ASM’s Share Purchase Plan (SPP) has closed substantially oversubscribed, raising A$11,862,000 million and well exceeding the target amount of A$3 million.
The Directors have elected to accept the oversubscription amount. The decision followed extremely strong demand for the SPP Offer and reflects the Company’s commitment to its supportive retail shareholders. The additional funding enables ASM to accelerate key strategic initiatives such as a potential US expansion off the back of recent news in the global rare earths market.
While our SPP was open, we delivered:
➡️ our Heap Leach Scoping Study;
➡️ our first heavy rare earth metals sale; and
➡️ a new MOU with Neo Performance Material.
“We are thrilled by the response to ASM’s Share Purchase Plan, which was significantly oversubscribed – a clear and powerful endorsement from our shareholders. This exceptional level of support reflects confidence in ASM’s strategic vision and our pivotal role in the global rare earths supply chain.
Rowena Smith, Managing Director & CEO
Funds raised will support key strategic initiatives, including the ramp-up of our Korean Metals Plant, potential US expansion, and further Heap Leach work at Dubbo Project.