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Australian Strategic Materials Ltd ( (AU:ASM) ) just unveiled an update.
Australian Strategic Materials Ltd has successfully raised A$13 million through an institutional placement, with strong backing from both new and existing investors. This capital, along with funds from a recently oversubscribed Share Purchase Plan, will be used to advance ASM’s US metallisation expansion, ramp up production at its Korean Metals Plant, and accelerate rare earth oxide production at the Dubbo Project. These initiatives align with global market trends towards diversified rare earth supply chains, positioning ASM to capitalize on geopolitical shifts and increasing demand for critical metals.
More about Australian Strategic Materials Ltd
Australian Strategic Materials Ltd (ASM) operates in the rare earth and critical metals industry, focusing on the production and supply of these essential materials. The company is engaged in expanding its metallisation capabilities in the US and enhancing production at its Korean Metals Plant, with a strategic emphasis on establishing a resilient and diversified supply chain for rare earth elements.
Average Trading Volume: 411,413
Technical Sentiment Signal: Hold
Current Market Cap: A$130.6M
Learn more about ASM stock on TipRanks’ Stock Analysis page.
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