ASTRON CORPORATION LIMITED - ASX Briefs

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ASTRON CORPORATION LIMITED (ASX: ATR)

ATR: $7 million Placement to a Sophisticated Investor

ASTRON CORPORATION LIMITED

Astron Corporation Limited receives a $7 million placement commitment from private investor Mr. Tan Ruiqing.
Funds will be used for engineering, design, negotiating offtake agreements, and operational readiness plans, among others.
12,962,963 new CDIs will be issued to raise $7 million before costs, ranking equally with Astron's existing CDIs.

2023-05-19 09:56:00

ATR: Donald Rare Earth and Mineral Sands Project Phase 1 DFS

ASTRON CORPORATION LIMITED

Definitive Feasibility Study supports a financially robust Phase 1 project with an after-tax NPV of $852 million and 41.5-year mine life.
Phase 1 execution capital expenditure of $364 million, average annual revenue of $314 million, and an IRR of 25.8%.
Final Investment Decision planned for Q1 2024, with first production in H2 2025 and Phase 2 scoping study completed including further processing of HMC into final products.

2023-04-26 08:45:00

ATR: Renewal of Niafarang Mineral Sands Project Mining Licence

ASTRON CORPORATION LIMITED

Astron Corporation has received a 5-year renewal of its Mining Licence for the Niafarang Mineral Sands Project located in Senegal, West Africa.
The renewal is effective from 29 May 2022 and covers an area of 184 hectares within a larger 397 square kilometres exploration licence zone.
No specific time frame for the development of the Niafarang Project has been determined yet.

2023-04-14 09:29:00

ATR: Donald Project MIN5532 Ore Reserves Update

ASTRON CORPORATION LIMITED

A new Ore Reserve of 309Mt @ 4.4% total heavy minerals (HM) has been estimated for the Phase 1 development of the Donald Rare Earth and Mineral Sands Project.
Heavy mineral content increased 32%, contained zircon increased 15%, and rare earth minerals increased by 71% compared to the previous Ore Reserve for MIN5532.
Based on proposed Phase 1 annual mine production, MIN5532 has sufficient Ore Reserves to sustain operations for over 43 years.

2023-03-31 09:14:00