Hastings Technology Metals (HAS) investor relations material

Executive summary

• Advanced acquisition of a 49% stake in a hydrometallurgical Mixed Rare Earth Chloride (MREC) plant in Thailand, with a capped consideration of US$15 million, mainly in shares and deferred payments.

• Released a detailed seven-stage process flowsheet for the Thai plant and secured a Framework Offtake Agreement for African monazite concentrate feedstock.

• Completed a $1.0 million strategic placement to Malaco Mining Sdn Bhd, expanding the shareholder base.

• Issued further shares from option conversions ahead of HASO option expiry.

• Post-quarter, doubled planned Thailand MREC capacity to 12,000tpa and released an updated DFS for Yangibana Stage 1.

Financial highlights

• Closed the quarter with approximately A$3.76 million in cash.

• Net cash used in operating activities was A$1.13 million for the quarter.

• Net cash from investing activities was an outflow of A$0.85 million.

• Net cash from financing activities was an inflow of A$3.76 million, including a $1.0 million placement and $2.87 million from option exercises.

• Payments to related parties totaled A$142,000 for the quarter.

Outlook and guidance

• Targeting first MREC production from the expanded Thai plant in Q1 2027.

• Yangibana Stage 1 DFS confirms a pre-tax NPV of A$649 million and 34% IRR, with a 2.4-year payback.

• Thailand plant capacity expansion to 12,000tpa MREC output incorporated into initial build, with potential for further expansion to 36,000tpa from 2028.