Hastings Rare Metals
Full Hastings Rare Metals profile here
Hastings Rare Metals (ASX: HAS) is focused on investing in the resource sector through direct tenement acquisition, joint ventures, farm in arrangements and new project generation.
The company is advancing the Hastings Rare Metals and Heavy Rare Earths Project, with a scoping study showing the project has potential to be one of the world’s richest heavy rare earth projects.
Hastings Rare Metals in pre open pending capital raising announcement
Monday, February 06, 2012 by John Phillips
Hastings Rare Metals (ASX: HAS) has been granted a trading halt by the ASX pending the release of a proposed capital raising announcement, with the company's shares placed in pre-open.
Hastings has not yet indicated where the potential inflow of funds will be allocated, but the company is a very interesting one with some highly prospective projects in Western Australia.
These include the wholly owned Hastings Project, which contains one of Australia’s largest heavy rare earth resources, including significant dysprosium and yttrium, with niobium and zirconium.
Drilling at the project in 2011 delivered a JORC Resource comprising; 36.2 million tonnes at 2102ppm (0.21%) total rare earth oxides, including 85% heavy rare earth oxides, 3546ppm (0.35%) Nb2O5, and 8913ppm (0.89%) ZrO2.
Hastings also has a 60% stake Yangibana Project, with average grades of circa all 1.7% to 2.0% total rare earth oxides with high grades of neodymium.
The halt will last until the earlier of an announcement being made to the market, or the opening of trade on Wednesday 8 February.
No investment advice
The Company is a publisher and is not registered with or authorised by the Financial Services Authority (FSA). You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.
You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.
From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.
