Quarterly Activities Report
- Probable Ore Reserves increased to 7.74 million tonnes at 1.13%TREO including 0.43%Nd2O3+Pr6O11, and further successful infill and extension drilling
- These additional Ore Reserves confirm the eight-year mine life as described in the Company's Definitive Feasibility Study (DFS) of November 2017
- Major aeromagnetic target identified at Yangibana
- Exclusive mandate executed with German KfW IPEX-Bank for project finance loan advisory services
- KfW IPEX-Bank has provided indicative terms for senior debt of up to A$250 million for the project (conditional upon UFK Cover being obtained)
- Environmental Protection Authority (EPA) releases Yangibana rare earths project public environmental review report for consultation
- Execution of agreement for supply of Rotary Kiln and technical assistance with FLSmidth
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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