OREMAVEN
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2026-11-06
◂ Monitor AEM ASX

Advanced Engineered Materials Limited

Ramping Producer · Others · Canada Rating locked: sign in to view v8.1 · aem-20261030t224407-full
Last 2026-11-06
A$0.315
1D
—
1M
—
YTD
—
1Y
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Upside
Locked: sign in to view
Mkt cap
A$185.7M
EV
A$181.7M
Cash
A$23.7M
Debt
A$12.3M

Portfolio detail

Assets

1 assets

Core asset

Cap-Chat High-Purity Alumina Plant

Canada

Ramping Producer100% ownedOthers

Cap-Chat has 2,000 tpa of upstream nameplate capacity; management says final tailoring capacity is lower and requires more equipment. The 3N5+ circuit is targeted for 2026, with full run rate in 2028; Stage 2 remains subject to study, permits, final investment decision and financing.

Processing plant / refinery · Operating
Product and spec
Up to 5N purity and ultra-low alpha HPA
Nameplate capacity
2,000 tpa
Throughput (12M)
—
Utilisation
—
Capital intensity (capex / tpa)
NM
Feed source
—
Offtake contracted
—

Project location

Approximate location

Loading location…

© OpenStreetMap contributors. Basemap imagery © Esri (Maxar, Earthstar Geographics). Dated overlays contain modified Copernicus Sentinel data. Visible surface changes do not establish production or completion.

Published study economicsIssuer or study metrics
Initial capexUS$215MPublished capital estimate
Operating cost5.5USD/kg

Stage 2 PFS at Q4 2024 prices; 3,000 tpa incremental steady-state production from 2032 with EBITDA of US$47.1 million at current CM Group pricing or US$85.2 million at long-term pricing.

Milestones6
  1. Commission 2,000 tpa commercial-scale 4N+ HPA capacity

    Achieved · High materiality

  2. Install and commission dedicated 3N5 circuit to reach 3,000 tpa

    Pending · High materiality

  3. Complete Stage 2 definitive feasibility study; Q3 target has elapsed without a result identified

    Pending · High materiality

  4. Commence Stage 2 production toward 6,000 tpa total capacity

    Pending · High materiality

  5. 4N+ circuit at design production run rate

    Pending · High materiality

  6. 3N5+ circuit at design production run rate

    Pending · High materiality

Permits & approvals1
PermitJurisdictionStatusExpiryCritical path
Quebec airborne and waterborne emissions production-rate permitQuebec, CanadaPending—Yes
Economic studies1
StudyStageStatusDateSummary
Cap-Chat Stage 2 Expansion Pre-Feasibility StudyPFSCurrent2025-06-30PFS scope adds roughly 3,000 tpa for US$215 million initial capex; WSP independently reviewed engineering and BDO verified the financial model. A revised DFS was targeted for Q3 2026.

d derivedr our researchg guidances study forecastm daily marketNo marker: as reported— / NM missing or not meaningful (hover for why)

Stock database

Other assets

Plants, holdings and assets valued inside a project
Cape York Kaolin convertible loan · Equity investment · Held
Investee
NM
Holding
NM
Shares held
NM
Market value
NM
% of holder's market cap
NM
Cost basis
NM
Cape York kaolin production royalty · Royalty / stream · Pre production
Royalty type
—
Rate
—
Underlying asset and operator
—
Operator's stage
—
Attrib. royalty units per year
—
Royalty receipts (12M)
—
Our attributable value
Locked