Join our daily newsletter At The Bell to receive exclusive market insights
- Alkane Resources’ (ALK) subsidiary, Australian Strategic Minerals (ASM), has announced Export Finance Australia (EFA) will support development of the Dubbo Project
- EFA has provided a letter of support to help ASM’s ongoing discussions with potential strategic investors, other Government financiers and offtake parties
- The Dubbo Project is an advanced polymetallic project with large in-ground resources and a potential mine life of more than 75 years
- The project is development ready, subject to finance, with land acquired, State and Federal approvals in place and piloting and engineering completed
- Alkane Resources is up 6.2 per cent to 86 cents a share
Alkane Resources (ALK) has announced that Export Finance Australia (EFA) will support development of the Dubbo Project.
The company’s subsidiary, Australian Strategic Materials (ASM), will be working closely with EFA regarding the development of the project.
EFA is the Australian government’s Export Credit Agency, with a mandate to support Australian businesses as they seek to develop new Australian export markets.
EFA has provided a letter of support to strengthen ASM’s ongoing discussions with
potential strategic investors, other Government financiers and offtake parties for the Dubbo Project.
The Dubbo Project is an advanced polymetallic project with large in-ground resources of zirconium, hafnium, niobium, yttrium and rare earth elements, with a potential mine life of more than 75 years.
The 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.
“It is very pleasing to see positive action by EFA,” ASM’s Managing Director David Woodall commented.
“I look forward to continuing ASM’s discussions with strategic partners and offtake parties, particularly with the ongoing trade support and now potential financial support from the Australian Government,” he added.
Alkane Resources is up 6.2 per cent to 86 cents a share as at 2:12 pm AEDT.
