the Dubbo Project and the ‘Clean Metal’ metallisation technology in South Korea.

“The demerger of ASM will provide investors two opportunities to grow value; in Alkane as a growing gold exploration, development and production company, and in ASM as an exciting critical materials business leveraged to the changing world economy.”

Read the full ASX release from Alkane Resources

 

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ASM Overview

ASM’s $1 billion Dubbo Project in Central West NSW is an advanced polymetallic project with a large in-ground resource of zirconium, rare earth elements (including yttrium), niobium, and hafnium. This polymetallic project represents a strategic and independent supply of critical minerals for a range of sustainable technologies and future industries. The Dubbo Project is development ready, subject to financing, with the mineral deposit and surrounding land acquired, all major State and Federal approvals in place and extensive piloting and engineering completed.

ASM is currently building a pilot plant facility in South Korea to produce these high-purity metals in parallel with developing the design for the world’s first commercial-scale metal plant. This will help meet the growing demand for a new source into domestic and global markets for ASM’s range of high-purity and value-added critical metals – including zirconium, rare earth magnet metals, praseodymium and neodymium, and hafnium.

In March, the Australian Government-owned Export Finance Australia (EFA) confirmed interest in financing ASM’s Dubbo Project, stating it closely aligns with the recently announced initiative by the Australian Government to develop its “Critical Minerals” sector.

Substantial preparation has already occurred in readiness for ASM to operate as an independent listed entity. Today, Mr Woodall will be presenting at the Goldman Sachs Webinar Series. You can view the presentation here.