# HAS: Annual Report to shareholders Canonical Atlas analysis: https://atlas-staging.minestarters.com/news/has-annual-report-to-shareholders--a9ffa0a8-316f-4b77-b2cf-bdb7037921fd Original source: https://www.asx.com.au/asx/v2/statistics/displayAnnouncement.do?display=pdf&idsId=03146806 Publisher: asx Original announcement: 2026-09-30T09:03:00.000Z Analysis by Minestarters Atlas Atlas analysis published: 2026-09-30T10:17:06.529Z Atlas analysis updated: 2026-09-30T10:17:06.529Z - Company: Hastings Technology Metals Ltd - Ticker: HAS - Exchange: ASX - Region: Western Australia - Primary commodity: Rare earths - Secondary commodities: Niobium, Tantalum, Yttrium, Zirconium - Document categories: Resource update, Agreement transaction, Metallurgy, Other - Extracted: 2026-09-30 10:17:07 UTC Narrative sentiment: 0.20 · Bullish ## Minestarters Atlas summary Hastings Technology Metals Ltd's annual report details a year of strategic repositioning, including the completion of an unincorporated joint venture for the Yangibana Rare Earths and Niobium Project, where Hastings retained a 40% interest. The company also entered into a binding agreement to acquire a 49% interest in a hydrometallurgical processing plant in Thailand to accelerate rare earth chloride production. While an updated Definitive Feasibility Study for Yangibana Stage 1 shows positive economics, Wyloo's decision to divest its 60% interest introduces uncertainty. The company reported a net loss of $5.1 million and issued a going concern warning due to the need for additional funding. Reasoning: The company has undergone significant strategic changes, including de-risking the Yangibana project through a JV and acquiring a mid-stream processing plant in Thailand, which are positive. However, the ongoing uncertainty regarding Wyloo's divestment and the company's need for further funding temper the overall positive outlook, as reflected in the net loss and going concern warning. - Positive factor: Strategic shift to mid-stream processing with Thailand plant acquisition - Positive factor: Yangibana JV completion reduces direct funding exposure - Positive factor: Updated DFS for Yangibana Stage 1 shows positive economics - Positive factor: Resource and reserve updates provide geological confidence - Negative factor: Wyloo's intent to divest its 60% Yangibana interest creates uncertainty - Negative factor: Company requires additional funding, leading to a going concern warning - Negative factor: Net loss for the year Low confidence — this extraction should be reviewed alongside the original source. Facts used in scoring: 61 ## Classification and evidence **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: All resource and reserve estimates are reported in accordance with the JORC Code \(2012\). Evidence · text > This MROR statement has been compiled and reported in accordance with the guidelines of the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’ \(“JORC Code \(2012\)”\). **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: Dr Louis Schürmann, a Fellow of the AusIMM, is named as the Competent Person responsible for the exploration results and resource/reserve information. Evidence · text > The information in this Annual Report that relates to exploration results for the Yangibana Rare Earths and Niobium Project \(“Yangibana”\), and other exploration activities is based on information compiled by Dr Louis Schürmann, a full-time employee of Hastings Technology Metals Ltd and a Fellow of the Australasian Institute of Mining and Metallurgy \(AusIMM Member No. 308067\). **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: The Yangibana Project includes Measured Resources for rare earths and niobium, indicating high confidence. Evidence · table > Measured Context: Category **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: The Yangibana Project includes Indicated Resources for rare earths and niobium, indicating good confidence. Evidence · table > Indicated Context: Category **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: Both Yangibana and Brockman projects include Inferred Resources, which are speculative. Evidence · table > Inferred Context: Category **Proven Reserve** Polarity: positive Definition: Measured Resource with demonstrated economic viability after applying modifying factors. Why it applies: The Yangibana Project includes Proved Reserves, representing the highest confidence in economic viability. Evidence · table > Proved Context: Category **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: The Yangibana Project includes Probable Reserves, representing good confidence in economic viability. Evidence · table > Probable Context: Category **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: Cut-off grades for the Yangibana and Brockman Mineral Resources are clearly stated. Evidence · text > Mineral Resources are reported at a 0.24% TREO cut-off grade. **All Inferred** Polarity: negative Definition: 100% of resource is Inferred category — very early stage, no engineering confidence. Why it applies: The Brockman Project Mineral Resource is entirely in the Inferred category. Evidence · table > Inferred Context: