# HAS - Hastings Technology Metals



## System (15 August 2010)

Augustus Minerals Limited (AUJ) is gold and based metals Exploration Company, with projects in Australia and Kazakhstan.

http://www.augustusminerals.com.au


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## System (22 March 2011)

*Re: HAS - Hastings Rare Metals*

On March 15, 2011, Augustus Minerals Limited (AUJ) changed its name and ASX code to Hastings Rare Metals Ltd. (HAS).


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## springhill (6 July 2012)

*Re: HAS - Hastings Rare Metals*

For those interested in Heavy Rare Earths, an run down of HAS structure and operations.

Ordinary Shares 125.26 million
Unlisted Options 15m at 40 cents
Unlisted Options 37m at 25 cents
Unlisted Options 20.6m at 15 cents
Cash at hand (12 April 2012) A$4 million approx.

Top 20 59%
Kongoni 19%
Singapore investment funds 12%
Japanese REE fund 6.4%
Board/Management 7%


Hastings Rare Metals Limited (HAS) has two Rare Earth Projects in WA, both recognised by GeoScience Australia as key REO deposits. Both deposits remain open at depth and along strike.

*Hastings Project 100%*
 Hastings Project (WA) is Australia’s largest Heavy Rare Earth project, and includes significant Dysprosium and Yttrium, with Niobium and Zirconium by products.
 2011 drilling defined JORC-compliant Indicated and Inferred Resources totalling:
36.2 million tonnes @ 2102ppm (0.21%) Total Rare Earth Oxides (TREO) including 85% Heavy Rare Earth Oxides 
3546ppm (0.35%) Nb₂O₅
8913ppm (0.89%) ZrO₂
 Over $10m previously spent on the project
 Historical metallurgical results from pilot plant tests show recoveries of around 75% for Dysprosium and Yttrium, 80% for Niobium and Zirconium
 Metallurgical test work is ongoing on samples prepared from the 2011 drilling programme




*Yangibana Project 60%*
 Yangibana Project (WA) (206 sq. km under Exploration Licences) average grades of circa all 1.7%-2.0% TREO with high proportion of Neodymium (24%)

HAS leads the way in valuable REE mix with HREE (Dysprosium and Yttrium) at Hastings and LREE (Neodymium) at Yangibana. These are classified as “critical” rare earths by the US Department of Energy (December 2010)
 Dysprosium has been highlighted as being among the highest priority and most critical strategic metals now
consumed world-wide for high technology, clean energy applications and military. The December 2010 report by the US Department of Energy named dysprosium as the single most critically threatened strategic metal
to the United States. This situation has also been recognised in Europe and Asia.
 Yttrium The most important use of yttrium is in making phosphors, such as the red ones used in television and
tablet displays and in LEDs. Other uses include the production of electrodes, electrolytes, electric filters, lasers
and superconductors.
 Neodymium oxide is widely considered one of the three rare earth oxides with critical supply shortages looming in the high performance magnet industry.
Also at Hastings
 Niobium and tantalum commonly occur in the associated minerals columbite (Fe,Mn)Nb2O5 and tantalite
(Fe,Mn)Ta2O5. Main source of niobium however is pyrochlore NaCaNb2O6F. Niobium is an important alloying
element in steels and Fe-Ni-Co based superalloys. Lesser use in diverse areas such as camera lenses and
coating of glass for computer screens.
 Zirconium occurs predominantly as the silicate mineral zircon ZrO2. Used mostly in ceramics, foundry
applications, opacifiers and refractories. Main growth areas are advanced ceramics and auto-exhaust catalysts.
Significant use in nuclear energy industry in fuel rods and reactor vessel construction.
 Tantalum occurs in wide range of minerals but any tantalum-bearing concentrate is commonly termed tantalite.
Highly corrosion resistant and refractory. Used in cutting tools, mobile phones, high temperature alloys and
furnace parts to computer hard drive discs.


