Hastings Technology Metals Ltd: Half Yearly Report
Sydney, Australia - Your directors submit the interim financial report of the consolidated entity consisting of Hastings Technology Metals Ltd. (ASX:HAS) (the "Company") and the entities it controlled during the period (the "Group") for the half year ended 31 December 2018.The following summary of events were significant milestones in the state of affairs of the Group during the year:
- Signing of an Off-Take Contract for the supply of mixed rare earths carbonate with Sky Rock Rare Earth New Materials Co Ltd;
- Increase in Yangibana JORC 2012 resources to 21 million tonnes;
- Signing of the Design and Supply Contract for the Acid Bake Kiln with FLSmidth Pty Ltd;
- EPA releases environmental review for public consultation
- Raising $13.97 million (before costs) through the issue of 66,563,008 shares at 21 cents each;
- Major aeromagnetic target identified at Yangibana; and
- Signing of a Project Finance Mandate with KfW IPEX-Bank.
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http://abnnewswire.net/lnk/E87DWS7O
About Hastings Technology Metals Ltd:
Hastings Technology Metals Ltd. (ASX:HAS) is a leading Australian rare earths company, with two rare earths projects hosting JORC-compliant resources in Western Australia.
- The Yangibana Project hosts Probable Reserves totaling 5.15 million tonnes at 1.12% TREO including 0.45% Nd2O3+Pr6O11 within JORC Resources totalling 21.0 million tonnes at 1.17% TREO (comprising Measured Resources of 3.9 million tonnes at 1.19% TREO, Indicated Resources of 8.6 million tonnes at 1.25% TREO and Inferred Resources of 8.4 million tonnes at 1.09% TREO), including 0.40% Nd2O3+Pr6O11.
- The Brockman deposit contains JORC Indicated and Inferred Resources totalling 41.4 million tonnes (comprising 32.3mt Indicated Resources and 9.1mt Inferred Resources) at 0.21% TREO, including 0.18% HREO, plus 0.36% Nb2O5 and 0.90% ZrO2.
- Rare earths are critical to a wide variety of current and new technologies, including smart phones, electric vehicles, wind turbines and energy efficient light bulbs.
- The Company aims to capitalise on the strong demand for rare earths permanent magnets created by expanding new technologies.
Source:
Hastings Technology Metals Ltd.
Contact:
Andrew Reid Chief Operating Officer T: +61-8-6117-6118 Andy Border General Manager Exploration T: +61-2-9078-7674