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Hastings Technology Metals Ltd.
Summary
| Project: | Yangibana | |
|---|---|---|
| Deposit: | Yangibana | |
| Location: | Australia | |
| Commodities: | Rare Earth | |
| Date: | 11/28/2017 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Mine Development | |
| Report details: | 28-11-2017: Hastings Technology Metals Ltd. announces a Resource Estimation report for its Yangibana deposit at the Yangibana project. Updated Feasibility Study results incl. NPV (8%) $466M, IRR 78%, LOM 8yrs. Hastings Technology Metals Limited (ASX: HAS; | |
| Resources: | (Reserve, Prob.): 5.16Mt @ 1.12% TREO at project | |
| CP/QP: | [Overall Report]: Lynn Widenbar (Widenbar and Associates Pty Ltd.) | |
| ABSTRACT: | Hastings Technology Metals Limited (ASX: HAS; Hastings or the Company) is pleased to announce the release of its Definitive Feasibility Study (DFS) for the Yangibana Rare Earths Project (the Project) in Western Australia. The Project will produce a Mixed Rare Earths Carbonate (MREC) rich in Neodymium (Nd) and Praseodymium (Pr), critical materials used in the manufacture of permanent magnets, which are found in electrical components of many new technologyproducts, from electric vehicles (EV), renewable energy wind turbines and electronic consumer products. The DFS demonstrates attractive economics using conservative price projections for the key rare earths of Nd-Pr which the company anticipates will have solid demand based on the strong trending growth of EV and wind turbines in particular, as well as other technological innovations. The DFS furthermore demonstrated the technical viability of the Yangibana flow sheet. The DFS has made significant improvements against the operating cost estimated during the Pre-Feasibility Study (PFS) completed in June 2016, with a total DFS operating cost of A$142 million per annum compared against a PFS operating cost of A$202 million per annum. This represents a reduction of 30% in operating costs from the PFS stage. The capital expenditure (CAPEX) of A$335 million has improved significantly when compared to the PFS, with the DFS CAPEX now approximately 20% lower than at PFS stage. | |
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