Australia's Hastings Technology Metals soars on MoU with Saudi Arabia

Hastings Technology Metals

28/11/2024 02:42

** Rare earths producer Hastings Technology Metals  HAS.AX 
soars as much as 21.4% to A$0.34; biggest intraday pct jump
since mid-August 2020
    ** HAS hits highest since July 23
    ** Co one of nine parties to sign MoU with Saudi Arabia's
Ministry of Investment (MISA)
    ** MOU part of Kingdom's 35 bln riyal ($9.32 bln) global
supply chain initiative
    ** Allows HAS to consider Saudi as potential location to
develop Hydrometallurgical Plant
    ** HAS and MISA will set up framework to create rare earths
downstream supply processing chain in Saudi
    ** More than 1.2 mln shares traded in stock's busiest
session since July 11
    ** YTD, HAS down 54%

($1 = A$1.5385)
($1 = 3.7550 riyals)

 (Reporting by Nichiket  Sunil)
 ((Nichiket.Sunil@thomsonreuters.com;))