Hastings Technology Metals Ltd: December 2017 Quarterly Report
Sydney - Hastings Technology Metals Ltd. (ASX:HAS) provides the Company's Quarterly Activities Report.- Definitive Feasibility Study completed for the Yangibana Rare Earths Project
- Initial operating life of 8 years provides NPV of $466m, IRR of 78% and a payback period of 2.3 years
- First Probable Reserves estimated at 5.16mt at 1.12% TREO including 0.45% Nd2O3+Pr6O11
- Latest JORC Resources total 21.00mt at 1.17% TREO including 0.40% Nd2O3+Pr6O11
- Plan to produce up to 15,000 tons per annum of Mixed Rare Earths Carbonate on site at Yangibana
- Pre-production capital expenditure of A$335 million and operating costs of A$17.06/kg TREO (US$12.8/kg)
- Native Title Agreement signed for the entire tenement area of 650sqkm covering all rare earths minerals mined and sold
To view the full report, please visit:
http://abnnewswire.net/lnk/HM356YIG
About Hastings Technology Metals Ltd:
Hastings Technology Metals Ltd. (ASX:HAS) (FRA:5AM) is a leading Australian rare earths company, with two rare earths projects hosting JORC-compliant resources in Western Australia.
- The Yangibana Project hosts JORC Resources totalling 20.56 million tonnes at 1.18% TREO (comprising Measured Resources of 3.79 million tonnes at 1.18% TREO, Indicated Resources of 8.24 million tonnes at 1.27% TREO and Inferred Resources of 8.53 million tonnes at 1.11% 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.
Source: Hastings Technology Metals Ltd.
Contact:
Viv Roberts Director of Mining Operations
M: +61-407-477-959
Andy Border General Manager Exploration
T: +61-2-9078-7674