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What is MM’s view on Hastings Technology Metals (HAS)?

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What is MM’s view on Hastings Technology Metals (HAS)?

Hi James, Could you please give your view on HAS? I am wondering why there hasn't been much interest in this company. Thanks. Jacky

Answer

Hi Jacky,

This $300m company has an interesting group of rare-earth assets attracting the attention of notable investors, but it will be a long development time horizon to get them operational & earning $$. They do own a large stake in Neo Performance Materials (NEO) listed in Canada (~$150m), however the purchase was essentially financed by Andrew Forrest via Wyloo.

While Government support will help with development financing, it seems likely that they’ll still need to raise further equity this year, and that could be the reason why the share price has been under such pressure. No doubt an interesting stock, with the right people behind it, but a long road ahead.

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Hastings Technology Metals Ltd (HAS)
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