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Australian Strategic Materials (ASM) investor relations material
Australian Strategic Materials H2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
FY25 marked a pivotal year with significant progress in rare earths production, US expansion plans, and government support for the Dubbo Project.
The Korean Metals Plant achieved commercial sales of heavy rare earths and expanded its customer base globally.
The Dubbo Project advanced with a new heap leach development pathway, reducing capital costs and accelerating production timelines.
Strategic partnerships and funding commitments from international export credit agencies exceeded A$1.5 billion.
Sustainability and ESG performance improved, with a top 8% global ranking in the Diversified Metals & Mining subindustry.
Financial highlights
FY25 sales revenue was $3.2 million, up 2% year-over-year; gross profit rose 144% to $1.5 million.
Net loss after tax decreased 2% to $24.6 million compared to FY24.
Cash at year-end was $19.0 million, down from $47.6 million, reflecting increased investment and operating outflows.
Net assets declined 11% to $181.5 million, mainly due to operating expenses and inventory write-downs.
No dividends were declared or paid during the year.
Outlook and guidance
Focus for FY26 includes ramping up the Korean Metals Plant, advancing US expansion, and progressing the Dubbo Project towards final investment decision.
Additional metallurgical testwork, JORC-compliant reserve estimates, and a Pre-Feasibility Study for the Dubbo heap leach option are planned.
Continued engagement with government and industry partners to secure funding and offtake agreements.
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