Astron Corporation Limited (ASX:ATR) completes joint venture transaction with Energy Fuels for Donald Project

Astron Corporation Limited (ASX:ATR) has successfully completed the transaction with Energy Fuels Inc. to establish a joint venture over the Donald Rare Earths and Mineral Sands Project. As per the terms of the Joint Venture Agreement, Astron has been issued shares in Energy Fuels with a current market value of US$3.5 million. Additionally, Energy Fuels will progressively increase its stake in the Venture to 49% as it funds A$183 million towards the execution and construction of the first phase of the Donald Project.

Executive Commentary on Joint Venture Transaction Completion

The completion of the joint venture transaction with Energy Fuels marks a significant milestone for Astron Corporation. This partnership will play a crucial role in advancing the Donald Rare Earths and Mineral Sands Project, bringing it closer to a positive final investment decision. We are pleased with the progress made in the development activities for the project, and we remain focused on achieving a positive final investment decision in early 2025.

Summary of Joint Venture Transaction and Project Outlook

Astron Corporation Limited (ASX:ATR) has successfully completed a joint venture transaction with Energy Fuels Inc. for the Donald Rare Earths and Mineral Sands Project. The completion of this transaction represents a significant step in bringing the globally significant, Tier-1 Donald resource into production by late 2026. The company is focused on advancing the project towards a positive final investment decision, which is likely to occur in early 2025. Despite the trend in project capital expenditure estimate, the company remains committed to optimizing and refining the capital expenditure. The completion of this transaction sets the stage for the establishment of another western-rare earth mine to oxides value chain, positioning Astron for future growth and development.