 Hastings project includes significant resources of Dysprosium and Yttrium while Yangibana contains
Neodymium, three of the critical rare earths (CREO).
 The Hastings project mineralisation contains 85% HREO to TREO the highest percentage of all advanced exploration projects

Hastings Project Path Forward and significant milestones
 Validation and Verification of previous metallurgy (Mid Year)
 Scoping Study to confirm economics
 Define Southern Extension Opportunity
 Optimisation of product suite (End of Year)
 Pre-feasibility study (Early 2013)
 Pilot plant (Early 2013)
 Bankable Feasibility study (End of 2013)


Advantages of Hastings Project
 Indicated JORC resource of >30 years operations at 1m tonnes per annum – potential to expand and to double outputs
 4th largest HREO Project in the world, largest in Australia
 85% Heavy Rare Earths as a percentage of TREO
 Historic pilot plant operation for the critical initial extraction circuit
 Experienced team of management, process developers and project engineers in place
 Schedule savings in Exploration and Metallurgy Development are significant compared to other potential HREO developers (4-5 years).

Going on my low cap list


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## springhill (9 July 2012)

*Re: HAS - Hastings Rare Metals*

Hastings has released an updated investor presentation. Worth looking at is their interpretation of the HREO supply and demand for the future and the areas of supply.
http://www.asx.com.au/asxpdf/20120709/pdf/4279qdhfwr8g0q.pdf


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## springhill (24 July 2012)

*Re: HAS - Hastings Rare Metals*

Found this in HAS' June quarterly, which I had not noticed before.

*European Trade Mission*
During the quarter the Company took part in a European trade mission which included sessions with representatives of major German industries. This initiative is part of the Company’s objective of identifying and meeting major users of heavy rare earth projects in all continents with a view to developing strategic relationships.


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## springhill (13 August 2012)

*Re: HAS - Hastings Rare Metals*

*CHINA TO CLOSE RARE EARTHS OPERATIONS*

● China’s Ministry for Industry and Information Technology announces a new standard limiting rare earths mining and processing
● Closures of more than one third of rare earths mines and up to half of China’s smelters and extracting enterprises expected

The Chinese central government has announced a new standard designed to optimise production of rare earths, slow depletion of the country’s reserves, and reduce the impact of rare earths mining and processing on the environment. The new standard announced this week will encourage development of rare earths projects outside China to meet the looming shortfall of world supply.
The Hastings project in northern Western Australia is the largest heavy rare earths project in Australia and the world’s fourth largest. Its main output will be the heavy rare earths dysprosium and yttrium, both nominated by the US Department of Energy in 2010 as “critical”. The Hastings project is expected to have a mine life capacity exceeding 25 years.
China possesses less than 25% of the world’s rare earths reserves, but accounts for over 90% of production. Rare earths are critical to the making of high-technology and low-emission manufactured goods such as hybrid vehicles, wind turbines, smart phones, wireless devices, cordless electrical tools and flat screen televisions. The benefits include reduced weight, greater efficiency and lower energy consumption.
The new standard is expected to reduce the 23 rare earths mines in China by more than a third and the 99 smelting and extracting enterprises by up to one half. It also imposes for the first time minimum production levels on those surviving enterprises, of 20,000 tonnes per year for mines and 2,000 tonnes a year for smelters.
An official from the Ministry for Industry and Information Technology, Mr Yinsong, is quoted in the China.org.cn website saying that, “besides weeding out sub-standard companies, the merger and recombination of rare earth enterprises within the industry will continue.” Lin Boqiang, director of the China Energy Research Centre at Xiamen University, told China.org.cn that the government was “more likely to support three or four domestic rare earths enterprises so they can control the international market price in the future”. Rare earths metals have typically traded in China at prices below international prices.

Alastair Metcalf, the CEO of Hastings Rare Metals, which is developing the largest heavy rare earths project in Australia in northern Western Australia, said, “China has limited reserves of rare earths. The actions it is taking to address its challenges can only reduce the supply of rare earths to world markets. Major manufacturers are right to be concerned about the supply of heavy rare earths. The Hastings resource is one of very few projects that can provide a secure supply of heavy rare earths for over 25 years.”
It has been widely reported that over the past two years that China is moving to restrict output and exports of rare earths and recently began stockpiling. Early this year, the US, Japan and European nations started proceedings in the World Trade Organisation against China claiming it was in breach of its free trade commitments.
In June, the Chinese government published a White Paper which outlined moves to optimise its rare earths reserves and slow their depletion. These included moratoriums on the issue of new exploration and mining licences and prohibiting existing mines lifting their output. The new standards announced this week continue the trend of consolidating the Chinese rare earths industry and are beneficial to Hastings Rare Metals.


