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Australian Strategic Materials Ltd ( (AU:ASM) ) has shared an announcement.
Australian Strategic Materials Ltd has successfully raised A$55 million through a placement to institutional and sophisticated investors, issuing over 42 million new shares. This capital will be used to enhance alloy production and drive metallisation growth, with further shareholder approvals sought for additional share issues to key stakeholders, including the company’s chair and major shareholders.
The most recent analyst rating on (AU:ASM) stock is a Hold with a A$1.00 price target. To see the full list of analyst forecasts on Australian Strategic Materials Ltd stock, see the AU:ASM Stock Forecast page.
More about Australian Strategic Materials Ltd
Australian Strategic Materials Ltd operates in the materials industry, focusing on the production and development of strategic materials, including alloys and metallisation products. The company targets institutional and sophisticated investors to support its growth initiatives in alloy output and metallisation.
Average Trading Volume: 1,533,364
Technical Sentiment Signal: Buy
Current Market Cap: A$237M
Learn more about ASM stock on TipRanks’ Stock Analysis page.