Hastings Technology Metals Ltd (ASX:HAS) Quarterly Activities Report

Hastings Technology Metals Ltd (ASX:HAS) (FRA:5AM) announce the Quarterly Activities Report for the period ending June 2020.

Significant highlights for the period include:

- Hasting's signs long term binding Master Agreement with German Automotive Tier 1 supplier, Schaeffler technologies AG

- Hasting's obligation is to supply a substantial volume of MREC over an initial period of 10 years

- Schaeffler continues its support for German government's untied loan guarantee (UFK) scheme for Hasting's debt financing

- Hasting's to pursue a decoupled processing strategy and relocate Yangibana's Hydrometallurgical plant to the Pilbara region of Western Australia

- Total Yangibana Project CAPEX revised to A$449m from A$517m resulting in 13% or $68M reduction in CAPEX based on Hydrometallurgical Plant relocation to the Pilbara:

o Removal of gas pipeline and resizing of the powerstation eliminates $79m

o Revised site access road re-alignments eliminate $10m

- Hasting's commences major drilling program at Yangibana

- The Western Australian Government Department of Water and Environmental Regulation has granted a works permit to construct the process plant at the Yangibana Rare Earths Project.

To view the quarterly report, please visit:
https://abnnewswire.net/lnk/DIHQL617

Charles Lew 
Chairman 
T: +65-6220-9220 /+61-8-6117-6118

Andrew Reid
Chief Operations Officer
T: +61-487-888-787