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## burglar (20 August 2012)

*Re: HAS - Hastings Rare Metals*

Importance of Rare Earths to Modern Manufacturing:

http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=01324282

"Benefits of rare earths – Rare earths can be equated to the vitamins of
modern manufacturing. They create disproportionately large benefits
in the end product. The major benefits include reduced weight,
greater efficiency and lower energy consumption. They allow
enhanced efficiency, performance, speed, miniaturisation, durability
and thermal stability. They are essential to the manufacture of high
technology applications where there is a constant search for greater
efficiency and performance."


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## springhill (6 September 2012)

*Re: HAS - Hastings Rare Metals*

*SCOPING STUDY CONFIRMS STRONG BUSINESS CASE FOR HASTINGS HEAVY RARE EARTHS PROJECT*
HIGHLIGHTS
• Compelling economics with a base case net present value (‘NPV’) of A$1.9 billion, an IRR of 26% and payback of 3.6 years for the 100% owned Hastings Project
• Earnings of $223 million per annum represent a gross operating profit margin of 46%
• Revenue is predominantly heavy rare earths, differentiating the project from others
• Hastings Project to advance to piloting and feasibility study

Based on the Scoping Study and detailed work completed by the Company and its consultants over the last six months, the Company is now able to confirm:
• The resource at the Hastings Project can be mined by conventional open-cut methods
• The mine life would be 25 years based on the existing Resources of 36.2 million tonnes. With further drilling, the Resource could be increased
• Ore will be processed through a plant built on-site in Western Australia, without the need to transport intermediate products interstate or overseas
• The flow sheet has been confirmed, with metallurgical recoveries of 75% for rare earths and 70% to 75% for rare metals
• The project is to produce over 10,000 tonnes of rare earths oxides and rare metal oxides annually for 25 years. The saleable products will be high purity oxides that are significantly more valuable than rare earth carbonates or concentrates
• The strong demand and supply shortage projected for heavy rare earths is highly opportune for the Project. Heavy rare earths, such as Dysprosium and Yttrium that are both on the US Department of Energy’s ‘critical’ list, represent the majority of the projected revenue
• The project has a base case net present value (‘NPV’) of A$1.9 billion, with substantial upside. For example, using price forecasts from BCC Research, including Dysprosium at US$2,170/kg (currently US$950/kg), would more than triple the NPV of the Project
• The Scoping Study has successfully reduced the risks and identified options to further optimise the project.

*HASTINGS HEAVY RARE EARTHS PROJECT*
Project
Hastings Project, Western Australia, 100% owned by Hastings Rare Metals (ASX Code HAS)
Processing
1 million tonnes per annum, with upside to 1.5mtpa
Recoveries
75% for Dysprosium, Yttrium and Niobium, 70% for Zirconium
Average Annual Production
• 140 tonnes of Dysprosium oxide 
• 830 tonnes of Yttrium oxide
• 590 tonnes of a mixed rare earths oxide
• 2,630 tonnes of Niobium oxide 
• 6,170 tonnes of Zirconium oxide
Mine Life
25 years from existing Resources
Prices
August 2012 China FOB prices for Dysprosium, Yttrium, Niobium and Zirconium.
2.5% p.a. price increase for Dysprosium and Yttrium due to forecast strong demand and supply shortage
Exchange rate
A$ deflating to 85c by 2016
Capital cost
$720 million plus $96 million contingency
Earnings
Revenue of $482 million, operating costs of up to $259 million, generating EBITDA of $223 million
Net present value
$1.9 billion (pre-tax, 100% equity, 8% discount rate, real terms)
Internal rate of return
26%


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## springhill (6 September 2012)

*Re: HAS - Hastings Rare Metals*

HAS latest investor presentation
http://www.asx.com.au/asxpdf/20120906/pdf/428k0f3hbqvdx4.pdf


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## System (15 October 2015)

On October 15th, 2015, Hastings Rare Metals Limited changed its name to Hastings Technology Metals Limited.


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## greggles (13 June 2019)

HAS looks to have formed a pretty solid base at 14c and has just recently started to make

On Tuesday the company announced that it has signed an offtake MOU with SchaefflerAG, a global automotive and industrial supplier of high-precision components and systems in engine, transmission, and chassis applications, as well as rolling and plain bearing solutions for a large number of industrial applications, primarily focussed on the automotive industry.

