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ASX:HAS

4 stories mentioning ASX:HASUpdated 26d ago

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Asia

Hastings Technology Metals to Increase Processing Capacity for Thailand Plant

Hastings Technology Metals (ASX:HAS) plans to increase the proposed processing capacity for the mixed rare earth chloride (MREC) hydrometallurgical plant in Thailand, following further plant design and project economics assessment, according to a Tuesday filing with the Australian bourse.Planned processing capacity at the plant will be raised to about 10,000 tonnes per year (tpa) of feed or 12,000 tpa MREC output from 5,000 tpa of feed or 6,000 tpa MREC output, the filing said.The company is finalizing its acquisition of a 49% interest in the plant from Singapore-based critical minerals firm Enuo, per the filing.

ASX:HAS
Asia

Hastings Technology Metals Reports Pre-Tax NPV of AU$649 Million in Updated Yangibana DFS, Shares Up 5%

Hastings Technology Metals (ASX:HAS) said an updated definitive feasibility study (DFS) for stage 1 of its Yangibana rare earths and niobium project in Western Australia has returned a pre-tax net present value (NPV) of AU$649 million at an 8% discount rate, according to a Monday Australian bourse filing.The DFS showed a pre-tax internal rate of return (IRR) of 34% and a payback period of 2.4 years from first production, delivering average earnings before interest, taxes, depreciation, and amortization (EBITDA) of AU$108 million per year after royalties and total life-of-mine EBITDA of AU$2.04 billion over a 19-year mine life, the filing added.The life-of-mine average cash operating cost is AU$162.21 per tonne of run-of-mine ore, or AU$20.75 per kilogram of total rare earth oxide (TREO) in concentrate, with an all-in sustaining cost of AU$192.07 per tonne or AU$25.57 per kilogram of TREO, the filing added.The total ore reserve stands at 20.9 million tonnes at 0.9% TREO, with no production attributed to inferred mineral resources, it added.The company's shares rose 5% in recent Monday trade.

ASX:HAS
Asia

Hastings Technology Metals Raises AU$1 Million Via Strategic Placement to Malaysia's Malaco Mining

Hastings Technology Metals (ASX:HAS) said Malaco Mining agreed to make a strategic investment of AU$1 million via a placement of 2.7 million fully paid ordinary shares at AU$0.365 per share, according to a Tuesday Australian bourse filing.Malaco Mining is a Malaysian mining company established in 2005, focused on mineral exploration and development in the Asia-Pacific, with key projects in Malaysia and Australia, the filing added.Hastings intends to apply the proceeds toward general working capital and to support its rare earths strategy in Australia and Thailand, including the ongoing advancement of its rare earths project pipeline and Thai-based hydromet plant, with Malaco's investment providing additional balance sheet flexibility, it added.

ASX:HAS
Asia

Hastings Technology Metals Signs Offtake Agreement With Enuo for African Monazite Concentrate Supply

Hastings Technology Metals (ASX:HAS) said it has executed a framework offtake agreement with Enuo Holdings for the supply of a minimum 5,000 metric tonnes per year of African monazite concentrate to its hydrometallurgical plant in Thailand, according to a Tuesday Australian bourse filing.The company said the agreement provides for a two-year supply term with an option for a one-year renewal prior to the Yangibana project coming online, with commissioning of the hydromet plant expected to commence in June.The monazite concentrate contains magnet rare earth elements of neodymium and praseodymium of about 20% of total rare earth oxide (TREO), alongside dysprosium and terbium of about 1% to 1.3%, the filing added.Following Hastings' recent acquisition of a 49% interest in the hydromet plant, the agreement secures the raw material feedstock required to commission and operate the plant, with production planned to commence by the fourth quarter, the filing added.The company said that Enuo is its existing partner under a January technical services and research agreement covering Yangibana and Brockman ore test work, and the offtake agreement extends that relationship to the physical supply of concentrate for production.The company's shares rose 2% in recent Tuesday trade.

ASX:HAS

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