Australian Strategic Materials jumps as Energy Furls secures approval for takeover

Energy Fuels

23/04/2026 07:01

** Shares of Australian Strategic Materials ASM.AX rise as much as 8.4% to A$1.735, their highest level since March 3

** Stock logs biggest intraday pct gain since April 1

** Critical minerals producer receives approval from Foreign Investment Review Board (FIRB) for acquisition by EFR Critical Minerals Pty Ltd, a unit of Energy Fuels UUUU.A

** In Jan, Energy Fuels said it would acquire ASM in a deal valuing the Australian firm's equity at A$447 mln ($319.47 million)

** ASM up more than 100% YTD

($1 = 1.3992 Australian dollars)

 (Reporting by Aamir Sheik Khalid in Bengaluru)

 ((Aamir.SheikKhalid@thomsonreuters.com))