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Astron Targeting AU$220 Million Financing Package for Victoria Rare Earths Project; Shares Down 3%

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Astron (ASX:ATR) is targeting a AU$220 million lending package to support the phase 1 development of its Donald rare earths and mineral sands project in Victoria, according to a Monday filing with the Australian bourse.

The company is in talks with Export Finance Australia, other government financing agencies, and commercial lenders for a senior debt facility to support the project, which is a joint venture between Astron and US-based Energy Fuels.

A final investment decision for the project is now planned for the third quarter of this year, Astron said.

The company's shares fell nearly 3% in recent Monday trade.

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