Australian Strategic Materials eyes best week in 14 months on US funding for project

Australian Strategic Materials

21/03/2024 23:45

** Shares of Australian Strategic Materials  ASM.AX  have
risen 35.8% so far this week - set for best weekly gain since
Jan. 27, 2023, if trend holds
    ** ASM said on Thursday that it had received a letter of
interest (LoI) for a debt funding package of up to $600 mln from
the U.S. Export-Import Bank
    ** Says funding to support construction of its Dubbo rare
earths project northwest of Sydney
    ** Stock currently down 3.1% to A$1.39
    ** Stock up 13% YTD, as of last close

 (Reporting by Ayushman Ojha in Bengaluru)
 ((Ayushman.ojha@thomsonreuters.com;))