Ann: Dubbo Project Finance Update, page-2

Dubbo Project Finance Update
Australian Strategic Materials Limited (ASX: ASM, the ‘Company’) provides a progress update on the
Dubbo Project Financing.
Technical due diligence of the Dubbo Project occurring under the Framework Agreement with the
Investing Partnership of Korean private equity firms (ASX Announcement: 21 July 2021), has
advanced with significant effort made by both parties. However, due to Covid19 travel restrictions
between Australia and Korea and on travel within Australia, and the extensive scope of the technical
due diligence, the due diligence has not been completed by Q3 2021 as initially anticipated and is
continuing to be progressed.
Separately, to facilitate the financing of the Dubbo Project, ASM has appointed Australian and New
Zealand Banking Group Limited (ANZ) as debt financial advisor. ASM made this appointment based
on ANZ’s experience and strong relationships in both Australia and Korea, including with Australian
and Korean export finance agencies. The ANZ appointment is both necessary and timely as ASM is
engaging with those agencies as part of the financing of the Dubbo Project.
ASM Managing Director David Woodall said:
“The Framework Agreement is one part of the financing of the Dubbo Project, ANZ’s appointment
facilitates further engagement with debt providers that include Australian and Korean export finance
agencies. We continue to progress the financing of the Dubbo Project, the development of which
will provide an alternate, sustainable, secure, and stable supply of high purity and clean critical
metals directly into the Korean manufacturing sector.”
“We look forward to updating the market as we continue to progress the transaction.”
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