AustCham Korea’s Silver Sponsor, Australian Strategic Materials Limited (ASM), has announced that the consortium of South Korean Investors, comprising Cerritos Holdings Co., Ltd, Kamur Partners LLC and ACE Equity Partners LLC, has successfully completed due diligence on the Company’s flagship Dubbo Project.

This represents a key milestone in progressing with the consortium fund’s proposed conditional investment under the Framework Agreement.

After a delay due to COVID-19 travel restrictions, ASM recently hosted an extensive Australian due diligence visit by the Investing Partnership. This included visiting the Company’s Dubbo Project and discussing ASM’s research partnerships and business activities in Australia.

ASM’s Managing Director David Woodall said the completion of due diligence to the satisfaction of the Investing Partnership had taken place in parallel with continued progress on the remaining formal binding terms of the consortium’s investment.

“We are very pleased to have successfully concluded the due diligence process. Together we are now focused on securing a significant South Korean, strategic investor to partner with ASM on its Dubbo Project and to completing the terms for a formal binding agreement.”

“Our relationship with our Korean partners continues to go from strength to strength,” Mr Woodall said.

ASM will continue to update the AustCham Korea community as further milestones are reached.

To find out more about ASM’s success, click Here