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Hastings Technology Metals Limited ( (AU:HAS) ) just unveiled an announcement.
Hastings Technology Metals Ltd has completed a joint venture agreement with Wyloo Consolidated Investments Pty Ltd for the Yangibana Rare Earths and Niobium Project. Wyloo now holds a 60% interest and will manage the project, while Hastings retains a 40% stake. This partnership cancels A$123 million in outstanding exchangeable notes, strengthens Hastings’ financial position, and de-risks the project by leveraging Wyloo’s expertise. The collaboration is expected to accelerate the project’s pathway to production, enhancing its status as a significant player in Australia’s rare earth supply chain.
The most recent analyst rating on (AU:HAS) stock is a Hold with a A$0.28 price target. To see the full list of analyst forecasts on Hastings Technology Metals Limited stock, see the AU:HAS Stock Forecast page.
More about Hastings Technology Metals Limited
Hastings Technology Metals Ltd is a company operating in the rare earths industry, focusing on the development of the Yangibana Rare Earths and Niobium Project in Western Australia. The company is involved in the production and beneficiation of rare earth elements, which are crucial for various high-tech and clean energy applications.
Average Trading Volume: 238,750
Technical Sentiment Signal: Strong Sell
Current Market Cap: A$62.26M
Learn more about HAS stock on TipRanks’ Stock Analysis page.