Under the MOU the parties have outlined their intent to enter into a binding commercial offtake agreement within the next 6 months for the sale and purchase of Mixed Rare Earth Carbonate (MREC), which will be produced from Yangibana, Western Australia.

Any commercial offtake contract is contingent on Hastings starting operations and production of MREC from the Yangibana mine which is targeted to commence in 2H 2021. Hastings planned annual production capacity is 15,000 tonnes of MREC, which it will sell to offtake partners as well as on the spot market.

HAS recently completed a placement of 71,386,635 shares at $17c per share by way of institutional placement to raise $12,135,728. The proceeds of the placement were used to continue construction of the 380 room accommodation village at Yangibana, early infrastructure earth works on the mine site and progress payments for long lead time equipment currently on order, namely the rotary kiln and off-gas scrubber with the remainder used as working capital.

These recent events seems to have spurred on the HAS share price and in the last couple of weeks it has climbed back to a high of 19c, although it is currently trading at 17.5c. I think the bottom is in for Hastings and the Rare Earth connection is giving it some momentum.

One to watch for those following Rare Earth related companies.


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## Trav. (14 June 2019)

Nice work @greggles this one looks promising.

Popped up on my scan today and I like the look of it with a 52wk high of 26c (closed 17c today). If it breaks 18.5c then game on.


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## Trav. (20 August 2019)

some good news out today

https://www.asx.com.au/asxpdf/20190820/pdf/447mddrkvg9vt2.pdf


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## Trav. (21 August 2019)

Nice couple of days with the SP rising following the above announcement and a very nice close today.

Volume really good as well, so I expect some resistance around the 17c mark then hopefully it will have a go at 18c in the not to distant future.


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## barney (21 August 2019)

Trav. said:


> I expect some resistance around the 17c mark then hopefully it will have a go at 18c in the not to distant future.




I missed you guys commentary on this one … too many Stocks to watch 

Chart has worked quickly off the recent lows and a lot of capital was successfully raised at 17 cents … positive signs …. Accumulation on any retracements could prove financially rewarding I suspect … I need a bigger trading account


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## sptrawler (21 August 2019)

Reading Greggles post #11, I wonder if they will have enough capital to commence extraction and processing?
From Hawks posted pdf:
They need to construct open pit mine, ground water abstraction, onsite processing plant, tailings storage, access and haulage roads, accommodation and administration buildings and an airstrip.
That will take some serious money.
https://hastingstechmetals.com/investor-relations/announcements/

As you guys say, it could be one to watch.


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## Trav. (22 August 2019)

Looks like they have got a few bucks lined up and ready to go.

https://www.asx.com.au/asxpdf/20190430/pdf/444pdwcg68002c.pdf


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## sptrawler (22 August 2019)

Thanks Trav, that puts a different light on it, definitely one to put on the watch list. Cheers


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## Dona Ferentes (2 June 2020)

ducks lining up


> announcement to the market concerning the execution of an agreement with an offtake partner.



likely to open higher tomorrow


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## qldfrog (2 June 2020)

was selected on the 18th by my daily at 7.3c and was supposed to be bought by one weekly system on Monday but got into trading halt, so far nearly 60pc increase in 2 weeks so crossing finger will carry on


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## Dona Ferentes (24 August 2020)

bring out good news (CAPEX reduction)
Investor Presentation
SP uplift
Trading Halt ....
Capital Raising 
(you know the story)


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## Dona Ferentes (26 August 2020)

• Hastings has received firm commitments to raise $14.6 million (before costs) at $0.125 per share. 
• An additional $3.1 million to be raised via a Conditional Placement and a further $3.0 million to be raised from a fully underwritten  Share Purchase Plan.
• Strong interest received from existing shareholders and new institutional and sophisticated investors resulted in a significantly over subscribed Placement. 
• Funds will be used to advance the company’s flagship Yangibana Project


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## Garpal Gumnut (28 October 2020)

Dona Ferentes said:


