Australian Strategic Materials Ltd (AU:ASM) has released an update.
Australian Strategic Materials Ltd (ASM) has successfully closed its Entitlement Offer, raising approximately A$1.6 million following a prior A$15 million placement. The funds will be allocated to secure government funding for the Dubbo Project and cover general corporate costs. The strong backing from major shareholders and directors, with notable support from Chair Ian Gandel, underscores the confidence in the company’s strategic direction.
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