Hastings Technology Metals (HAS) Q4 2025 TU earnings summary

Executive summary

• Entered a definitive 60:40 unincorporated joint venture with Wyloo for the Yangibana Rare Earths and Niobium Project, with Wyloo as manager and operator and an option to increase its stake to 70%.

• Cancelled all Exchangeable Notes owed to Wyloo and repaid debt early, significantly reducing financial obligations.

• Acquired rights to the Whiteheads Gold Project, expanding into a multi-commodity portfolio including rare earths, niobium, and gold.

• Vince Catania appointed as CEO, with a focus on advancing the Yangibana Project and broader asset portfolio.

Financial highlights

• $1.7 million in cash and cash equivalents as of 30 June 2025, with an additional $3.6 million raised in July, totaling $5.3 million.

• Quarterly cash outflows: $0.7 million for exploration and evaluation, $2.2 million for project development, and $153,499 for directors' fees and consulting.

• Net cash used in operating activities for the quarter: $(1.56) million; net cash used in investing activities: $(2.97) million.

• Loan facilities of $5.8 million drawn, with total financing facilities of $129.1 million at quarter end.

Outlook and guidance

• UJV with Wyloo expected to accelerate the pathway to Final Investment Decision and construction for Yangibana.

• Operating cash outflow expected to decrease as activity levels reduce in preparation for UJV completion.

• Ongoing capital raising anticipated to fund operations as required.