Hastings Technology Metals Ltd Stock Market Press Releases and Company Profile

View in Other Languages Hastings Technology Metals Ltd (ASX:HAS) 筹资进展更新 Hastings Technology Metals Ltd (ASX:HAS) Capital Raising - Update Hastings Technology Metals Ltd (ASX:HAS) 籌資進展更新 
Capital Raising - Update
Capital Raising - Update

Sydney, June 1, 2018 AEST (ABN Newswire) - Hastings Technology Metals Ltd (Hastings or Company) (googlechartASX:HAS) advises that it has decided not to proceed with the capital raising announced on 30 May 2018 given current weak capital market sentiments as a result of political concerns in Europe.

The board believes that the decision to defer this capital raise is in the best interest of shareholders.


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.

abnnewswire.com 


Contact

Charles Lew
Chairman
T: +65-6220-9220

Guy Robertson
Company Secretary
T: +61-9078-7674



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