OREMAVEN
XMM 7,722.00 -2.63% YTD +5.6% OM ASX 450.55 -2.56% YTD +0.1% OM PRECIOUS 349.20 -2.24% YTD +2.5% OM EX-PREC 418.91 -2.72% YTD -1.1% XAU 4,115.59 +2.31% YTD -4.9% GLD 375.49 +0.81% YTD -5.2% GDX 85.75 +1.37% YTD -0.0% SIL 77.33 -1.00% YTD -7.3% COPX 70.23 -5.81% YTD -1.8% URNM 40.07 -2.79% YTD -27.0%
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
—
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

Narrative and provenance

Research & Sources

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Chronological evidenceSource-document inventory22 documents
ASX:ASM closing price on 7 August 2026Market Data · HighExtracted

S&P Global Market Intelligence-sourced delayed ASX price history showing ASM closed at A$1.11 on 7 August 2026.

Document ID
asm-market-20260807
Published UTC
2026-08-07T06:10:00Z
Projects
—
Commodities
—
Open original source ↗
NYSE American:UUUU closing price on 7 August 2026Market Data · HighExtracted

S&P Global Market Intelligence-sourced UUUU price history showing Energy Fuels closed at US$14.14 on 7 August 2026.

Document ID
uuuu-market-20260807
Published UTC
2026-08-07T20:00:00Z
Projects
—
Commodities
—
Open original source ↗
USD to AUD exchange rate on 7 August 2026Market Data · HighExtracted

Historical exchange-rate table showing one US dollar equalled A$1.4152 on 7 August 2026.

Document ID
usdaud-market-20260807
Published UTC
2026-08-07T17:00:00Z
Projects
—
Commodities
—
Open original source ↗
Diggers & Dealers Mining Forum 2026 PresentationPresentation · HighExtracted

Latest operating and transaction presentation, reaffirming KMP capacity plans, Dubbo pathways and the revised scheme timetable.

Document ID
asm-20260804-dd-presentation
Published UTC
2026-08-03T22:19:18Z
Projects
dubbo · kmp · amp
Commodities
rare_earths · others
Open original source ↗
Quarterly Activities Report to 30 June 2026Operations · HighExtracted

Latest quarterly report covering KMP dispatches and expansion, Dubbo PFS pathways, transaction timetable and liquidity.

Document ID
asm-20260730-june-quarter
Published UTC
2026-07-30T04:45:55Z
Projects
dubbo · kmp · amp
Commodities
rare_earths · others
Open original source ↗
Energy Fuels transaction announcementTransaction · HighExtracted

Transaction update describing Energy Fuels' VAC acquisition and financing, the postponed scheme meetings and unchanged ASM Board recommendation.

Document ID
asm-20260624-transaction-update
Published UTC
2026-06-23T22:27:47Z
Projects
—
Commodities
—
Open original source ↗
Quarterly Activities Report to 31 March 2026Operations · HighExtracted

March 2026 quarterly report with 42 tonnes of NdFeB alloy dispatched, KMP expansion and Dubbo MREP concept work.

Document ID
asm-20260430-march-quarter
Published UTC
2026-04-29T22:23:45Z
Projects
dubbo · kmp · amp
Commodities
rare_earths
Open original source ↗
FIRB approval received for Energy Fuels' acquisition of ASMTransaction · HighExtracted

FIRB no-objection confirmation satisfying one transaction condition precedent.

Document ID
asm-20260423-firb
Published UTC
2026-04-23T03:55:49Z
Projects
—
Commodities
—
Open original source ↗
Application for quotation of securities - ASMFinancing · HighExtracted

Final Appendix 2A for the October 2025 placement, providing the post-quotation capital structure.

Document ID
asm-20260319-quotation
Published UTC
2026-03-19T07:41:54Z
Projects
—
Commodities
—
Open original source ↗
Application for quotation of securities - ASMFinancing · MediumExtracted

Appendix 2A for 2,841,667 placement shares issued at A$1.20.

