Hastings Technology Metals Ltd: Dispatch of Replacement Prospectus
Sydney, Australia - Hastings Technology Metals Ltd. (ASX:HAS) (FRA:5AM) (Hastings or the Company) refers to its replacement prospectus dated 10 April 2019 for a partially underwritten non-renounceable rights offer to raise up to A$16.5 million (before costs) (Replacement Prospectus).The Company confirms that dispatch to eligible shareholders of the Replacement Prospectus, together with the personalised Entitlement and Acceptance Forms, has occurred.
As announced on 9 August 2019 and in the Replacement Prospectus, shareholders who hold shares at 5pm (WST) on 15 April 2019 (Record Date), and have a registered address in Australia and New Zealand, may subscribe for shares in the Company at $0.17 per share, on the basis of 1 new share for every 8 shares held on the Record Date, together with one free attaching option, exercise price $0.25 with expiry date 12 April 2022, for every 2 new shares subscribed for.
About Hastings Technology Metals Ltd:
Hastings Technology Metals Ltd. (ASX:HAS) is a leading Australian rare earths company, with two rare earths projects hosting JORC-compliant resources in Western Australia.
- 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.
Source:
Hastings Technology Metals Ltd.
Contact:
Mr Charles Lew Executive Chairman T: +65-6220-9220 Mr Andrew Reid Chief Operating Officer T: +61-8-6117-6118