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MarketScreener Homepage  >  Equities  >  Australian Stock Exchange  >  Hastings Technology Metals Limited    HAS   AU000000HAS0

HASTINGS TECHNOLOGY METALS LIMITED

(HAS)
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Hastings Technology Metals : to relocate part of rare earths plant to save costs

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07/29/2020 | 01:17am EDT

July 29 (Reuters) - Australia's Hastings Technology Metals Ltd said on Wednesday it would reduce its capital spend on the Yangibana rare earths project by about A$68 mln ($48.73 mln) through decoupling and relocating a part of it.

The rare earths explorer will relocate Yangibana's hydrometallurgical cracking and leaching plant to the Pilbara region from the Gascoyne region in Western Australia, citing benefits like lower on-site costs and easier access to port facilities.

The company said the move was a part of its strategy to become a "significant" producer of rare earths, a group of 17 minerals used in everything from ventilators to iPhones to military weapons. (Reporting by Soumyajit Saha in Bengaluru; Editing by Subhranshu Sahu)


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Financials
Sales 2021 - - -
Net income 2021 -8,74 M -6,24 M -6,24 M
Net Debt 2021 61,2 M 43,7 M 43,7 M
P/E ratio 2021 -18,5x
Yield 2021 -
Capitalization 156 M 111 M 111 M
EV / Sales 2021 -
EV / Sales 2022 -
Nbr of Employees 21
Free-Float 87,0%
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Mean consensus HOLD
Number of Analysts 1
Average target price 0,16 AUD
Last Close Price 0,13 AUD
Spread / Highest target 23,1%
Spread / Average Target 23,1%
Spread / Lowest Target 23,1%
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Managers
NameTitle
Foon Keong Lew Executive Chairman
Andrew Reid Chief Operating Officer
Chung Pit Wah Chief Financial Officer
Steinmetz Jean-Claude Non-Executive Director
Neil John Hackett Joint Secretary & Non-Executive Director
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