Australian Strategic Materials Ltd (AU:ASM) has released an update.
Australian Strategic Materials Ltd (ASM) has made significant strides in securing funding for its Dubbo Project, with non-binding letters of interest for debt funding packages totaling up to US$600 million from the US EXIM and A$400 million from Export Development Canada, contingent on due diligence and approvals. Additionally, ASM has appointed Bechtel for engineering design services and raised A$15 million through an institutional placement, with plans for additional funding through an Entitlement Offer. These developments, alongside an improved ESG Risk Rating, highlight ASM’s momentum in establishing the Dubbo Project as a key player in the global supply of rare earths and critical minerals.
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