Hastings Rare Metals to raise A$2.8m from rights issue

By Nilima Choudhury
Published: Wednesday, 28 May 2014

Although the company reported net losses in the second half of last year, the funds raised from the rights issue would help to further develop Hastings’ Western Australia prospects, one of which is yet to complete JORC testing.

ASX-listed Hastings Rare Metals Ltd, has issued over 74m new shares in a bid to advance its Western Australia-based rare earths projects.

A pro rata non-renounceable rights issue of new shares on the basis of two new shares for every five shares held by eligible shareholders on the record date,...

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