The Yangibana Project (the Project) is a significant Australian Rare Earths Project, containing substantial Neodymium and Praseodymium resources. The Project currently covers approximately 650 square kilometres. The Project is located in the Gascoyne region of Western Australia, some 250 kilometres north east of Carnarvon as shown in Figure 1 below.
Western Australia has a robust, internationally-competitive mining industry, and there is a low Sovereign Risk. The tenements are in good standing and the Company has good relationships with the local indigenous and European populations.
Figure 1: Hastings Project Location and Tenements
Hastings holds interests in tenements covering the whole of the prospective Gifford Creek Ferrocarbonatite Complex. In its own name and through wholly-owned subsidiaries Hastings holds:-
- 100% interest in 6 Mining Leases, 2 Prospecting Licences, 11 Exploration Licences, 5 General Purpose Leases and 13 Miscellaneous Licences.
- 70% interest in 3 Mining Leases, 8 Exploration Licences, and 2 General Purpose Leases.
These tenements are shown in Figure 1. The tenements in which Hastings holds a 70% interest are in joint-venture with UK-listed Cadence Minerals plc and Hastings carries all costs up to the decision to commission a Bankable Feasibility Study.
Hastings holds Mining, General Purpose and Exploration Leases on Yangibana covering a 650 sq km area.
- Total Yangibana area ~ 650 sq km
- 21 years Mining Leases Granted ~ 50 sq km
- Contain ~ 90% of JORC Resource
- Various Miscellaneous and General Purpose Leases granted
- Supporting infrastructure
- Application lodged for permits to commence mine construction and production plant.