shorters are crying
LONG for ARU & HAS!!!!!!!
"HIGHLIGHTS• Hastings Technology Metals Ltd and Baotou Sky Rock Rare Earth New Material Co., Ltd have signeda binding term sheet (“Term Sheet”) providing an integrated tolling and offtake arrangement(“Integrated Arrangement”) whereby rare earth concentrate from the Yangibana Project will be tolltreated in China to produce separated rare earth oxides• Under the Integrated Arrangement, Hastings will receive payment for rare earth oxides, less acapped multi-stage toll treatment fee, significantly increasing Hastings’ revenue and cash flowscompared to rare earth concentrate sales under the previous profit-sharing model• The pricing structure applies to a minimum of 10,000tpa of concentrate for a term of seven yearscommencing on the execution of the binding Term Sheet, with the option to extend for another fiveyears at Hastings’ election• The Integrated Arrangement with Baotou Sky Rock supplements the existing offtake contract withthyssenkrupp Materials Trading for two-thirds of annual production from the Yangibana Project• Negotiations are ongoing with other potential customers to conclude similar offtake arrangementsfor the remaining Yangibana Project volumes within the offtake contract with thyssenkrupp• The Integrated Arrangement and resulting improved economics and updated financial model arebeing used to support the Yangibana Project funding process, which is now in an advanced stage ofdetailed due diligence"
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