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Hastings Technology Metals Limited (ASX:HAS)

ALERT: Price-sensitive ASX Announcement for HAS
Current share price for HAS : $0.285 -0.04 (-12.31%)+
Announcement
Release
23 Jun 2026 9:41AM
Price at Release
$0.325
Full Release
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Summary
Hastings Technology Metals Limited has secured a strategic $1 million investment from Malaco Mining Sdn. Bhd., a Malaysian mining company expanding into the rare earth sector. The investment will be executed through the placement of 2,739,726 ordinary shares at an issue price of $0.365 per share. The funds raised will be utilized to support Hastings' rare earth strategies in Australia and Thailand, including the advancement of its rare earth project pipeline and Thai-based hydromet plant. This investment will also enhance Hastings' balance sheet flexibility and leverage Malaco's expertise in mining and minerals processing to develop its downstream processing capabilities.
Key Points
  • Hastings Technology Metals Limited receives $1 million investment from Malaco Mining.
  • Malaco Mining is a Malaysian company expanding into rare earth mining.
  • The investment involves the placement of 2,739,726 shares at $0.365 per share.
  • Proceeds will support Hastings' rare earth strategies in Australia and Thailand.
  • The investment enhances Hastings' balance sheet flexibility.
  • Malaco's expertise in mining and minerals processing is seen as a valuable addition.
  • Hastings aims to develop its downstream processing capabilities.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.