Quarterly Activities Report
Sydney, Jan 29, 2018 AEST (ABN Newswire) - Hastings Technology Metals Ltd (
ASX:HAS) provides the Company's Quarterly Activities Report.
- Definitive Feasibility Study completed for the Yangibana Rare Earths Project
- Initial operating life of 8 years provides NPV of $466m, IRR of 78% and a payback period of 2.3 years
- First Probable Reserves estimated at 5.16mt at 1.12% TREO including 0.45% Nd2O3+Pr6O11
- Latest JORC Resources total 21.00mt at 1.17% TREO including 0.40% Nd2O3+Pr6O11
- Plan to produce up to 15,000 tons per annum of Mixed Rare Earths Carbonate on site at Yangibana
- Pre-production capital expenditure of A$335 million and operating costs of A$17.06/kg TREO (US$12.8/kg)
- Native Title Agreement signed for the entire tenement area of 650sqkm covering all rare earths minerals mined and sold
To view the full report, please visit:
http://abnnewswire.net/lnk/HM356YIG
About Hastings Technology Metals Ltd
Hastings Technology Metals Ltd (ASX:HAS) (FRA:5AM) is advancing its Yangibana Rare Earths Project in the Upper Gascoyne Region of Western Australia towards production. The proposed beneficiation and hydro metallurgy processing plant will treat rare earths deposits, predominantly monazite, hosting high neodymium and praseodymium contents to produce a mixed rare earths carbonate that will be further refined into individual rare earth oxides at processing plants overseas.
Neodymium and praseodymium are vital components in the manufacture of permanent magnets which is used in a wide and expanding range of advanced and high-tech products including electric vehicles, wind turbines, robotics, medical applications and others. Hastings aims to become the next significant producer of neodymium and praseodymium outside of China.
Hastings holds 100% interest in the most significant deposits within the overall project, and 70% interest in additional deposits that will be developed at a later date, all held under Mining Leases. Numerous prospects have been identified warranting detailed exploration to further extend the life of the project.
Brockman Project
The Brockman deposit, near Halls Creek in Western Australia, contains JORC Indicated and Inferred Mineral Resources, estimated using the guidelines of JORC Code (2012 Edition).
The Company is also progressing a Mining Lease application over the Brockman Rare Earths and Rare Metals Project.
Hastings aims to capitalise on the strong demand for critical rare earths created by the expanding demand for new technology products.
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