ASM Raises AU$13 Million in Institutional Placement to Advance US and Korean Expansion.

Australian Strategic Materials (ASX: ASM) has successfully completed an institutional placement, raising AU$13 million with strong backing from existing and new institutional investors. This follows an oversubscribed Share Purchase Plan, bringing total capital raised to AU$24.9 million before costs. The placement attracted cornerstone support from the Company Chair and key investors, reinforcing confidence in ASM’s long-term strategy.

Proceeds will be directed towards advancing ASM’s US metallisation expansion, enhancing capabilities at the Korean Metals Plant, and progressing the Dubbo Project’s Rare Earth Options Assessment. The offer was priced at AU$0.5647 per share, representing a discount to recent trading prices. Upon completion, ASM’s cash balance is expected to reach approximately AU$43.9 million. This funding provides a significant boost to ASM’s strategic positioning amid rising global demand for resilient and diversified rare earth supply chains, particularly as geopolitical dynamics drive government interest in critical mineral sourcing and downstream processing capabilities.

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