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The latest update is out from Australian Strategic Materials Ltd ( (AU:ASM) ).
Energy Fuels Inc., via its wholly owned subsidiary EFR Critical Minerals Pty Ltd, has obtained Foreign Investment Review Board approval to acquire up to 100% of ASM through concurrent schemes of arrangement covering all fully paid ordinary shares and all quoted options. This satisfies a key regulatory condition under the Scheme Implementation Deed, although the transaction still requires approval from ASM shareholders, ASM option holders and the Federal Court of Australia.
ASM’s board continues to unanimously recommend that securityholders vote in favour of the schemes, in the absence of a superior proposal and subject to the independent expert concluding they are in securityholders’ best interests. Subject to court approval of the Scheme Booklet, ASM expects to dispatch detailed documentation in May 2026, hold scheme meetings in the second quarter of 2026 and, if all approvals are secured, implement the transaction in early July 2026, potentially marking a significant change in ownership and strategic direction for ASM.
More about Australian Strategic Materials Ltd
Australian Strategic Materials Ltd (ASM) is an Australian-listed company focused on critical minerals, particularly rare earths and related strategic materials. The company operates in the resources and advanced materials sector, targeting supply into global high-tech, energy transition and industrial markets that rely on secure, ethically sourced critical mineral supply chains.
Average Trading Volume: 1,354,412
Technical Sentiment Signal: Buy
Current Market Cap: A$433.4M
See more data about ASM stock on TipRanks’ Stock Analysis page.