OREMAVEN
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2026-11-06
◂ Monitor ASM ASX

Australian Strategic Materials Limited

PFS Developer · Rare Earths · Australia · South Korea · United States Rating locked: sign in to view v6
Last 2026-09-02
A$1.17
1D
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1M
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YTD
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1Y
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Upside
Locked: sign in to view
Mkt cap
A$317.9M
EV
A$263.1M
Cash
A$57.6M
Debt
A$2.8M
3 newer ASX announcements not yet reflected in this valuation

Funding, performance and ownership

Financials & Capital

As of 2026-06-30
Cash A$57.6M Finite
Debt A$2.8M Net cash A$54.8M
Basic shares 271.7M 2026-03-19
Runway 7.3 quarters Appendix 5B cash divided by June-quarter operating and exploration outflows.

Liquidity

Financial position

A$57.6 million cash and 7.3 reported quarters of funding cover near-term operations, but standalone development of Dubbo remains far beyond current liquidity.

Inventory composition2

The latest detailed balance-sheet inventory disclosure is 31 December 2025; A$5.364 million of Korean materials was recorded at net realisable value.

Korean materials inventory on hand at carrying value
A$8M carrying
Toongi Pastoral Company supplies on hand
A$328K carrying

Capital structure

Ownership and dilution

Ordinary shares
271.7M
Fully diluted
279.5M

The 19 March 2026 Appendix 2A reports 271,730,693 ordinary shares, 14,339,698 quoted options and 7,751,116 performance rights. Fully diluted shares include the rights but exclude the out-of-the-money options, which the concurrent option scheme would acquire for cash rather than convert.

Security classes3
ClassTypeQuantityStrikeExpiry
Quoted fully paid ordinary sharesOrdinary Share271.7M——
Quoted ASMO options exercisable at A$1.74Option14.3MA$1.742027-10-31
Unquoted performance rights, included in the fully diluted share basisPerformance Right7.8MA$0—

KPI history

Operating metrics · Korean Metals Plant

Sales shown
012243547September quarter 2025: 14 tonnes NdFeB alloy dispatchedSeptember quarter 2025December quarter 2025: 24 tonnes NdFeB alloy dispatchedDecember quarter 2025March quarter 2026: 42 tonnes NdFeB alloy dispatchedMarch quarter 2026June quarter 2026: 36 tonnes NdFeB alloy dispatchedJune quarter 2026
MetricUnitTrendSeptember quarter 2025December quarter 2025March quarter 2026June quarter 2026
Salestonnes NdFeB alloy dispatchedSeptember quarter 2025: 13.90 tonnes NdFeB alloy dispatchedDecember quarter 2025: 24.30 tonnes NdFeB alloy dispatchedMarch quarter 2026: 42.00 tonnes NdFeB alloy dispatchedJune quarter 2026: 36.00 tonnes NdFeB alloy dispatched13.924.342.036.0
Operating metric source table6
MetricProjectPeriodPeriod typeValueStatus
SalesKmpSeptember quarter 2025Quarter13.9 tonnes NdFeB alloy dispatchedReported
SalesKmpDecember quarter 2025Quarter24.3 tonnes NdFeB alloy dispatchedReported
SalesKmpMarch quarter 2026Quarter42 tonnes NdFeB alloy dispatchedReported
SalesKmpJune quarter 2026Quarter36 tonnes NdFeB alloy dispatchedReported
SalesKmpJune quarter 2026Quarter9 tonnes NdPr and Nd metal dispatchedReported
RevenueCompanyHalf-year ended 31 December 2025Half Year5,965,000 AUDReported
Company guidance2
MetricProjectPeriodLowHighStatus
Ndfeb Alloy Nameplate Production CapacitykmpPhase 2 expansion3,6003,600 tpaCurrent
Heap Leach Option PFS Completiondubbosecond half of 2026—— milestoneCurrent

Capital history

Capital events

1 events · newest first
DateEventAmountSharesPriceStatusTerms
2026-03-19Ann. 2025-10-20RaisingA$55.2M46M—Completed—