Australian Strategic Materials' shares surge on A$55 million funding boost

Australian Strategic Materials

21/10/2025 24:51

** Shares of Australian Strategic Materials ASM.AX rise as much as 22.3% to A$1.70, gaining the most since October 14

** Critical minerals producer says it received firm commitments to raise A$55 million ($35.74 million) at A$1.20 per share under an institutional placement

** Says raised capital with support from significant demand from U.S.-based entities, among other new and existing domestic and international institutional investors

** Says funding will enable Phase 2 ramp-up plan at the Korean Metals Plant, which will double its existing NdFeB alloy capacity to 3,600 tonnes per annum

** Stock last up 14.8%, with value nearly tripled YTD

($1 = 1.5389 Australian dollars)

(Reporting by Shruti Agarwal in Bengaluru)

((Shruti.Agarwal@thomsonreuters.com))