Australian Strategic Materials falls on discounted share purchase plan

Australian Strategic Materials

16/06/2025 03:54

** Shares of Australian Strategic Materials ASM.AX fall as much as 16.8% to A$0.59, its biggest intraday pct. drop since April 23

** Critical metals producer announces share purchase plan to raise about A$3 million ($1.95 million), without disclosing per-share value

** New shares will be issued at 20% discount to volume-weighted average market price for fully paid ordinary shares in ASM, calculated over last 5 days - ASM

** Says funds to be used in progressing co's U.S. metallisation expansion plans, others

** About 593,657 shares change hands, over 1.5x of 30-day average volume of ~384,612 shares

** Stock up nearly 13.2% this year, including the session's moves

($1 = 1.5423 Australian dollars)

 (Reporting by Keshav Singh Chundawat in Bengaluru)

 ((Keshav.SinghChundawat@thomsonreuters.com))