Insights

Why the Hastings (ASX:HAS) share price is edging higher today

This ASX share is set for big things in the coming years.
The post Why the Hastings (ASX:HAS) share price is edging higher today appeared first on The Motley Fool Australia. –

The Hastings Technology Metals Ltd (ASX: HAS) share price is pushing higher during morning trade. This comes after the emerging rare earths producer announced an update on the Ore Reserves Estimate at its Yangibana Rare Earths Project.

At the time of writing, Hastings shares are up 2.70% to 19 cents. In comparison, the All Ordinaries Index(ASX: XAO) is up 0.3% to 7,696 points.

Hastings significantly increases Ore Reserve Estimate

In today’s statement, Hastings advised that it has increased the Total Proven and Probable Ore Reserves at Yangibana. Successful exploration activities during last year have led the company to revise its estimate.

Hastings revealed that the total Ore Reserve has significantly increased to 16.7 million tonnes at 0.95% Total Rare Earths Oxide (TREO). This is a 37% improvement in the Ore Reserve tonnes compared with the previous Ore Reserve Estimate announced in 2019.

Most notably, the company stated that TREO tonnes rose 15% to 158,400 tonnes. This is exceptionally important as the ore contains Neodymium and Praseodymium (NdPr). These elements are both key components in the electric vehicle industry.

Hastings targeted 5 of the 10 deposits at Yangibana during its 2020 exploration program. Extensive drilling comprised of 341 reverse circulation (RC) holes for a total depth of 23,739 meters. In addition, 46 diamond holes totalled more than 1,605 meters.

Diamond drilling is a more efficient way for precise sampling and analysis, whereas RC drilling is used for extracting bulk samples. When it comes to speed, RC drilling is the faster method, however, diamond drilling is employed when seeking accurate results.

Based on the findings, Hastings extended the mine life to a minimum of 15 years. Ore sorting technology is expected to be sourced in Yangibana’s mine development for processing the ore.

In addition, the company is aiming to secure debt financing to begin construction activities in the second-half of 2021.

What did management say?

Hastings executive chair, Charles Lew commented:

I am delighted to announce this significant increase in the Ore Reserve at Yangibana, which is the result of our successful exploration programs across existing and new deposits last year and will allow us to plan for a mine operating life of at least 15 years.

Importantly, there remains substantial mineral resource upside potential at Yangibana, which we will further assess in due course.

Hastings share price snapshot

Over the last 12 months, the Hastings share price has posted a gain of around 50%, with year-to-date up 10%.

Hastings presides a market capitalisation of roughly $330 million, with approximately 1.7 billion shares on its books.

The post Why the Hastings (ASX:HAS) share price is edging higher today appeared first on The Motley Fool Australia.

Should you invest $1,000 in Hastings right now?

Before you consider Hastings, you’ll want to hear this.

Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Hastings wasn’t one of them.

The online investing service he’s run for nearly a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.

*Returns as of May 24th 2021

More reading

What these 5 outperforming ASX shares have in common

Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;


To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.


An active and funded account with a positive trading balance is required to continue to have access to the tools;


Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;


Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!