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The vulnerability of global rare earth supply chains has just moved from theoretical to tangible with China's new export restrictions. This couldn't make Australian Strategic Materials' strategy more relevant – or more urgent.

When Rowena Smith, CEO and Managing Director of ASM, explains their mine-to-metal capability, what stands out is how few companies globally can do what they do. As the only ASX-listed company with established metallisation capability outside China, ASM offers something increasingly precious: supply chain security for critical minerals essential to clean energy, defence, and emerging technologies.

The company's Korean metals plant is already shipping products to customers, with validation processes completed for multiple magnet producers across several jurisdictions. What's particularly exciting is their breakthrough in heavy rare earth metallisation – they're on the verge of commercial dysprosium production, with terbium to follow. Smith notes that only two other companies outside China have similar capabilities, positioning ASM at the forefront of this critical technology.

ASM's two-pronged strategy combines the shovel-ready Dubbo project in NSW with global metals plants. Their expansion plans include replicating their Korean facility in the US, with strong interest from the Department of Defense seeking domestic manufacturing capability through allied nations. The company is also exploring a phased approach to the Dubbo project, potentially targeting the rare earths portion first to reduce initial capital requirements below $1 billion.

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Gold is commanding over $5,000 per ounce in the Australian market, and Astral Resources is poised to capitalize on this opportunity with their growing portfolio of gold assets in Western Australia's renowned Kalgoorlie region. Managing Director Marc Ducler pulls back the curtain on how this emerging producer is methodically advancing toward development with a remarkable discovery cost of just $20 per ounce.

The conversation centers on Astral's flagship Mandilla Gold Project, which already boasts a 1.43 million ounce resource that could support up to 20 years of processing. With the Pre-Feasibility Study nearing completion and scheduled for release before the end of June, Marc reveals they've already secured the essential technical inputs needed to generate "very, very good financials." The company isn't stopping there – they're immediately transitioning to a Definitive Feasibility Study targeting completion in mid-2025, maintaining momentum toward a production decision.

What sets Astral apart is their strategic approach to resource growth and project optimization. Rather than simply accumulating ounces, their recent acquisition of Maximus Resources provides both the physical space needed for infrastructure and additional exploration upside at the Spargoville project. Meanwhile, drilling at both Spargoville and Feysville specifically targets higher-grade material that could displace lower-grade Mandilla ore, potentially boosting the project's net present value significantly. With $22 million in the bank and additional funding possible from in-the-money options, Astral is fully funded to execute this strategy while maintaining continuous exploration across their expanded land package.

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Discover the untapped potential of Australia's forgotten gold districts as Cosmo Metals makes a strategic leap into New South Wales. Managing Director Ian Prentice reveals how the company's acquisition of the Bingara and Nundle projects could transform their prospects in the precious and base metals space.

The conversation takes us deep into the geological significance of these newly acquired assets, situated within the New England Orogen – a vast mineral province that has historically yielded 35 million ounces of gold but remains surprisingly underexplored. What makes this opportunity particularly compelling is the scale: with nearly 500 square kilometres at Bingara and 260 square kilometres at Nundle, these truly represent district-scale exploration plays that haven't seen modern exploration techniques applied in over three decades.

Ian's excitement is palpable as he describes the commodity mix of gold, copper, and antimony across these projects, highlighting historical drill results like six metres at six grams per tonne gold from surface that have never been properly followed up. The comparison to world-class deposits like Mount Morgan (multi-million ounces gold plus 360,000 tonnes copper) demonstrates the scale of targets Cosmo is pursuing. Through cutting-edge exploration techniques including LiDAR and Sub-Audio Magnetics surveys, the company is rapidly building a modern understanding of these forgotten mineral districts.