Perth, Australia – Australia’s next rare earths producer Hastings Technology Metals Ltd is pleased to announce that it has received the commendation of Premier Mark McGowan and the Western Australian Government for the Company’s development of the Yangibana Rare Earths Project in the State’s Gascoyne region. Premier McGowan said Hastings’ development of Yangibana was expressly aligned with the State’s Future Battery …

Perth, Australia (ABN Newswire) – Australia’s next rare earths producer Hastings Technology Metals Ltd (ASX:HAS) (FRA:5AM) is pleased to announce that it has received the commendation of Premier Mark McGowan and the Western Australian Government for the Company’s development of the Yangibana Rare Earths Project (Yangibana), in the State’s Gascoyne region.

Premier McGowan said Hastings’ development of Yangibana was expressly aligned with the State’s Future Battery Industry Strategy, which aims to expand the range of future battery minerals that are extracted and processed in Western Australia. Appendix 1 provides a copy of the public commendation that Hastings has received.

The Premier’s commendation follows the West Australian Department of Jobs, Tourism, Science and Innovation (JTSI) acknowledging that the Yangibana Project represents a strategic opportunity for investment and growth to position the State as a reliable supplier of speciality rare earth minerals.

DevelopmentWA approval for ANSIA Lot 600

The Premier’s commendation coincides with the DevelopmentWA Board approving Hastings’ application to enter into discussions for an option to lease Lot 600 within the Ashburton North Strategic Industrial Area (ANSIA) for a tenure period of up to 30 years. ANSIA, approximately 15km southwest from Onslow, is a well-connected industrial precinct that also houses the Chevron-operated Wheatstone LNG project. Lot 600 is the proposed site for Yangibana’s hydrometallurgical plant. DevelopmentWA board approval is an important Yangibana Project milestone that enables Hastings to complete detailed engineering, planning and secondary permitting for early works of the hydrometallurgy plant infrastructure.

Yangibana mine site fly camp operational, civil works advancing

Early works as part of a $20 million infrastructure scope of activities are now underway at the Yangibana mine site. The 60-bed fly camp is operational and key staff and contractors are operating from the site. Enabling infrastructure works will continue ahead of the plant construction activities and mine development planned for 2022.

As Hastings announced last month – see ASX announcement dated 25 August 2021 Site Works Commence at Yangibana Rare Earths Project – the initial construction focus will encompass:

– Access roads connecting the mine site to the public Shire roads;

– A 2,000m-long airstrip capable of accommodating aircraft up to 50 seat capacity;

– A 300-bed accommodation village;

– A multi-tower communications microwave link to connect the site to the public intra-state network;

– Water reticulation from the borefield to the processing plant; and

– Ongoing geotechnical activities.

Yangibana Project finance progressing quickly

Hastings has made significant progress towards securing the project finance required to fund Yangibana’s construction, with extensive due diligence undertaken by potential lenders since late July. Potential lenders are now preparing final credit submissions and Hastings is expecting responses to be received during Q4 2021.

Hastings is actively engaged with leading project finance banks in Australia and Europe as well as specialist mining funds in addition to the Commonwealth’s Northern Australia Infrastructure Facility, Finland’s export credit agency (Finnvera) and Germany’s state bank (KFW-Ipex Bank).

Once firm credit-approved commitments are received in Q4 2021, the drafting of formal loan documentation will be undertaken ahead of completion of standard conditions precedent and first drawdown in 2022.

Following the Company’s announcement of a significant increase in Yangibana’s Ore Reserves – see ASX announcement dated 27 July 2021 Yangibana Ore Reserve Tonnes Up 37%, NdPr Tonnes up 18% – Hastings is updating the project economic outputs. These outputs will also incorporate the latest general market consensus for NdPr pricing. The updated project economic outputs will be provided to investors with the confirmation of the final project debt finance position.

