(MENAFN - ABN Newswire)
Hastings Technology Metals Ltd (ASX:HAS)(FRA:5AM) provide Quarterly Activities Report for the period ending 30 June 2019.
- In-principle eligibility received from Euler Hermes for the Project financing of Yangibana rare earth project of up to USD140 million.
- Environmental Protection Agency recommends approval of the Yangibana project.
- Agreement concluded to purchase 100 extra rooms plus associated infrastructure from Fleetwood Pty Ltd.
- Design of critical long lead items, the Rotary Kiln Off Gas Scrubbing Plant and the Acid Baked Kiln substantially progressed.
- Successful completion of share placement and rights issue raising $23.4 million.
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Hastings Technology Metals Ltd( ASX:HAS ) ( FRA:5AM ) 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.
Charles Lew Chairman T: +65-9790-9008 /+61-8-6117-6118Valerie QuayLegal Counsel & Business PlanningT: +65-9781-3220