Document ID
asm-20260313-quotation
Published UTC
2026-03-13T05:07:00Z
Projects
—
Commodities
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Update on Energy Fuels' acquisition of ASMTransaction · HighExtracted

Amendment replacing the permitted special dividend with A$0.13 cash consideration from Energy Fuels while retaining the 0.053 scrip ratio.

Document ID
asm-20260313-offer-amendment
Published UTC
2026-03-12T22:24:32Z
Projects
dubbo · kmp · amp
Commodities
rare_earths
Open original source ↗
Half Yearly Report and AccountsResults · HighExtracted

Reviewed half-year accounts to 31 December 2025, with financial position, KMP revenue and inventory disclosures.

Document ID
asm-20260311-half-year
Published UTC
2026-03-10T22:41:04Z
Projects
dubbo · kmp · amp
Commodities
rare_earths · others
Open original source ↗
Application for quotation of securities - ASMFinancing · LowExtracted

Appendix 2A recording exercise of 33 ASMO options and issue of 33 ordinary shares.

Document ID
asm-20260210-quotation
Published UTC
2026-02-10T01:32:00Z
Projects
—
Commodities
—
Quarterly Activities Report to 31 December 2025Operations · MediumExtracted

December 2025 quarterly report covering KMP ramp-up, Dubbo PFS work, AMP planning and liquidity.

Document ID
asm-20260130-december-quarter
Published UTC
2026-01-29T21:33:14Z
Projects
dubbo · kmp · amp
Commodities
rare_earths
Open original source ↗
Energy Fuels to acquire Australian Strategic MaterialsTransaction · HighExtracted

Binding scheme implementation deed for Energy Fuels to acquire ASM, including scrip consideration and a concurrent option scheme.

Document ID
asm-20260121-energy-fuels-offer
Published UTC
2026-01-20T21:58:27Z
Projects
dubbo · kmp · amp
Commodities
rare_earths
Open original source ↗
Investor Presentation - Energy Fuels to acquire ASMPresentation · HighExtracted

Transaction presentation describing the strategic rationale and mine-to-magnet combination.

Document ID
asm-20260121-offer-presentation
Published UTC
2026-01-20T21:58:42Z
Projects
dubbo · kmp · amp
Commodities
rare_earths
Open original source ↗
Investor Webcast Registration - Energy Fuels to acquire ASMOther · LowExtracted

Registration notice for the transaction investor webcast.

Document ID
asm-20260121-webcast
Published UTC
2026-01-20T22:06:47Z
Projects
—
Commodities
—
Open original source ↗
MD & CEO Annual General Meeting 2025 PresentationPresentation · MediumExtracted

AGM strategy presentation covering mine-to-metals positioning and growth initiatives.

Document ID
asm-20251126-agm-presentation
Published UTC
2025-11-25T19:01:16Z
Projects
dubbo · kmp · amp
Commodities
rare_earths
Quarterly Activities Report to 30 September 2025Operations · MediumExtracted

September 2025 quarterly report recording KMP production, first commercial Tb/Dy sale and capital raises.

Document ID
asm-20251027-september-quarter
Published UTC
2025-10-26T21:27:18Z
Projects
dubbo · kmp
Commodities
rare_earths
Open original source ↗
Annual Report to shareholdersResults · HighExtracted

FY2025 annual report providing audited financial, project, plant, tenure, risk and governance information.

Document ID
asm-20250923-annual-report
Published UTC
2025-09-22T23:26:43Z
Projects
dubbo · kmp · amp
Commodities
rare_earths · others
Open original source ↗
Quarterly Activities Report to 30 June 2025Operations · MediumExtracted

June 2025 quarterly report covering KMP orders, heavy-rare-earth capability, Dubbo heap-leach progress and A$19.0 million quarter-end cash.

Document ID
asm-20250723-june-quarter
Published UTC
2025-07-23T00:55:33Z
Projects
dubbo · kmp
Commodities
rare_earths
Heap Leach Option delivers major cost reductions for Dubbo ProjectStudy · HighExtracted

Heap-leach scoping study for a rare-earth-focused first phase at Dubbo, with Class 5 cost accuracy and explicit funding and commodity-price caveats.

