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The latest announcement is out from Australian Strategic Materials Ltd ( (AU:ASM) ).
In its quarterly activities report, Australian Strategic Materials Ltd announced progress in its Dubbo Project Rare Earth Options Assessment, aimed at identifying cost-effective and quicker implementation pathways for extracting rare earth elements. The company received a A$5M grant from the Australian Federal Government to support this initiative, with initial test results showing promise. Additionally, ASM continued its deliveries of NdPr metal and NdFeB alloy to magnet producers, while maintaining strong cash flow discipline and a closing cash position of A$32.6M, reinforcing its strategic business priorities.
More about Australian Strategic Materials Ltd
Australian Strategic Materials Ltd (ASM) operates within the critical minerals industry, focusing on the supply of rare earths and critical minerals. The company is particularly involved in the development of the Dubbo Project, which is integral to its mine-to-metals business.
YTD Price Performance: -10.38%
Average Trading Volume: 176,381
Technical Sentiment Consensus Rating: Buy
Current Market Cap: A$86.13M
See more insights into ASM stock on TipRanks’ Stock Analysis page.
