Australia's Hastings partners with billionaire Andrew Forrest's Wyloo; shares rise

Hastings Technology Metals

20/02/2025 04:28

** Shares of Hastings Technology Metals  HAS.AX  rise 12.9%
to A$0.35
    ** Stock hits highest level since mid-July 2024
    ** The rare-earths developer to form a joint venture with
Australian billionaire Andrew Forrest's Wyloo Metals for the
Yangibana rare earths and niobium project in Western Australia
    ** Wyloo will own a 60% stake in the venture and manage and
operate the project, while HAS's unit Yangibana Jubilee will
hold the remaining stake
    ** About 1.9 million shares change hands, 19.8x the 30-day
average volume 
    ** Stock down 4.6% this year, as of last close

 (Reporting by Sherin Sunny in Bengaluru)
 ((Sherin.Sunny@thomsonreuters.com;))