Australia’s next pure rare earths producer Hastings Technology Metals Limited (ASX: HAS) has provided its exploration and development activities report for the period ended 31 December 2020. Most of the activity was focused on the company’s world-class Yangibana rare earths project in the Gascoyne region of Western Australia.
HIGHLIGHTS:
Yangibana’s Mineral Resource Development
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Simon’s Find drilling results confirm a major 2km long zone of economic mineralisation, significantly expanding the existing resource base.
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The Fraser’s-Simon’s Find-Bald Hill trend now forms an immense 8km-long corridor of rare earth mineralisation.
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Simon’s Find confirmed to contain extremely high quantities of neodymium (Nd2O3) and praseodymium (Pr6O11) and, when combined, total 52% of the TREO (total rare earth oxides) values.
Yangibana’s Project Development
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Focus on site optimisation designs including relocation of Tailings Storage Facility.
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Good progress with decision on hydrometallurgical plant site location and relevant agreements and approvals processes.
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Strong interest in commercial debt process as part of Yangibana project financing options lead managed by KPMG Corporate Finance.
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Corporate Appointment of highly experienced mining executive Bruce McFadzean as a Non-executive Director. • Appointment of Mr Matt Allen as Chief Financial Officer with effect from 1 February 2021. • Hastings had $20 million in cash and equivalents as at December 31 2020.
