Hastings Technology Metals (“Hastings” or “the Company”), an ASX listed rare earths developer, is concentrating activities on its Yangibana Project (“Yangibana” or “the Project”) in the Gascoyne region of Western Australia. Recent drilling and other exploration activities have highlighted the potential for expansions of the current high confidence resources. We have carried out a valuation for Hastings, with this including an NPV valuation for Yangibana at current rare earth prices, a nominal value for Brockman and cash as at 31 December 2016. This gives a base case valuation range $54 - $89 million, with a mid-point of $71 million, equivalent to a per share range of $0.102 - $0.169, with a midpoint of $0.136.
29 Mar 2017
ASX Junior Miner, Near Term Rare Earth Producer - Hastings Technology Metals Limited (ASX:HAS)
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ASX Junior Miner, Near Term Rare Earth Producer - Hastings Technology Metals Limited (ASX:HAS)
Hastings Technology Metals Limited (HAS:ASX) | 0 0 1.7% | Mkt Cap: 204.7m
- Published:
29 Mar 2017 -
Author:
Mark Gordon -
Pages:
25
Hastings Technology Metals (“Hastings” or “the Company”), an ASX listed rare earths developer, is concentrating activities on its Yangibana Project (“Yangibana” or “the Project”) in the Gascoyne region of Western Australia. Recent drilling and other exploration activities have highlighted the potential for expansions of the current high confidence resources. We have carried out a valuation for Hastings, with this including an NPV valuation for Yangibana at current rare earth prices, a nominal value for Brockman and cash as at 31 December 2016. This gives a base case valuation range $54 - $89 million, with a mid-point of $71 million, equivalent to a per share range of $0.102 - $0.169, with a midpoint of $0.136.