HAS.ASX: Strategic $1 million Investment from Malaco Mining

Strategic $1 million Investment from Malaco Mining

Stock	Hastings Technology Metals Ltd (HAS.ASX)
Release Time	23 Jun 2026, 9:41 a.m.
Price Sensitive	Yes

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Hastings Secures $1 Million Investment from Malaco Mining

Key Points

Malaco Mining invests $1 million in Hastings Technology Metals
Investment to support rare earths strategy in Australia and Thailand
Placement shares issued at $0.365 per share
Malaco brings mining and processing expertise to Hastings

Full Summary

Hastings Technology Metals Limited (ASX: HAS) has announced a strategic investment of $1 million from Malaco Mining Sdn. Bhd., a leading Malaysian mining company. The investment is part of Hastings' long-term growth plans and will be executed through a placement of 2,739,726 fully paid ordinary shares at $0.365 per share. The proceeds will be used for general working capital and to advance Hastings' rare earths strategy in Australia and Thailand, including the development of its rare earths project pipeline and Thai-based hydromet plant. Malaco's investment provides Hastings with additional balance sheet flexibility and brings valuable experience in mining and minerals processing.

Guidance

Hastings plans to use the $1 million investment for general working capital.

Outlook

Hastings anticipates leveraging Malaco's expertise to develop its downstream processing capabilities.