Document ID
asm-20250711-heap-leach-study
Published UTC
2025-07-11T01:55:50Z
Projects
dubbo
Commodities
rare_earths · others
Open original source ↗
Evidence facts39
dubbo-measured-resourceMeasured Mineral Resource

42.81 Mt

2017-12-31
dubbo-inferred-resourceInferred Mineral Resource

32.37 Mt

2017-12-31
dubbo-resource-gradeMeasured TREO grade

7400 ppm TREO

2017-12-31
dubbo-mine-lifeHeap Leach Option mine life

42 years

2025-07-11
dubbo-initial-capexHeap Leach Option initial capital cost

740000000 AUD

2025-07-11
dubbo-posttax-npv-baseHeap Leach Option post-tax NPV8 base pricing

570000000 AUD

2025-07-11
dubbo-posttax-npv-upsideHeap Leach Option post-tax NPV8 Adamas pricing

921000000 AUD

2025-07-11
dubbo-ndpr-price-baseBase case NdPr oxide price

130 USD/kg

2025-04-30
dubbo-dy-price-baseBase case Dy oxide price

410 USD/kg

2025-04-30
dubbo-tb-price-baseBase case Tb oxide price

1410 USD/kg

2025-04-30
dubbo-npv-discount-rateStudy real post-tax discount rate

8 %

2025-07-11
offer-scrip-ratioEnergy Fuels shares or CDIs per ASM share

0.053 EFR share or CDI per ASM share

2026-01-21
offer-option-cashCash consideration per ASMO option

0.5 AUD/option

2026-01-21
cap-shares-20260121Ordinary shares on issue

268054684 shares

2026-01-21
cap-rights-20260121Target equity incentives

7751116 performance rights

2026-01-21
cap-options-20260121Quoted ASMO options

14340706 options

2026-01-21
hy-sales-revenueHalf-year sales revenue

5965000 AUD

2025-12-31
hy-korea-revenueKorea metal and alloy sales

5854000 AUD

2025-12-31
hy-korea-inventoryKorea materials inventory carrying value

8034000 AUD

2025-12-31
hy-cashCash and cash equivalents

69671000 AUD

2025-12-31
offer-cash-per-shareCash consideration per ASM share

0.13 AUD/share

2026-03-13
cap-ordinary-20260319Ordinary shares on issue after quotation

271730693 shares

2026-03-19
cap-options-20260319Quoted ASMO options on issue

14339698 options

2026-03-19
cap-rights-20260319Unquoted performance rights

7751116 performance rights

2026-03-19
kmp-dispatch-q2-2026KMP NdFeB alloy and NdPr metal dispatched

45 tonnes

2026-06-30
kmp-ndfeb-dispatch-q2-2026KMP NdFeB alloy dispatched

36 tonnes

2026-06-30
kmp-ndpr-dispatch-q2-2026KMP NdPr and Nd metal dispatched

9 tonnes

2026-06-30
kmp-phase2-capacityKMP Phase 2 NdFeB alloy nameplate capacity

3600 tpa

2026-06-30
dubbo-mrep-capex-reductionPreliminary potential MREP capital reduction

200000000 AUD

2026-06-30
cash-20260630Cash and cash equivalents

57602000 AUD

2026-06-30
debt-20260630Hana Bank facility drawn

2821000 AUD

2026-06-30
runway-20260630Estimated quarters of funding

7.3 quarters

2026-06-30
scheme-meeting-dateRescheduled Scheme Meetings

2026-08-12 None

2026-07-28
scheme-implementation-targetTarget implementation date

2026-08-28 None

2026-07-30
kmp-invested-capexKMP capital invested to date

60000000 USD approximately

2026-08-04
asm-close-20260807ASM ordinary share closing price

1.11 AUD/share

2026-08-07
asm-volume-20260807ASM daily traded volume

238051 shares

2026-08-07
uuuu-close-20260807Energy Fuels UUUU closing price

14.14 USD/share

2026-08-07
usdaud-20260807USD to AUD exchange rate

1.4152 AUD per USD

2026-08-07