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Hastings Technology Metals Ltd.
Summary
| Project: | Yangibana | |
|---|---|---|
| Deposit: | Yangibana | |
| Location: | Australia | |
| Commodities: | Rare Earth | |
| Date: | 3/11/2019 | |
| Report Code: | JORC | |
| Report Type: | Feasibility Study | |
| Project Stage: | Mine Development | |
| Report details: | 11-3-2019: Hastings Technology Metals Ltd. announces a Feasibility Study report for its Yangibana deposit at the Yangibana project. Updated economics incl. post-tax NPV of A $447M, IRR of 28%, 10yr LOM at the project. Hastings Technology Metals Limited (“ | |
| Resources: | (Reserve, Prob): 10.35Mt @ 1.22% TREO | |
| CP/QP: | [Overall Report]: n/a (n/a) | |
| ABSTRACT: | Hastings Technology Metals Limited (“Hastings” or “the Company”) is pleased to announce that the board has approved the release of the updated capital cost estimate for the Yangibana Rare Earths mine to approximately $427 million. The mine located 270 kms north-east of Carnarvon in the Gascoyne region of Western Australia will be a robust, low cost and high cash generating asset with expansion potential that sets Hastings up for further growth poised to take advantage of the escalating electric vehicle (EV) market. Hastings Executive Chairman, Charles Lew said “Selection of global Tier 1 equipment suppliers, refinements of the process plant layout and changes to the tailings storage facility give further confidence in the constructability and operability of the project.” Future expansion options have been enabled through process design improvements allowing further development of the largely unexplored tenement package. Project Capital Cost Since the Definitive Feasibility Study (November 2017), the project NPV has decreased by 4% to $447 million due to capital cost increases as a result of the board mandated decision to source, where possible, only Tier 1 process plant | |
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