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Australian Strategic Materials one step closer to demerger and ASX listing

Australian Strategic Materials one step closer to demerger and ASX listing

Australian Strategic Materials Limited (ASM) is one step closer to listing on the ASX, as the board of Alkane Resources has resolved to progress the demerger of ASM, and listing ASM on the ASX, subject to finalisation of outstanding regulatory matters and shareholder approval at an Alkane Shareholder Meeting expected to be convened in early July 2020. ASM is currently anticipated to list in mid-July 2020.

In February 2020, David Woodall joined ASM as Managing Director, and has focused on distilling the key value drivers for ASM and the Dubbo Project, with the demerger of ASM providing investors opportunities to grow value in ASM as a critical materials business leveraged to the changing world economy.

ASM is currently building a pilot plant facility in South Korea to produce these high-purity metals in parallel with developing the design for the world’s first commercial scale metal plant. This will help meet the growing demand for a new source into domestic and global markets for ASM’s range of high-purity and value-added critical metals – including zirconium, rare earth magnet metals, praseodymium and neodymium, and hafnium.

ASM also owns the $1 billion Dubbo Project in Central West NSW, an advanced polymetallic project with large in-ground resource of zirconium, rare earth elements (including yttrium), niobium, and hafnium. This polymetallic project represents a strategic and independent supply of critical minerals for a range of sustainable technologies and future industries. The Dubbo Project is development ready, subject to financing, with the mineral deposit and surrounding land acquired, all major State and Federal approvals in place and extensive piloting and engineering completed.

In March, the Australian Government-owned Export Finance Australia (EFA) confirmed interest in financing ASM’s Dubbo Project, stating it closely aligns with the recently announced initiative by the Australian Government to develop its “Critical Minerals” sector.

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