> • Hastings has received firm commitments to raise $14.6 million (before costs) at $0.125 per share.
> • An additional $3.1 million to be raised via a Conditional Placement and a further $3.0 million to be raised from a fully underwritten  Share Purchase Plan.
> • Strong interest received from existing shareholders and new institutional and sophisticated investors resulted in a significantly over subscribed Placement.
> • Funds will be used to advance the company’s flagship Yangibana Project



HAS is in a bit of a trading range.
gg


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## Dona Ferentes (30 November 2020)

RAREing to go ... but has been for a while! 
- up over the last few days like most of them

_Australia’s Next Rare Earth Producer _
_
Up to 52% NdPr:TREO,  highest amongst peers 
Low Capex –A$449M; Production 15,000tpa MREC; equivalent to 3,400tpa NdPr oxides after separation 
13 years mine life (New resource estimation due in Q1 2021) 
World leading Beneficiation upgrading of up to 25x mine grade 
Strong Economics; NPV 2019: $549M, IRR 21% ; Payback 3.4 yrs (revision due Q1 2021)  _
_Perfectly timed to benefit from global NdPr demand growth:  6% CAGR 2020 -20_


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## greggles (12 January 2021)

Interesting stock this one. It has doubled in price in the last six months and appears to be consolidating in the 21c-23c range. Volume is high so buyers are currently absorbing all the selling. When the sellers back off, are we up for a share price spike north?

No price sensitive announcements since November. Director Foon Keong (Charles) Lew bought 4 million shares on 1 December for 12.5c a share.






Looks like some news is due soon. One for the watchlist.


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## Dona Ferentes (12 January 2021)

Quite a few claiming to be the Next RE producer, by whichever path. Selected excerpts from most recent Investor Presentations:

HAS: 30/11/20 







> Next RE producer (non-China) coming to production by 2023; construction targeted to start Q2 2021




ARU: 09/12/20 







> Only Australian NdPr focused project that is shovel ready. Construction ... 6 mths; Commission & Ramp-up ... 24 months




VML: 26/11/20 







> Operations commencing 2021; Aim for the production of a minimum of 5,000t contained REO by 2025




PM8: 01/10/20 







> ..bankable feasibility study for Longonjo, alongside a final investment decision the roll out of the mine development plan and main financing of the Project is well on track for the development of the first major rare earth mine in over a decade.




ASM: 09/01/21 







> Construction of Dubbo Project - mid 2012; Commissioning late 2023




PEK: 01/12/20 







> Solid framework agreement  will allow Export Credit Finance to be developed over the coming year, and then construction/start up over next 2 Years.




REE; 09/12/20 







> Strategy is to produce a saleable monazite concentrate to sell on an FOB / CIF basis to China ( _undefined timeline_)


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## wabullfrog (20 April 2021)

Hastings has signed an offtake agreement with Thyssenkrupp. They already had signed a Master Agreement with Schaeffler in June 2020.


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## Dona Ferentes (20 April 2021)

a _big boost to Hastings’ hopes of getting its $449 million Yangibana project off the ground._

- now capital needs to be raised


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## peter2 (24 March 2022)

Since April 21 the price of *HAS* has been rising slowly. Bought some today on spec (gutfeel) as I notice that many other rare earth stocks (*ARR, ARU, IXR, PEK, REE, VML*) are rallying higher quite strongly. *HAS* may catch up soon.


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## Dona Ferentes (28 March 2022)

HASTINGS RAISES* A$40 MILLION* IN STRATEGIC PLACEMENT

Key Highlights:
• _Share placement to Melbourne based L1 Capital, the Company’s largest shareholder _
_• L1 Capital has been a long-term investor in the rare earths and battery minerals sectors with a track record of successful investment in natural resources  
• L1 Capital’s shareholding increased to 15.15% of enlarged capital base following the Placement  
• Placement proceeds will be used to accelerate key workstreams, long lead equipment order and mine site works  _
_• Hastings will have a cash balance of $131 million upon settlement of the Placement_
  __________________________________________________
price of $0.25 per share, representing a 5.7% discount to the last traded price.Also, a 1 for 2 free-attaching unlisted option with an exercise price of $0.325 and an expiry date two years from the date of issue.



> _As outlined in our recent updated project economics announcement, we are well advanced in discussions with a range of funding partners in finalising the appropriate capital structure that best positions the Company for bringing Yangibana into production by 2024. _


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## Dona Ferentes (23 June 2022)

cleaning up the structure of ownership.

