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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) is currently developing a rare earths mine and processing plant at Yangibana in the Gascoyne Region of Western Australia. The processing plant is anticipated to commence production of MREC in 1Qtr 2020. Hastings has completed both beneficiation and hydrometallurgy pilot plants, in the process producing MREC samples which are high in neodymium and praseodymium content. These are critical materials for the production of permanent magnets and other technology applications. The MREC will be capable of being further separated and refined to produce a number of individual rare earth oxides outside of Australia. Hastings estimates an annual production quantity of 15,000 tonnes of MREC which it will sell to offtake partners globally.

 

Contact

Viv Roberts
Director of Mining Operations
M: +61-407-477-959

Andy Border
General Manager Exploration
T: +61-2-9078-7674



Link: Quarterly Activities Report



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Hastings Technology Metals Ltd
   


Related Industry Topics:
Mining Rare Earths

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