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Australian Strategic Materials Ltd ( (AU:ASM) ) has issued an update.
Australian Strategic Materials Ltd (ASM) has decided not to exercise its option to earn up to 75% of the Rare Earth Element rights at the Mount Squires Project in Western Australia. This decision, effective from June 1, 2025, follows ASM’s high-level metallurgical testwork aimed at creating a REE-enriched mineral concentrate for their Dubbo Project. Caspin Resources, which owns the Mount Squires Project, acknowledges the potential for significant heavy REE mineralization and plans to explore alternative development avenues. Meanwhile, Caspin remains focused on its Bygoo Tin Project, having recently raised over $2 million to support ongoing exploration activities.
More about Australian Strategic Materials Ltd
Caspin Resources Limited is a mineral exploration company based in Perth, Western Australia, specializing in early-stage exploration and development. The company has three Australian projects offering a diverse mix of commodities, including the Bygoo Tin Project in New South Wales, the Yarawindah Brook Project in Western Australia, and the Mount Squires Project in the West Musgrave region. Caspin focuses on adding value through exploration and discovery, particularly in tin, rare earth elements, and base metals.
Average Trading Volume: 412,203
Technical Sentiment Signal: Sell
Current Market Cap: A$94.3M
For an in-depth examination of ASM stock, go to TipRanks’ Stock Analysis page.