Hastings raises funds for Yangibana

Rare earths developer Hastings Technology Metals will raise A$12-million through a share placement to institutional and sophisticated investors.

The company on Wednesday announced that it had received firm commitment for the placement of more than 83.9-million shares, priced at 14.3c each, as well as 41.9-million free attaching options on the basis of one option for every two new shares issued.