Ann: Quarterly Activities/Appendix 5B Cash Flow Report, page-108

FWIW I emailed ASM after the AGM regarding why my question had been altered. Here is the reply I received:


Thank you for submitting a question at the AGM. As outlined at the start of the meeting, questions would be aggregated and summarised where appropriate.

In relation to your question, “given ASM's share price has been trending downwards for the past year, what was the rationale behind waiting until now to raise capital?” as answered by the Chair (and detailed in the Placement Announcement and SPP Booklet), the Board of ASM decided to raise capital at this time to ensure ASM was in a strong cash position to:

secure KMP feedstock inventory to support metals production, and in turn assist with near term customer acquisition;

accelerate offtake marketing and strategic partner discussions in relation to funding the Dubbo Project;

and commence early works on roads, bridge and rail that are important for site access.

Kind Regards,

Julie Jones
Joint Company Secretary