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ASM - AUSTRALIAN STRATEGIC MATERIALS LIMITED


nipper
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  • 4 weeks later...

ASM TO BOLSTER BALANCE SHEET THROUGH $65M PLACEMENT AND UP TO A FURTHER $41M THROUGH ENTITLEMENT OFFER

 

 

 

Highlights:

• Firm commitments received to raise approximately $65m through Placement at $4.80 per share

• Strong international and domestic demand, with several high-quality institutions participating in the Placement

• Funds raised from the Placement significantly strengthens ASM's existing cash position, with further funds expected to be raised from the Entitlement Offer

• Proceeds provide funding for ASM to focus on advancing key workstreams including engineering and development of Korean Metals Plant and the FEED Study for the Dubbo Project, while also providing additional working capital and funding of corporate costs

• 1 for 14 Entitlement Offer will now proceed, at the same pricing as the Placement, to raise up to a further $41m, with some of ASM's largest shareholders committing to take up approximately 29.4% of entitlements under the Entitlement Offer .

. Priced pretty tightly, and market seems to like it, with ASM up 10c to $5+

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  • 3 months later...
  • 3 weeks later...

ASM signs $US250m framework agreement with South Korean consortium for 20% in Dubbo Project and offtake from Korean Metals Plant

 

Key points

• ASM has signed a conditional framework agreement with a consortium of South Korean investors for the acquisition of a 20% equity interest in ASMs Dubbo Project holding company.

• Under the Agreement a consortium fund will invest $US250m for the 20% equity interest.

• The Investing Partnership intends to establish a second fund to develop a domestic Korean permanent magnet manufacturing business that will enter into an offtake agreement for NdFeB (neodymium-iron-boron) alloy from the ASM Korean Metals Plant.

• The Agreement creates a pathway for ASM to develop the Dubbo Project and execute its mine to metal strategy

.

 

and up to a high of $8.85, now settling at $8.70 .... nearly 20% up

 

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  • 8 months later...
On 8/25/2021 at 12:57 PM, nipper said:

the rise and rise of ASM .... Now $13.50. The last few months have been spectacular.

But that was about it. A double peak with highs above $14.00 in August then November since then a retreat to $5.26 today ..... despite progress, news and alliances with Hyundai, and the critical minerals plant in Korea pushing ahead.. Now in a Trading Halt:

Screen Shot 2022-05-13 at 10.29.43 am.pngr ,

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