Rights Issue Offer Document and Entitlement Form
For a non-renounceable pro rata offer to Eligible Shareholders of approximately 39,481,260 Rights Issue Shares at an issue price of $0.31 per Share on the basis of 1 Rights Issue Share for every 17 Shares held to raise approximately $12.2 million before issue costs.
The Offer is fully underwritten. See section 9.4 for details.
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About Hastings Technology Metals Ltd
Hastings Technology Metals Ltd (ASX:HAS) (FRA:5AM) 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.
Hastings Technology Metals Ltd