• _Hastings to acquire Cadence Minerals Plc 30% interest in Yangibana JV tenements for A$9 million to be satisfied by the issue of fully paid ordinary Hastings shares. 
• Following the acquisition Hastings will have 100% interest across the entire Yangibana rare earth tenement package. 
• Acquisition includes 2.34Mt of Mineral Resources and 0.73Mt of Ore Reserves.   
• Acquisition adds one year of production to the Yangibana rare earth project, increasing the life of mine to 16 years_


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## JohnDe (5 July 2022)

> Australia’s next rare earths producer Hastings Technology Metals Ltd (ASX: HAS) (Hastings or the Company) is pleased to announce that it has received significant interest from a number of different parties both in terms of debt and strategic equity (Strategic Financing).
> 
> 
> Hastings is looking to leverage its high grade NdPr project for exposure into downstream rare earths processing activities in Europe.
> ...


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## JohnDe (26 August 2022)

Interesting times ahead - 





			https://cdn-api.markitdigital.com/apiman-gateway/CommSec/commsec-node-api/1.0/event/document/1410-02559180-1AKLQ78M10D8LMRFBNJEMC1ADC/pdf?access_token=00071QuzDTBnsMMcGSgxDcgAd1WU


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## Dona Ferentes (26 August 2022)

And_ Andrew Forrest _at it _again, via his Private Company _*Wyloo*

_Agreement to acquire strategic shareholding in Neo Performance Materials and cornerstone investment in Hastings by Wyloo Metals_

*Highlights *

Hastings to acquire a 22.1% strategic shareholding in Neo Performance Materials Inc., a leading global rare earth processing and advanced permanent magnets producer listed on the TSX.    
The acquisition is intended to be funded by a A$150 million cornerstone investment in Hastings by Wyloo Metals, through the issuance of secured, redeemable, exchangeable notes.    
The proposed acquisition provides Hastings with a strategic stake in Neo and exposure to the global downstream processing of rare earth materials into magnets.    
_*Neo *is a leading producer of NdFeB magnets and rare earth materials globally, uniquely positioned as the owner of the only operating commercial rare earth separation and rare metals facility in Europe_


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## Dona Ferentes (5 September 2022)

TH ... necessary as the Company is in the process of a book build in relation to a capital raising.


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## chuckyball (5 September 2022)

Dona Ferentes said:


> TH ... necessary as the Company is in the process of a book build in relation to a capital raising.



I would have thought Hastings near neighbours Dreadnought Resources would have done better today releasing some more good drilling results but currently down 10%.  LNR not much better...


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## Dona Ferentes (7 September 2022)

_Placement to Accelerate Development of the Yangibana Rare Earths Project_

*Highlights *
• Firm commitments received for a* A$110 **million *two-tranche Placement. Tranche 1 of the Placement raised A$67 million and tranche two of the Placement, which is subject to shareholder approval, is set to raise A$43 million.
• Strong demand received from high-quality Australian and international institutional investors, and existing shareholders, providing a strong endorsement for the Yangibana Rare Earths Project and Hastings’ development pathway.
• _*SPP *_for all eligible existing shareholders to raise up to A$10 million (before costs) to open on Wednesday, 14 September 2022 at the same price as the Placement (*A$4.40 per share*).


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## JohnDe (7 September 2022)

Dona Ferentes said:


> _Placement to Accelerate Development of the Yangibana Rare Earths Project_
> 
> *Highlights *
> • Firm commitments received for a* A$110 **million *two-tranche Placement. Tranche 1 of the Placement raised A$67 million and tranche two of the Placement, which is subject to shareholder approval, is set to raise A$43 million.
> ...




The market didn't like it.


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## peter2 (7 September 2022)

I wouldn't assume that yet. The market has merely removed the premium in the SPP (price 4.40). The real test starts now. Can they raise capital when there's little to no premium? The insto money is committed while the retail amount is only one tenth the amount of the instos. Most retail short falls are taken up by instos any way. 

The spp should provide support for the price until the offer has ended. Once the offer ends the market will indicate what it thinks of the proposal in the market conditions at the time. 

*HAS* and it's project development are worth monitoring for a more timely trade opportunity.


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