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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 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

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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Related Industry Topics:
Mining Rare Earths

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