Hastings (ASX: HAS) looks for $100M Yangibana raise

Hastings Technology Metals has launched a $100 million two-tranche placement to advance the Yangibana Rare Earths Project, which remains on track for commissioning in 2024.

• Tranche 1 of the Placement is set to raise approximately A$67 million, and tranche two of the Placement, subject to shareholder approval, is set to raise approximately A$33 million.
• Upon settlement of both tranches of the Placement, Hastings will have a strong cash balance of ~A$237 million (before costs).
• Non-underwritten SPP for eligible existing shareholders to raise to A$10 million (before costs) at the same price as the Placement (A$4.40 per share).

The company ASX shares are $5.42.

About Hastings Technology Metals

Hastings Technology Metals Ltd is a leading Australian rare earth company. Rare earth is critical in manufacturing a wide variety of new consumer and industrial technologies—from flat-screen TVs and energy-efficient light bulbs to hybrid cars, wind turbines and military hardware.

Hastings is an ASX-listed exploration and development company currently concentrating its efforts on its two rare earth projects in Western Australia.

Please note the following valuable information before using this website. 

Independent Research 

Market Open Australia is intended to be used only for educational and informative purposes, and any information on this website should not be taken as investment advice or guidance. It is important to conduct your own research before making any investment decisions, which should be based on your own investment needs and personal circumstances. Any investment decisions based on information contained on this website should be taken in line with independent financial advice from a qualified professional or should be independently researched and verified.