Quarterly Activities Report
- EPA approval received to initiate construction of Stage 1 - for access road and accommodation village. Accommodation village contract signed.
- Geohydrological drilling completed and water supply source confirmed.
- Final EPA referral documentation expected to be submitted in Q2 2018.
- Commenced drilling program targeted at increasing the Probable Ore Reserves from the current 5.1Mt to ~7.5Mt in Q3 2018 and ~10Mt by Q1 2019
- MOU signed with Thyssenkrupp Raw Materials GmbH
- Fully underwritten rights issue raised $12.2 million.
- Project funding discussions underway.
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About Hastings Technology Metals Ltd
- 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