Worth re-reading the Quarterly , which really underpins why the...

Worth re-reading the Quarterly , which really underpins why the share price is "forward looking "at what might unfold in the next three to six months .
For instance :
Dubbo Project customer samples
During the Quarter, the ZrO2 (calcined ZBS) samples were prepared for distribution to potential offtake
customers. These samples will be sent during the next Quarter and discussion with customers will be held to
assess sample analyses. Dehafinated Zirconia (DHZ) samples preparation has commenced and is expected to
be completed in the next Quarter.
Terbium/Dysprosium solvent extraction pilot program
During the Quarter, ASM worked with ANSTO to set up and operate Ca mpaign 1 of the terbium/dysprosium
(Tb/Dy) process flowsheet pilot program (Circuit 4). The purpose of Campaign 1 is to confirm the adjusted
flowsheet required for separation of Tb from Dy to produce high quality (>99.9%) products. This pilot plant
ran for two weeks.
The preliminary results from the pilot plant indicated that Dy has been produced to 99.95% quality, with the
second Campaign (scheduled for August) to complete the Tb extraction from the remaining Dy. The pilot
program is expected to conclude by the end of 2023 and is supported by funds awarded under Stream 1 of
the NSW government’s Critical Minerals and High-Tech Metals Activation Fund.2

Interesting and relevant :
ASM received $500k under Stream1 of the NSW Govt High Tech Metals Activation Fund 2 .
Steam 2 is now open , according to the Website , closing on the 31st October and Awards available , upped considerably to between $2 mill and $10 mill !
https://www.energyinnovation.net.au/article/applications-now-open-for-critical-minerals-and-high-tech-metals-activation-fund-stream-2

Whilst its Offtakes ASM is after ---such good progress being made on the DHZ and Tb/ Dy separation and high purity processes alone , would support a further ASM Application and ultimate grant . Assuming that is being made ...and a grant received ...is a further endorsement to Overseas Entities where discussions are being held , that ASM is on an accelerated development path .
Reasonable to assume ASM is pursueing this action , I would have thought !