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Hastings Rare Metals director buys 170,000 shares on-market

Published: 16:20 03 Jun 2013 AEST

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Hastings Rare Metals (ASX: HAS) director Anthony Ho has increased his stake in the company through an on-market transaction, with the purchase of 170,000 shares for a consideration of $8,222.

Ho now holds 570,000 ordinary shares, with 500,000 $0.20 options and 50,000 $0.15 options.

Hastings Rare Metals wholly-owns the Hastings project, which is the Largest heavy rare earth project in Australia, fourth largest globally - which has resources for over 25 years at 1mtpa to produce over 10,000tpa including: 140tpa Dysprosium oxide; 830tpa Yttrium oxide; 590tpa Mixed rare earth oxide; 2,630tpa Niobium oxide; and 6,170tpa Zirconium oxide.

The project benefits from proximity to infrastructure, with the company currently in discussions with strategic partners.

Just last month the company appointed rare earth expert Malcolm Mason as a non-executive director, with Mason bringing 45 years’ experience in Australian and international exploration and mining.

Mason was the executive technical director of Greenland Minerals and Energy (ASX: GGG) from 2007 to 2010, and had a significant role in further developing Kvanefjeld, the world’s largest multi element REO resource by either JORC or Canadian NI 43-101 standards.

 

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