Desk · Development / financing · Processing / separation
ASX:ASM
Australian Strategic Materials
Dubbo (NSW) polymetallic + Korean metals plant. Scheme with Energy Fuels approved August 2026 — this name is becoming a UUUU asset.
Building
Pulse Timeline
Isoelectric line is the baseline Pulse. Spike height is catalyst strength. Wide gaps or a flat line = stalled progress / life support.
- 1) 08-12 Vote
- 2) 09-30 Vote
- 3) 09-30 Listing
Lead II · 25 mm/s · Pulse 10 mm/mV · snapshot 2026-08-22
Building
Cadence is real, not yet a cluster. Next print has to land.
- Last beat
- 10d
- Beats / 90d
- 1
- Recent gap
- —
1 beats in 180d
- — Last material beat 10d ago — ASM shareholders approved EFR scheme.
- — Next: ASM–Energy Fuels scheme implementation (39d).
- — Government / strategic paper is on the tape.
Trading
- Last
- A$1.05
- 1d
- +0.5%
- Mkt cap
- $240M
- Volume
- 1.2M
- 52-week
- A$0.55 – A$1.80
- 1m
- —
- 3m
- —
- 1y
- —
Shares — · snapshot, not a live tape
Company & people
HQ
Sydney / Korea
Focus
Processing / separation · Hard rock
CEO Rowena Smith
- Rowena Smith, MD
Mine / project
Flagship
Dubbo + Korean metals
Location
Dubbo, NSW; Ochang, Korea · Australia / South Korea
Deposit
Toongi trachyte (Zr-Nb-REE-Hf) + metallisation
Resource
Dubbo is a long-life polymetallic. The Korean plant already makes metals — that is what Energy Fuels is buying.
Radioactivity
Moderate — typical monazite / carbonatite
Capital, loans, grants & support
Energy Fuels equity
Scheme implementation in progress (shareholder approval 12 Aug 2026)
- Korean metals customers
The Pulse
Takeout pulse. ASM as a standalone is over; UUUU is the successor tape. Hold it here until the scheme completes, then the desk folds it into Energy Fuels.
Being absorbed by NYSE-listed Energy Fuels. That is the listing path.
Next: 30 Sept 2026 — ASM–Energy Fuels scheme implementation
Nasdaq path
Home listing is not Nasdaq. Bid price, registration, and a real asset gate are.
- 01 · DoneASX listing
Primary listing ASM. Dubbo + Korean metals. Standalone tape is ending.
- 02 · DoneScheme with Energy Fuels12 Aug 2026
Shareholders approved the EFR scheme 12 Aug 2026. That is the listing path.
- 03 · NextUS board via UUUU30 Sept 2026
Energy Fuels is NYSE American. Implementation folds ASM into a US-listed mill-to-metals name.
- 04 · LiveUS holder tape
UUUU holders become the register. Do not build a parallel OTC story now.
- 05 · NextScheme implementation30 Sept 2026
Hold it on this desk until the scheme completes, then the card folds into Energy Fuels.
- 06 · DoneSEC registration
Successor is already a US reporter. ASM does not need its own 20-F.
- 07 · LiveNasdaq $4 bid
Irrelevant for ASM ordinary. UUUU last ~US$15.
- 08 · GapOwn Nasdaq application
Not happening. The path is the takeout. Anything else is leftover letterhead.
Catalysts
- 12 Aug 2026ASM shareholders approved EFR scheme vote
Desk note
Stays on this device. Not the press release.
Pulse = Catalyst proximity + government/strategic support + Nasdaq-path / listing signals + valuation & execution + stage progress. Method