Energy Fuels offered $450M for Australian Strategic Materials, boosting its share price 164%.

Australian Strategic Materials surged 164% to 188.5 cents after Energy Fuels Inc. offered $450 million for the company, valuing shares at $1.90 and including a 13-cent unfranked dividend. The deal supports Western supply chains for rare earths and critical minerals under the U.S.–Australia Framework. ASM’s Dubbo project holds major reserves of heavy rare earths, zirconium, niobium, and hafnium, with approvals secured and low-cost development planned. Osteopore Ltd rose 150% to 3 cents after winning a Hong Kong distribution deal to expand its bone regeneration technology in Asia-Pacific. The ASX saw strength in critical minerals and hard assets amid rising geopolitical tensions and gold nearing $5,000 an ounce.