May 16, 2024 — In a recent interview with InvestorNews host Tracy Weslosky, Rowena Smith, Managing Director of Australian Strategic Materials Ltd. (ASX: ASM), provided insights into the company’s significant financial achievements and strategic advancements. ASM successfully completed an oversubscribed institutional placement, raising A$15M, with an additional A$5.2M anticipated from an entitlement offer. Smith expressed satisfaction with the strong financial support, stating, “We were very happy to see the support that we have had.” These funds are crucial for demonstrating co-commitments necessary to secure substantial government funding, furthering the development of ASM’s Dubbo Project.
Smith highlighted substantial commitments from international export credit agencies (ECAs). Export Finance Australia provided a A$200M letter of support and facilitated connections with other global agencies. This effort included a USD$600M support letter from the US Export-Import Bank (US EXIM) and an additional USD$32M for Bechtel’s final engineering phase. Canada’s Export Development Agency also extended a letter of interest for A$400M. Smith emphasized the growing international cooperation, noting, “What we’ve seen increasingly in the last six months is really active cooperation between the ECAs.” These commitments underscore the Dubbo Project’s strategic importance in the global critical minerals supply chain.
To access the complete InvestorNews interview, click here
Don’t miss other InvestorNews interviews. Subscribe to the InvestorNews YouTube channel by clicking here
About Australian Strategic Materials Ltd.
Australian Strategic Materials (ASX: ASM) is a vertically integrated ‘mine to metals’ producer of critical metals for new growth industries, high technologies and sustainable energy solutions. ASM operates a metals plant in in Ochang, South Korea which is currently producing critical metals and alloys to customer specifications. The initial production focus is on neodymium praseodymium (NdPr) and neodymium iron boron (NdFeB). Currently, ASM sources the rare earth oxides for the production of the critical metals at its Korean Metals Plant (KMP) from a third party located in Vietnam. The company’s Dubbo Project, is a long-term resource of rare earth elements, zirconium, niobium and hafnium, located in New South Wales, Australia. ASM intends to develop the Dubbo Project to produce metal oxides which will be used for refining into critical metals at ASM’s KMP and subsequent plants that may be established in other jurisdictions.
To learn more about Australian Strategic Materials Limited, click here
Disclaimer: Australian Strategic Materials Limited is an advertorial member of InvestorNews Inc.
This interview, which was produced by InvestorNews Inc. (“InvestorNews”), does not contain, nor does it purport to contain, a summary of all material information concerning the Company, including important disclosure and risk factors associated with the Company, its business and an investment in its securities. InvestorNews offers no representations or warranties that any of the information contained in this interview is accurate or complete.
This interview and any transcriptions or reproductions thereof (collectively, this “presentation”) does not constitute, or form part of, any offer or invitation to sell or issue, or any solicitation of any offer to subscribe for or purchase any securities in the Company. The information in this presentation is provided for informational purposes only and may be subject to updating, completion or revision, and except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any information herein. This presentation may contain “forward-looking statements” within the meaning of applicable Canadian securities legislation. Forward-looking statements are based on the opinions and assumptions of the management of the Company as of the date made. They are inherently susceptible to uncertainty and other factors that could cause actual events/results to differ materially from these forward-looking statements. Additional risks and uncertainties, including those that the Company does not know about now or that it currently deems immaterial, may also adversely affect the Company’s business or any investment therein.
Any projections given are principally intended for use as objectives and are not intended, and should not be taken, as assurances that the projected results will be obtained by the Company. The assumptions used may not prove to be accurate and a potential decline in the Company’s financial condition or results of operations may negatively impact the value of its securities. This presentation should not be considered as the giving of investment advice by the Company or any of its directors, officers, agents, employees or advisors. Each person to whom this presentation is made available must make its own independent assessment of the Company after making such investigations and taking such advice as may be deemed necessary. Prospective investors are urged to review the Company’s profile on SedarPlus.ca and to carry out independent investigations in order to determine their interest in investing in the Company.
Leave a Reply