ASP Isotopes climbs on entering 25-year supply deal with China's BRICEM

ASP Isotopes

29/11/2022 13:16

** Shares of early-stage advanced materials company ASP
Isotopes  ASPI.O  up 23.2% at $2.84 in premarket trading
    ** ASPI enters into 25-year supply agreement worth up to $27
mln/year for highly enriched Molybdenum-100 (Mo-100) with
Beijing Research Institute of Chemical Engineering Metallurgy
(BRICEM)
    ** Mo-100 is used in preparation of radiopharmaceuticals
used in nuclear medicine procedures to diagnose heart disease
and cancer, to study organ structure and function, and to
perform other important medical applications
    ** Co expects to start deliveries in July 2023 and continues
to have discussions with BRICEM for production of other isotopes
    ** ASPI is constructing its first commercial-scale Mo-100
enrichment plant in Pretoria, South Africa
 (Reporting by Devik Jain in Bengaluru)
 ((Devik.Jain@thomsonreuters.com;))