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An update from Australian Strategic Materials Ltd ( (AU:ASM) ) is now available.
Australian Strategic Materials Ltd has announced an underwritten share purchase plan (SPP) to raise approximately A$3 million, offering eligible shareholders in Australia and New Zealand the opportunity to purchase shares at a 20% discount to the market price. The SPP, underwritten by Canaccord Genuity, is not expected to materially impact the control of the company, and a potential top-up placement may follow to raise additional funds. This initiative is part of ASM’s strategy to strengthen its financial position and support its ongoing projects in the critical materials sector.
More about Australian Strategic Materials Ltd
Australian Strategic Materials Ltd (ASM) operates in the materials industry, focusing on the production and supply of critical metals and materials. The company is primarily engaged in the development of rare earth and critical mineral projects, with a market focus on providing these essential materials for various high-tech and green technology applications.
Average Trading Volume: 475,493
Technical Sentiment Signal: Hold
Current Market Cap: A$112.4M
See more data about ASM stock on TipRanks’ Stock Analysis page.