- Hastings Technology Metals (HAS) begins site works at the Yangibana Rare Earths Project in Western Australia
- Personnel and equipment have mobilised to the site to begin work which consists of the construction of access roads, an airstrip and an accommodation village
- Work also includes the construction of a communications link as well as water reticulation
- The aim of this work is to advance Yangibana towards construction before plant construction and mine development begins
- Hastings ended the day 9.09 per cent in the green with shares trading at 21 cents
Hastings Technology Metals (HAS) has begun site works at the Yangibana Rare Earths Project in Western Australia.
The Yangibana Project lies 250 kilometres northeast of Carnarvon and covers an area of roughly 650 square kilometres.
Personnel and equipment have mobilised to the site to begin early works, which consist of the construction of access roads, a 2000-metre long airstrip and a 300-bed accommodation village.
Work also includes the construction of a communications link as well as water reticulation.
The aim of these site works is to advance Yangibana towards construction before the finalisation of key service contracts for the construction of the plant and development of the processing facilities.
Executive Chairman Charles Lew says Hastings is excited to begin site works at Yangibana.
“It is hugely exciting to get boots on the ground and a major project milestone for Hastings, and our shareholders on a journey that began in 2014 to develop the Yangibana rare earths project,” Mr Lew commented.
“Following the highly successful equity raising in February and underpinned by the good progress we are making to secure debt financing, Hastings has had the confidence to commence early infrastructure work at Yangibana.”
“Getting an early start will allow Hastings to manage the overall timetable to production of our first mixed rare earths concentrate, which contains high levels of neodymium and praseodymium.”
Hastings has ended the day 9.09 per cent in the green with shares trading at 21 cents in a $334.6 million market cap.