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Typical of Trump to expect things to go both ways. After the U.S. EXIM bank offered support to Arafura on Tuesday, as well as to Latrobe Magnesium (which wasn’t on too many people’s bingo cards), a third winner has emerged from the diplomatic meeting – one this finance journalist missed on Tuesday.
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Astron Ltd (ASX:ATR), a dual Australia-U.S. listed miner that, like EXIM for Latrobe, Australia’s Export Finance Agency (EFA) has now offered conditional support to, in what is clearly a favour, from one export financing agency to another.
So what does Astron do? While they’re based in Australia, the company is also listed on the NYSE and TSX, and it’s got the ‘Donald’ deposit in Victoria, Australia, ultimately a heavy mineral, or if you’d prefer, a rare earths play.
Astron, too, mightn’t have been on too many radars, unless you’d already invested. Though if you’d spotted its U.S. operations, you could have been a quiet winner.
“The shovel-ready Donald Project is one of Australia’s most advanced critical mineral projects, targeting the production of rare earth elements (REEs), which are expected to be shipped to Energy Fuels’ mineral processing facility in the U.S. for production of advanced REE materials,” Astron wrote in its disclosure Wednesday.
“Notably, the heavy rare earths expected to be produced from Donald Phase 1 would satisfy approximately one third of U.S. demand for Dy and a quarter of U.S. demand for Tb, elements that are critical to the clean energy, defence and advanced manufacturing industries.”
ATR last traded at 99cps.
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