Hastings Technology Metals Ltd

Hastings Technology Metals (ASX:HAS) is advancing the Yangibana Rare Earths Project towards production following the completion of a positive Definitive Feasibility Study (DFS). The Yangibana Project hosts rare earth deposits rich in neodymium (Nd) and praseodymium (Pr), elements vital to permanent magnets that provide critical components of many high-tech products, including electric vehicles, renewable energy wind turbines, robotics, medical applications, etc. Hastings aims to be the next significant producer of Nd & Pr. The Yangibana Reserves & Resources are predominantly within tenements held 100% by Hastings, with the majority in granted Mining Leases. Additional Resources are held in a JV in which Hastings holds a 70% interest and has management control. The DFS has established JORC Probable Reserves of 5.15 million tonnes at 1.12% total rare earths oxides (TREO) including 41% Nd & Pr oxides (Nd2O3+Pr6O11). This Reserve is the basis of the initial operation at a planned production rate of up to 15,000 tonnes per annum (t.p.a.) of MREC including 3,400 t.p.a. of Nd+Pr, which is targeted to commence in late 2019. Including the above Reserves, Hastings has JORC Measured, Indicated and Inferred Resources of 21.0 million tonnes at 1.17% TREO including 0.40% (Nd2O3+Pr6O11). From this Resource, an Additional Production Target (APT) of a further 2.5 million tonnes from 100% owned ground, from Measured and Indicated resources, will add to feed for the production plant in later years. Brockman, a second deposit located near Halls Creek in the Kimberley region of WA, contains total JORC Indicated and Inferred Resources of 41.4 million tonnes at 0.21% TREO, plus 0.36% Niobium Oxide & 0.90% Zirconium Dioxide. The Company aims to capitalise on the strong demand for critical rare earths created by the expanding demand for new technology products. The Company is listed on the Australian Stock Exchange (ASX), stock code (HAS).