Quarterly Activities Report to 31 March 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.
ASM