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Hastings Technology Metals Limited (ASX:HAS)

ALERT: Price-sensitive ASX Announcement for HAS
Current share price for HAS : $0.350 -0.215 (-38.05%)+
Announcement
Release
1 Dec 2025 8:54AM
Price at Release
$0.565
Full Release
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Summary
Hastings Technology Metals Limited has received shareholder approval for the divestment of its gold assets to Metal Bank Ltd (MBK) and the in-specie distribution of MBK shares to Hastings shareholders. The acquisition by MBK includes the Great Western Gold Pty Ltd, Ark Gold Pty Ltd, and Darcy's gold project. With this approval, all conditions precedent to the acquisition have been satisfied or waived, and the transaction is set for completion on 5 December 2025. In return for the gold assets, Hastings will receive 160,022,264 MBK Shares. Tim Gilbert, currently COO of Hastings, has been appointed as the CEO of MBK, and Charles Lew from Hastings will join the MBK Board. This strategic move aims to provide Hastings’ shareholders with liquidity and opportunities in both rare earth and gold resources.
Key Points
  • Divestment and in-specie distribution of MBK shares approved by Hastings shareholders.
  • All conditions for MBK's acquisition of Hastings gold assets satisfied or waived.
  • Completion of divestment scheduled for 5 December 2025.
  • Tim Gilbert appointed as CEO of MBK; Charles Lew to join MBK Board.
  • Hastings will receive 160,022,264 MBK Shares for gold assets.
  • Assets involved: Great Western Gold Pty Ltd, Ark Gold Pty Ltd, and Darcy's gold project.
  • Hastings' divestment strategy provides liquidity and dual resource investment in rare earths and gold.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.