Commenting on the McGowan Government commendation and positive progress at Yangibana, Hastings Technology Metals Executive Chairman Charles Lew said:

“I would like to personally thank Premier McGowan and the Government of Western Australia for their support of Hastings and our ambition to contribute towards the State’s Future Battery Industry Strategy through the development of our Yangibana Project.

“I am incredibly proud of the Hastings team’s commitment and dedication to the challenge of building Australia’s next rare earths operation in the Gascoyne region of Western Australia.

“Early works activity is gathering momentum at Hastings across a number of fronts as we move into readying Yangibana for plant construction to commence.

“The acceleration in decarbonisation globally in the past 12 months has placed an increasing impetus on the Yangibana Project to play a vital part in the transition to a cleaner energy mix, a message we are hearing loud and clear from our offtake partners in Europe and Asia. Yangibana is in the right place at the right time to support this transition.”

To view tables and figures, please visit:
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About Hastings Technology Metals Ltd:

Hastings Technology Metals Ltd (ASX:HAS) is advancing its Yangibana Rare Earths Project in the Upper Gascoyne Region of Western Australia towards production. The proposed beneficiation and hydro metallurgy processing plant will treat rare earths deposits, predominantly monazite, hosting high neodymium and praseodymium contents to produce a mixed rare earths carbonate that will be further refined into individual rare earth oxides at processing plants overseas.

Neodymium and praseodymium are vital components in the manufacture of permanent magnets which is used in a wide and expanding range of advanced and high-tech products including electric vehicles, wind turbines, robotics, medical applications and others. Hastings aims to become the next significant producer of neodymium and praseodymium outside of China.

Hastings holds 100% interest in the most significant deposits within the overall project, and 70% interest in additional deposits that will be developed at a later date, all held under Mining Leases. Numerous prospects have been identified warranting detailed exploration to further extend the life of the project.

Brockman Project

The Brockman deposit, near Halls Creek in Western Australia, contains JORC Indicated and Inferred Mineral Resources, estimated using the guidelines of JORC Code (2012 Edition).

The Company is also progressing a Mining Lease application over the Brockman Rare Earths and Rare Metals Project.

Hastings aims to capitalise on the strong demand for critical rare earths created by the expanding demand for new technology products.

Source:
Hastings Technology Metals Ltd

Contact:
Charles Lew
Executive Chairman
+65 6220 9220

Matthew Allen
Chief Financial Officer
+61 8 6117 8634

Andrew Reid
Chief Operating Officer
+61 8 6117 8621

For media and investor queries, please contact:

Peter Klinger
Cannings Purple
+61 411 251 540 pklinger@canningspurple.com.au

Peter Kermode
Cannings Purple
+61 411 209 459 pkermode@canningspurple.com.au

News Provided by ABN Newswire via QuoteMedia

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On May 12, Canadian fund maker Purpose Investments launched a version of its bitcoin exchange-traded fund (ETF) in the Australian market by way of a partnership with Cosmos Asset Management, which is owned in part by the Australian division of Mawson Infrastructure Group (NASDAQ:MIGI).

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“We have brought together a team of global experts to offer Australian investors access to a truly high-quality product,” Dan Annan, Cosmos Asset Management CEO, said in a statement to investors.

ETF maker pursues rising international interest in cryptocurrencies

In an interview with the Investing News Network (INN), Vlad Tasevski, chief operating officer and head of product at Purpose Investments, said the firm has been actively pursuing ways to offer its crypto funds internationally.

The executive said there has been widespread interest in BTCC since its launch back in February of last year.

As the firm began evaluating how to approach this demand, the company considered setting up shop in the Australian market, Tasevski said. However, eventually the Canadian fund provider went with the partnership route.

Tasevski called Australia “the next logical jurisdiction" for the firm as it expands with its crypto funds.

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The executive said he views his company's offerings as very flexible for investors. “We'll be here for (investors) to actually give them the ability to very easily access it whenever they feel it is appropriate for them,” he said.

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Purpose Investments has suggested to investors that accessing the bitcoin market through its funds is a safer route than going it alone, especially given the current period of remarkable losses.

