Hastings Technology Metals Ltd Stock Market Press Releases and Company Profile

View in Other Languages Hastings Technology Metals Ltd (ASX:HAS) 完成股权发行 Hastings Technology Metals Ltd (ASX:HAS) Rights Issue Completion of Shortfall Take Up By Underwriters Hastings Technology Metals Ltd (ASX:HAS) 完成股權發行 
Rights Issue Completion of Shortfall Take Up By Underwriters
Rights Issue Completion of Shortfall Take Up By Underwriters

Sydney, Mar 15, 2018 AEST (ABN Newswire) - Hastings Technology Metals Ltd (googlechartASX:HAS) advises that the take up by underwriters of the shortfall shares under the fully underwritten (one for seventeen) non-renounceable rights issue announced on 2 February 2018 is now complete.

The rights issue raised approximately $12.2 million before costs.

A summary of shares on issue following completion of the issue of shares to underwriters is as follows:
  -------------------------------------------------------------------Event                                       Number of Shares -------------------------------------------------------------------Shares Currently on Issue                        677,301,700Shares taken up by the underwriters               33,710,975-------------------------------------------------------------------Total shares after rights issue                  711,012,675 -------------------------------------------------------------------


About Hastings Technology Metals Ltd

Hastings Technology Metals Ltd (ASX:HAS) (FRA:5AM) is advancing its Yangibana Rare Earths Project in the Upper Gascoyne Region of Western Australia towards production. The proposed beneficiation and hydro metallurgy processing plant will treat rare earths deposits, predominantly monazite, hosting high neodymium and praseodymium contents to produce a mixed rare earths carbonate that will be further refined into individual rare earth oxides at processing plants overseas.

Neodymium and praseodymium are vital components in the manufacture of permanent magnets which is used in a wide and expanding range of advanced and high-tech products including electric vehicles, wind turbines, robotics, medical applications and others. Hastings aims to become the next significant producer of neodymium and praseodymium outside of China.

Hastings holds 100% interest in the most significant deposits within the overall project, and 70% interest in additional deposits that will be developed at a later date, all held under Mining Leases. Numerous prospects have been identified warranting detailed exploration to further extend the life of the project.

Brockman Project

The Brockman deposit, near Halls Creek in Western Australia, contains JORC Indicated and Inferred Mineral Resources, estimated using the guidelines of JORC Code (2012 Edition).

The Company is also progressing a Mining Lease application over the Brockman Rare Earths and Rare Metals Project.

Hastings aims to capitalise on the strong demand for critical rare earths created by the expanding demand for new technology products.

abnnewswire.com 


Contact

Hastings Technology Metals Ltd
Telephone: +61-2-9078-7674
Email: info@hastingstechmetals.com
Website: www.hastingstechmetals.com



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