The company which owns the $1.3 billion Dubbo Project had its first day of trading on the Australian Securities Exchange (ASX) on Thursday.
Australian Strategic Materials (ASM) is a listed ASX company after its demerger from Alkane Resources. Previously, ASM was a wholly-owned subsidiary of Alkane Resources.
The board of Alkane Resources gained the support of shareholders in proceeding with the demerger which will allow it to "focus exclusively on becoming Australia's next multi-mine gold producer".
ASM is seeking to become a "key Australian producer of critical materials" through the shovel-ready but yet-to-be financed Dubbo Project.
The project would draw on a large, in-ground, polymetallic resource of zirconium, hafnium, niobium, tantalum, yttrium and rare earth elements at Toongi, south of Dubbo.
In March the federal government's Export Finance Australia confirmed interest in financing the project.