- Successful capital raising of
- Strong interest from existing shareholders and new institutional and sophisticated investors resulted in the Placement being oversubscribed.
- Outstanding rare earth oxide grades received from 29 out of 30 drill holes from Fraser's North and South, part of the
- High-grade and shallow intersections from Fraser's North and South drilling include:
o 3m @ 7.28% TREO from 8m
o including 1m @ 18.57% TREO from 8m;
o 8m @ 3.51% TREO from 31m;
o 2m @ 1.67% TREO from 31m;
o 6m @ 1.42% TREO from 8m; and
o 4m @ 1.36% TREO from 17m.
- Highest-grade intersections occur south of the current Fraser's
- Drill results of Fraser's North to date show Nd2O3+Pr6O11 as a % of TREO to be as elevated as 58%.
- Drilling results from Fraser's North now confirm contiguous new mineralisation up to 250m from the Fraser's
- Project development has accelerated following the capital raising, with a priority on assessing Yangibana process plant decoupling opportunities.
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About
Neodymium and praseodymium are vital components in the manufacture of permanent magnets which is used in a wide and expanding range of advanced and high-tech products including electric vehicles, wind turbines, robotics, medical applications and others. Hastings aims to become the next significant producer of neodymium and praseodymium outside of
Hastings holds 100% interest in the most significant deposits within the overall project, and 70% interest in additional deposits that will be developed at a later date, all held under Mining Leases. Numerous prospects have been identified warranting detailed exploration to further extend the life of the project.
The Brockman deposit, near
The Company is also progressing a
Hastings aims to capitalise on the strong demand for critical rare earths created by the expanding demand for new technology products.
Contact:
Chairman
T: +65-6220-9220 /+61-8-6117-6118
Chief Operations Officer
T: +61-487-888-787
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