Future Producer of Neodymium & Praseodymium to the Permanent Magnet IndustryHastings Technology Metals Ltd (
- Experienced management team with rare earth production experience
- Definitive Feasibility Study (DFS) completed Nov 2017
- Off-take MOUs signed with Thyssenkrupp, Germany and 3 Chinese RE producers
- Native Title Agreement signed
- Mining Lease granted for 21 yrs since March 2016
- MREC with high NdPr content
- DFS basket price:USD29.20/kg
- Mine construction 2Q 2018
Production Q1 2020
- Probable Ore Reserves 5.15m tonnes
- JORC Resource Estimate
currently @ 21.0m tonnes
- Market Cap A$240m
- NPV A$466m
- IRR 78%
- EBITDA payback 2.3yrs
- Cash post rights issue A$25m
- No debt
- EVs exponential growth of 5x from 2020 to 2040
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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.
Hastings Technology Metals Ltd (ASX:HAS) Increase in Measured and Indicated Resources at Yangibana Project