Australian Strategic Materials (ASX:ASM) has announced a series of company milestones in its recent quarterly activities report, including its first sales agreement for NdPr metal.

The agreement with NS World, a Koren magnet maker, is for 10 tonnes of the resource, all if which will be delivered in the current quarter.

ASM also announced the appointment of Rowena Smith as CEO, as well as signed an MOU with the Korean Development Bank and the Chungchongbuk-do to establish a rare earths global supply chain.

The company?s cash position at the end of the quarter was $38.6M, and its share price is currently up 17% to $2.43.