Australian Strategic Materials rises on rare earth metals sale to Neo

Australian Strategic Materials

15/07/2025 02:36

** Shares of Australian Strategic Materials ASM.AX rise as much as 11.7% to A$0.67, their highest level since June 16

** Stock of rare earths developer marks its biggest intraday pct gain since July 11

** Co announces first sale of heavy rare earth metals, consisting of 2 kilograms of terbium metal and dysprosium metal each, to Canada-based Neo Performance Materials' NEO.TO unit

** Says it signed memorandum of understanding (MoU) with Neo to explore broader collaboration across supply of rare earth materials, others

** About 736,300 shares change hands vs 30-day avg of 353,033 shares

** Stock up 24.5% YTD, including the session's moves

 (Reporting by Anjali Singh in Bengaluru)

 ((anjali.singh2@thomsonreuters.com))