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HAS - Hastings Technology Metals

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There was a time that I thought HAS was going to go into my portfolio, but that changes a while ago. HAS have been touting their wares and reputation as the next big Rare Earths supplier for the world, and so they should, but so are their competitors.
 
With REE stocks undergoing renewed interest, and offtake being signed, the spectre of previous REE rallies, in ARU, LYC, HAS, even ASM, from earlier decades looms large.

Find resource, prove up, raise capital, seek end users, develop processing pathway .... long, long lead times.

Since listing:
Screenshot_20230411-101059_CommSec.jpg
 
Good monning
HAS coping another smack today (01/06/23) from yesterday's hammering. SP down 13.24% at time of this post.
Opened at $1.73 and taken a dive.

Might have something to do with requiring $320 million in funding support after a blow-out in the cost of building Yangibana rare earths project. HAS, for mine, has already received support with respect to Northern Australian Infrastructure Fund and Export Finance Australia. More due diligence required re: financials.

Total project capital cost is now estimated at $948m, with the Stage 1 component being $470m (a 40% increase to the estimate from 2020/21

Not holding.
Have a very nice day.

Kind regards
rcw1
 

Attachments

  • Corporate-Presentation---Staged-Development-Strategy.PDF
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Sean K said:
Probably good to start down and make a run from July onwards. Anything 'rare' and 'battery' related is in the toilet right now.
Click to expand...
Yes I agree with that cunning plan Mr @Sean K :wheniwasaboy:

I don't actually hold any HAS but do hold quite a lot of PRS (also Rare Earths and doing better than many others recently)

The old strategy of "accumulating" stocks with potential when the market is in an unfavorable part of the cycle is underestimated in my humble opinion. It does require patience to handle drawdown when things go wrong of course, so not for everyone. (Especially with Specs):nailbiting:
 
@debtfree HAS yearly comp pick (March)

SP has not followed through from the mid month spike. 60c needs to hold in the short term. Not much news to report other than a couple of "Substantial Holders" announcements

1709213335369.png

1709213375850.png
 
barney said:
Still on the downward trend ... but is that a potential bottom I see forming
Click to expand...
HAS sting

Screenshot_20240327-112421_CommSec.jpg

.
RENOUNCEABLE RIGHTS ISSUE TO SUPPORT YANGIBANA PROJECT DEVELOPMENT PATHWAY

HIGHLIGHTS
• Hastings is undertaking a pro-rata renounceable rights issue to raise up to $22.15 million (before costs)
o New Shares to be priced at $0.36 per share with a 1-for-3 attaching listed option with an exercise price of $0.50 per share and expiry date two years post the issue date
o Eligible Shareholders who have subscribed for their entitlement in full may also apply for New Shares in addition to their entitlement on the same terms under the Shortfall Offer (to the extent that there is shortfall available)
• Hastings Executive Chairman, Board and Key Management Personnel intend to participate in the Rights Issue
• Proceeds from the Rights Issue will contribute to working capital and ongoing development workstreams for the Yangibana Rare Earths Project, including the completion of project funding
 
Dona Ferentes said:
HIGHLIGHTS • Hastings is undertaking a pro-rata renounceable rights issue to raise up to $22.15 million (before costs)
o New Shares to be priced at $0.36 per share with a 1-for-3 attaching listed option with an exercise price of $0.50 per share and expiry date two years post the issue date
Click to expand...

CR at a 35-40% discount to the recent SP ....... I guess management think they are helping current SH by offering them cheap shares.

They obviously dont care too much about shorter term SP gyrations, or they dont understand how trading works.

Selloff as expected.

1711507795613.png
 
barney said:
CR at a 35-40% discount to the recent SP ....... I guess management think they are helping current SH by offering them cheap shares.

They obviously dont care too much about shorter term SP gyrations, or they dont understand how trading works.

Selloff as expected.
Click to expand...
they had 40 mill at end Dec, raise another 20. how much is needed in total , debt n equity; 1 bill? Seems very strange.
 
HAS is one of my 4 "yearly" comp picks. (April update thank you @debtfree)

Prospectus for the recently announced cap raise has been sent out. See time table below. The SP continued its immediate fall post announcement last month. Currently around 38 cps

L 1 Capital have reduced their holding by a bit over 2 million shares which no doubt helped fuel the recent SP drop.

It will be interesting how the stock behaves once the CR dust settles.

1712617107792.png

1712617151682.png
 
Yearly comp pick (thanks @debtfree )

The Chart says it all ..... Been a long steady fall from grace. Recent Cap raise at 36 cents looks expensive now as well.

Not sure what the catalyst will be to see this turn around.

1716773961735.png


Even recent good news did little to stem the current SP fall. Market cap is now only $44M with less than 200M SOI. It should turn at some point.

1716774140221.png
 
System said:
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).
Click to expand...
discounting the earlier pre 2011 period, HAS has managed to disappoint several times

Screenshot_20240601-145443_CommSec.jpg
 

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