Hastings Tech Metals Slashes Yangibana Project Costs

Hastings Technology Metals Limited (AU:HAS) has released an update.

Hastings Technology Metals Ltd has streamlined its Yangibana Project by cutting its remaining capital cost to $320 million, reflecting a $30 million reduction in construction costs and $26 million in operating cost savings during ramp-up. They successfully raised $15.88 million through a renounceable rights issue and boast a cash reserve of $21.8 million as of June 30, 2024. The company also celebrates a strategic investment from JL Mag, the global leader in rare earths permanent magnets, and maintains a strong safety record with zero recordable injuries in FY2024.

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