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Astron Limited ( (AU:ATR) ) has issued an announcement.
Astron Limited announced that its Donald Rare Earth and Mineral Sands Project has been awarded Major Project Status by the Australian Federal Government, and received a conditional Letter of Support for up to $80 million from Export Finance Australia. The project is expected to generate significant financial returns, with an annual average EBITDA of $118 million and a pre-tax NPV of $837 million over a 42-year mine life. The company is advancing discussions for debt funding and has commenced early works for project development, including the construction of a raw water pipeline and procurement of mechanical equipment. Shareholders have approved the redomicile of the parent entity to Australia, and Astron Limited has begun trading on the ASX.
More about Astron Limited
Astron Limited operates in the rare earth and mineral sands industry, focusing on the development of the Donald and Jackson projects in Victoria, Australia. The company is involved in a joint venture with Energy Fuels Inc. for the Donald Project, which has significant ore reserves and mineral resources, and also owns the Jackson Project, which holds substantial mineral resources and exploration potential.
Average Trading Volume: 232,340
Technical Sentiment Signal: Strong Buy
See more insights into ATR stock on TipRanks’ Stock Analysis page.