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- Australian Strategic Materials (ASM) places its shares in a trading halt relating to a capital raise
- The company will remain in the halt until Wednesday, November 2, or when further details are released, whichever occurs first
- ASM is yet to disclose how much it intends to raise or what it will use the funds for once received
- Shares in ASM last traded at $1.98 on October 28
Australian Strategic Materials (ASM) has placed its shares in a trading halt relating to a capital raise.
The company will remain in the halt until Wednesday, November 2, or when further details are released, whichever occurs first.
ASM is yet to disclose how much it intends to raise or what it will use the funds for once received.
In September, the company’s subsidiary secured its first sale of neodymium-praseodymium (NdPr) metal.
KSM Metals signed a binding agreement with Korean company NS World to sell NdPr ingot from ASM’s metals plant in Korea.
The deal will see KSM sell and deliver up to 10 tonnes of the NdPr metal from September to December 2022. NS World plans to use the metal product to make bonded magnets.
Shares in ASM last traded at $1.98 on October 28.