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Digital assets have never been more easily available as tools for all types of investors.

While many experts remain confident in the long-term outlook for bitcoin and other cryptocurrencies, the considerable volatility prevailing in the market can make the space difficult for newcomers to stomach.

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Don’t forget to follow us @INN_Australia for real-time updates!

Securities Disclosure: I, Bryan Mc Govern, hold no direct investment interest in any company mentioned in this article.

Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.

European Lithium Executive Chairman Tony Sage

European Lithium Executive Chairman Tony Sage said, “There's not one hydroxide plant in Europe, so we hope to be the first. Not only would we be able to source material from our own mine, but we may be able to source material in nearby areas.”

European Lithium Executive Chairman Tony Sage: Developing the 1st Lithium Hydroxide Plant in Europe youtu.be


European Lithium (ASX:EUR,FWB:PF8) Executive Chairman Tony Sage discussed the company’s Wolfsburg project in Austria, a country with a rich mining history dating back to WWII that maintains its infrastructure.

Wolfsburg continues that tradition, positioned only 45 kilometres from the city that hosts the largest Samsung battery factory.

"It’s quite unique. In Europe, a lot of the lithium mines are at the exploration stage," Sage said. "This mine was built back in the '80s by the Austrian government. So all the work has been done. If we were going to do this project today, we would have to get environmental approval and spend about $100 million — but they did all the work and the licence is in perpetuity.


“We can now access that mine and start mining immediately. In fact, in 2017, we mined it and took out 1,500 tonnes, which is a massive advantage in the lithium industry because we were able to build a pilot plant and put 300 tonnes of the material through the pilot plant, which gave us the results that we were looking for in that it's high-grade product.”

Sage also discussed European Lithium’s goals with the project. “Our aim is to mine it. It's a very simple mining process. We're in the process now of trying to acquire land nearby so we can actually put a conversion plant and a hydroxide plant on it. There's not one hydroxide plant in Europe, so we hope to be the first. Not only would we be able to source material from our own mine, but we may be able to source material in nearby areas.”

Sage told the Investing News Network that the government is supportive of its endeavours. “The Austrian government is very keen for us to build hydroxide plants so they can actually entice vehicle companies to build a factory nearby the hydroxide plant. This way, we can have a mine right through to the battery solution for the Austrian government. In the end, all we can do is get the mines up and operating, build the hydroxide plant and see what happens.”

The mine itself is underground. “Underground mining techniques are used all around the world. When they built it, they actually overbuilt — so when we decided to mine back in 2017, it was quite easy for us to find the seam of the orebody and then take the ore out," Sage said.

“We completed a prefeasibility study in 2018. The cost structure then was about US$7,500 per tonne to produce the hydroxide. Right now, the hydroxide price is around US$69,000 a tonne — that’s a massive profit margin that we don’t see as sustainable long term. When we do our definitive feasibility study, we're probably going to use an average price over the life of mine of about US$25,000 — but that's still a huge profit margin. That feasibility study is coming within the next four months, when we’ll be in a good position to partner with someone.”

Watch the full interview of European Lithium Executive Chairman Tony Sage above.

Disclaimer: This interview is sponsored by European Lithium (ASX:EUR,FWB:PF8). This interview provides information that was sourced by the Investing News Network (INN) and approved by European Lithium in order to help investors learn more about the company. European Lithium is a client of INN. The company’s campaign fees pay for INN to create and update this interview.

INN does not provide investment advice and the information on this profile should not be considered a recommendation to buy or sell any security. INN does not endorse or recommend the business, products, services or securities of any company profiled.

The information contained here is for information purposes only and is not to be construed as an offer or solicitation for the sale or purchase of securities. Readers should conduct their own research for all information publicly available concerning the company. Prior to making any investment decision, it is recommended that readers consult directly with European Lithium and seek advice from a qualified investment advisor.

This interview may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, receipt of property titles, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. The issuer relies upon litigation protection for forward-looking statements. Investing in companies comes with uncertainties as market values can fluctuate.

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