Along the same line of thinking , I raised this yesterday ..as regards ASM and KOMIR Merorandum of Understanding announced by the previous MD on the 14th DEC 2021 .
Extract below :
The key areas contemplated for cooperation under the Joint Statement of Cooperation include:
• Importation of rare-earth products into Korea, including for strategic stockpiling.
• Supplying ASM with rare-earth products to enable Korean domestic production of rare-earth
magnet feed metal at ASM’s Korean Metals Plant.
KOMIR is the Korean Government Agency responsible for national resource security, including developing
overseas mining and processing capacity to supply the Korean market. One of KOMIR’s strategic objectives is
to upgrade the country's access to critical minerals.Now I can only assume , that KOMIR has had a big part in this current CR , insofar it has indicated it requires ASM to finance upfront , the funds for KOMIR to source and buy the necessary quantum of feedstock for the KMP ...and I have little doubt that KOMIR will be a key player in either being the direct buyer , or the introducer of Third Parties to buy the magnet metals and likely the Titaniun metals when produced !
It is further interesting to note , that KOMIR subsequent to the ASM Announcement , signed an MOU with the Minerals Council of Australia on the 25th Feb 2022 , to
strengthen cooperation on exploration and development of mining resources in Australia, particularly critical mineralshttps://www.globalminingreview.com/finance-business/25022022/minerals-council-of-australia-signs-mou-with-komir/
If you go by the recent Quarterly , ASM seem to be "circling around" bringing some of these "discussions"to BINDING REVENUE MAKING AGREEMENTS ?????? maybe , on the positive side , this CR is a major step to ensuring this happens .
After all ..you can't make the KMP function without the necessary feedstock ....and an aspect that former MD Woodall might have locked in BEFORE all these grand plans for expansion were floated . Dubbo/ Toongi plays an integral part ..but it was always optimistically three plus years away , unless the Government Agencies fast tracked the funding .
NOW ..USA/ KOREA/JAPAN/UK /GERMANY /AUSTRALIA ..are all seeing the urgency for independant supply of critical metals , rare earths beiong one of them .ASM should be leading the pack , rather than being the wagon at the back of the horses.
Perhaps this is a "circuit breaker"to the gloom that the lack of definitive news has brought to ASM for nearly 12 months .
AIMHO
(20min delay)