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Rights Issue Completion of Shortfall Take Up By Underwriters
Rights Issue Completion of Shortfall Take Up By Underwriters
Sydney, Mar 15, 2018 AEST (ABN Newswire) - Hastings Technology Metals Ltd (ASX:HAS) advises that the take up by underwriters of the shortfall shares under the fully underwritten (one for seventeen) non-renounceable rights issue announced on 2 February 2018 is now complete.

The rights issue raised approximately $12.2 million before costs.

A summary of shares on issue following completion of the issue of shares to underwriters is as follows:
  
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Event                                       Number of Shares 
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Shares Currently on Issue                        677,301,700
Shares taken up by the underwriters               33,710,975
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Total shares after rights issue                  711,012,675 
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About Hastings Technology Metals Ltd

Hastings Technology Metals Ltd (ASX:HAS) (FRA:5AM) 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.

 


Contact

Hastings Technology Metals Ltd
Telephone: +61-2-9078-7674
Email: info@hastingstechmetals.com
Website: www.hastingstechmetals.com



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