Hastings Technology Metals on having approximately $5Billion worth of rare metals in the ground
November 10, 2015 — Malcolm Mason, Non-Executive Director of Hastings Technology Metals Limited (ASX: HAS) in an interview with Tracy Weslosky, Publisher for InvestorIntel discuss the significant magnetic materials resource update in the Yangibana project announced recently. Primarily neodymium and praseodymium are the main metals at Hastings Technology Metals and they supply about 85% of the value of the mineralization.
Tracy Weslosky: I want to start by congratulating you. You’ve just put out major milestone news here recently. Can you tell us about your new resource announcement and hit us with the highlights please.
Malcolm Mason: Well, the highlight is we now have 12 million tons of resources and within that there’s over 130,000 tons of rare earths. We have approximately $5 billion dollars’ worth of rare earth metals in the ground on our project now.
Tracy Weslosky: If that doesn’t get everyone’s interest I don’t know what will Malcolm. Let me back you up a little bit. For everyone out there who may not be familiar with Hastings’ Yangibana project, can you give us an overview of this project?
Malcolm Mason: Yangibana is about 300 kilometers from the coast in the Gascoyne region. It covers around 650 square kilometers. We have outcropping mineralization over a distance of more 50 strike kilometers. Much of the ore is quite shallow. It looks as though the metallurgy is going to come out very nicely for us.
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Tracy Weslosky: Well, let’s get right to the metallurgy because this is a 39-page news release so we have a lot of exciting nuggets in here, first and foremost, of course, is Hasting’s specialized targeting for the most high-priced rare earths or technology metals. Can you talk to us specifically about this four metals and what you found in your most recent drilling program?
Malcolm Mason: In terms of the main metals for us, neodymium, praseodymium are the main metals. They supply about 85% of the value of the mineralization. We have dysprosium and also europium.
Tracy Weslosky: You’ve done a significant amount of drilling here in the last year. Can you tell me what the plan of action is with this drilling program and what you’re planning on doing next?
Malcolm Mason: Well, as part of the PFS and along with a host of other things we’re doing, we will issue a report or a PFS report probably about March of next year. That means we have to cover a whole host of items, too many to note. But, maybe as a point of the detail, we’ve identified potable drinking water sufficient to supply a mine of more than a million tons per annum for as long as you would want in an area that was previously considered to be a desert…to access the rest of the interview, click here
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