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    HAS   AU000000HAS0

HASTINGS TECHNOLOGY METALS LIMITED

(HAS)
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Hastings Technology Metals Ltd Announces Stand-Out Simon's Find Metallurgical Test Results Further Enhance the Yangibana Project

06/14/2021 | 06:39pm EDT

Hastings Technology Metals Ltd. announced stand-out results from metallurgical test work carried out on drilling samples from Simon's Find, one of the key deposits that make up the Yangibana Rare Earths Project (Yangibana) in Western Australia's Gascoyne region. The test work carried out at Simon's Find is a key milestone in the Company's finalisation of its updated Ore Reserves and mine scheduling that will underpin Yangibana's development. The Simon's Find deposit is part of the 8km-long Bald Hill - Simon's Find - Frasers mineralized trend and is strategically located close to the site of Yangibana's proposed process plant and infrastructure. The mineralisation at Simon's Find contains the high level of Nd2O3 + Pr6O11 to total rare earth oxides (TREO) across all deposits at Yangibana - in fact, they are the high NdPr levels of any known rare earths project in the world. The average of samples tested reported Nd2O3 + Pr6O11 oxide accounting for 54% of TREO. Values as high as 57% were recorded in individual samples. Simon's Find has, on average, a much lower TREO head grade than the other Yangibana deposits. However, its industry high NdPr levels and an amenability to producing a clean monazite concentrate mean Simon's Find is able to deliver the same outstanding final results as the other deposits at Yangibana. Test work completed to date has investigated the flotation performance of a representative composite sample from the Simon's Find drilling program in 2020 and earlier as well as 22 individual variability samples. The flotation performance on the composite sample resulted in an Nd2O3 recovery of 86.3% at 8.9% Nd2O3 grade, which is comparable to the 2017 Definitive Feasibility Study baseline of a recovery of 86.4% recovery at 9.0% Nd2O3 grade. Variability test work within the Simon's Find deposit aimed to test some of the different parameters of the mineralization and develop an understanding of ore blending requirements. Two blends of a composite sample concentrate were tested through acid bake and water leach hydrometallurgical tests. The acid bake and water leach tests achieved an Nd2O3 recovery of 98%, which is 4% higher than at other Yangibana deposits. The final water leach liquor chemistry was consistent with that of other deposits across Yangibana and suitable for further downstream impurity removal and mixed rare earths concentrate (MREC) precipitation steps designed for the project. Simon's Find also contains a relatively high level of niobium, mostly in the mineral columbite. Deportment of niobium throughout the process flowsheet is still being assessed. Ore sorting variability test work indicated that the average grade at Simon's Find could be upgraded during ore sorting from 0.58% to 0.84% TREO. Early flotation test work on sorted and unsorted ore indicated that the addition of ore sorting into the circuit could improve the flotation performance.


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Financials
Sales 2021 - - -
Net income 2021 -7,06 M -5,14 M -5,14 M
Net cash 2021 15,5 M 11,3 M 11,3 M
P/E ratio 2021 -58,9x
Yield 2021 -
Capitalization 426 M 311 M 310 M
EV / Sales 2021 -
EV / Sales 2022 -
Nbr of Employees 21
Free-Float 74,7%
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Matthew Gerard Allen Chief Financial Officer
Foon Keong Lew Executive Chairman
Andrew Reid Chief Operating Officer
Steinmetz Jean-Claude Non-Executive Director
Neil John Hackett Joint Secretary & Non-Executive Director