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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:
Event                                       Number of Shares 
Shares Currently on Issue                        677,301,700
Shares taken up by the underwriters               33,710,975
Total shares after rights issue                  711,012,675 

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.



Hastings Technology Metals Ltd
Telephone: +61-2-9078-7674

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