Astron established Donald Project Pty Ltd, trading as Donald Mineral Sands (DMS), in a joint venture with Energy Fuels Inc. in June 2024. As part of the joint venture agreement, Astron Mineral Sands Pty Ltd (AMS), a wholly owned subsidiary of Astron, manages joint venture activities under a management agreement.
Energy Fuels has the right to earn up to 49% of the joint venture by funding the bulk of Phase 1 project equity. Astron is the joint venture manager and will retain a 51% interest.
The interest-free loan of $8.6 million, provided by Energy Fuels to cover Donald’s development costs from June 4 to September 26, 2024 has been converted into an approximate 3.2 per cent equity in the joint venture.

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