Australian Strategic Metals is seeking to raise $30 million via a placement of new shares at $1.73 each.Street Talk. BloombergBroker Bell Potter launched the deal on Monday morning.The broker was chasing buyers for 17.34 million new ASM shares at $1.73 each, which was a 12.4 per cent discount to the last close.Funds raised would be used to secure feedstock inventory at the company’s Korean Metals Plant, enables accelerated offtake marketing and strategic partner discussions for its Dubbo Project, and commence works.ASM is an emerging critical minerals producer with a metal plant in South Korea and a project in NSW’s Dubbo that it is trying to turn into a long-life mine.The company had a $282 million market capitalisation prior to the raising.Bell Potter was calling for bids by 4pm Monday, according to terms sent to potential investors.
ASM Price at posting:
$1.98 Sentiment: Buy Disclosure: Held
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