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Astron Corporation Limited (ASX:ATR)

ALERT: Price-sensitive ASX Announcement for ATR
Current share price for ATR : $0.560 0.01 (1.82%)+
Announcement
Release
9 Jun 2026 9:31AM
Price at Release
$0.550
Full Release
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Summary
Astron Corporation Limited announced a revision to the Phase 2 economic study for the Donald Rare Earths and Mineral Sands Project, located in Victoria, Australia. This update includes an Ore Reserve estimate for the RL2002 site, highlighting a reserve of 435 million tonnes at a 4.7% heavy mineral grade. The project, developed in joint venture with Energy Fuels Inc., aims to produce significant quantities of rare earth elements and mineral sands, with a mine life extended to 52 years and a projected pre-tax NPV8 of $2.3 billion at an IRR of 25.6%. Phase 2 involves duplicating the Phase 1 mining operations, with a targeted construction start in Q1 2031 and commercial production by Q3 2032. The Ore Reserve update reflects changes due to exclusion zones and a new revenue factor in pit optimization, reinforcing the project's economic potential.
Key Points
  • Phase 2 RES indicates a pre-tax NPV8 of $1.5 billion.
  • Combined NPV8 of $2.3 billion for Phases 1 and 2.
  • Phase 2 involves a duplication of Phase 1 operations on RL2002.
  • Incremental capital cost for Phase 2 is estimated at $557 million.
  • Construction of Phase 2 expected to start in Q1 2031.
  • Phase 2 production to average 14.4Ktpa of REE Concentrate and 376Ktpa of Heavy Mineral Concentrate.
  • Ore Reserve estimate for RL2002 indicates 435Mt at 4.7% heavy mineral grade.
  • Project aims to become a significant producer of zirconium, titanium, and rare earth elements.
  • Astron's joint venture partner is Energy Fuels Inc., a U.S.-based company.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.