Half Yearly Report
The following summary of events were significant milestones in the state of affairs of the Group during the year:
- Signing of an Off-Take Contract for the supply of mixed rare earths carbonate with Sky Rock Rare Earth New Materials Co Ltd;
- Increase in Yangibana JORC 2012 resources to 21 million tonnes;
- Signing of the Design and Supply Contract for the Acid Bake Kiln with FLSmidth Pty Ltd;
- EPA releases environmental review for public consultation
- Raising $13.97 million (before costs) through the issue of 66,563,008 shares at 21 cents each;
- Major aeromagnetic target identified at Yangibana; and
- Signing of a Project Finance Mandate with KfW IPEX-Bank.
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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