Category **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: The Yangibana Project Mineral Resource and Ore Reserve estimates have been updated. Evidence · text > Updated Definitive Feasibility Study **Strategic Expansion** Polarity: positive Story-specific tag Definition: No canonical definition is currently available. Why it applies: The acquisition of a 49% interest in a hydrometallurgical processing plant in Thailand represents a strategic expansion into mid-stream processing. Evidence · text > the Company entered into a binding term sheet with Enuo Holdings Pte Ltd to acquire a 49% interest in a hydrometallurgical processing plant at Kabin Buri, Thailand. The proposed investment enables Hastings to fast track and develop an earlier and more capital-efficient pathway into mixed rare earth chloride production using third-party feedstock **Uncertainty** Polarity: negative Story-specific tag Definition: No canonical definition is currently available. Why it applies: Wyloo's process to sell its 60% participating interest in the Yangibana Project introduces uncertainty regarding the timing of project development. Evidence · text > The process has introduced some uncertainty around the timing of the next phase of Project development. **Mill Route** Polarity: neutral Definition: Processing via mill or concentrator \(CIL, CIP, tank leach, flotation\). Why it applies: the document describes a flotation route \("flotation"\) ## Extracted facts Stored fact records: 60. Some facts used in scoring do not have a stored record. ## Resource Estimates (60) ### proven [Link to this fact](https://atlas-staging.minestarters.com/news/has-annual-report-to-shareholders--a9ffa0a8-316f-4b77-b2cf-bdb7037921fd#fact-resource-facts-0) Yangibana Project · rare\_earths #### Identity - Project: Yangibana Project - Commodity: rare\_earths - Region: australia\_wa - Reported Region: Western Australia - Ticker: HAS #### Resource scope - Estimate type: reserve - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Dr Louis Schürmann - Resource group id: resource:fef0c5eed9f06f47c3b5 #### Resource Data - Category: proven - Tonnes: 4890000 - Grade: 0.95 - Grade Unit: % TREO - Contained Metal: 46700 - Contained Unit: t #### Prior Estimate - Resource Date: 2023-02 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This is a high-confidence Proved Reserve for rare earths, indicating a well-defined and economically viable portion of the deposit, reported under JORC standards. Its novelty is low as it was reported in February 2023. - Positive factor: Proved Reserve category indicates high confidence in economic extraction - Positive factor: JORC Compliant reporting standard provides credibility Evidence · table > 0.95 Context: 4.89 #### Tags used in scoring **Proven Reserve** Polarity: positive Definition: Measured Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "proven" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 3.7 years before this release ### proven [Link to this fact](https://atlas-staging.minestarters.com/news/has-annual-report-to-shareholders--a9ffa0a8-316f-4b77-b2cf-bdb7037921fd#fact-resource-facts-1) Yangibana Project · rare\_earths #### Identity - Project: Yangibana Project - Commodity: rare\_earths - Region: australia\_wa - Reported Region: Western Australia - Ticker: HAS #### Resource scope - Estimate type: reserve - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Dr Louis Schürmann - Resource group id: resource:fef0c5eed9f06f47c3b5 #### Resource Data - Category: proven - Tonnes: 4890000 - Grade: 0.37 - Grade Unit: % Nd2O3+Pr6O11 #### Prior Estimate - Resource Date: 2023-02 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This is a high-confidence Proved Reserve for NdPr, indicating a well-defined and economically viable portion of the deposit, reported under JORC standards. Its novelty is low as it was reported in February 2023. - Positive factor: Proved Reserve category indicates high confidence in economic extraction - Positive factor: JORC Compliant reporting standard provides credibility Evidence · table > 0.37 Context: 4.89 #### Tags used in scoring **Proven Reserve** Polarity: positive Definition: Measured Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "proven" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 3.7 years before this release ### probable [Link to this fact](https://atlas-staging.minestarters.com/news/has-annual-report-to-shareholders--a9ffa0a8-316f-4b77-b2cf-bdb7037921fd#fact-resource-facts-2) Yangibana Project · rare\_earths #### Identity - Project: Yangibana Project - Commodity: rare\_earths - Region: australia\_wa - Reported Region: Western Australia - Ticker: HAS #### Resource scope - Estimate type: reserve - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Dr Louis Schürmann - Resource group id: resource:717b3e6987cae352d697 #### Resource Data - Category: probable - Tonnes: 16030000 - Grade: 0.88 - Grade Unit: % TREO - Contained Metal: 141435 - Contained Unit: t #### Prior Estimate - Resource Date: 2023-02 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This is a high-confidence Probable Reserve for rare earths, indicating a well-defined and economically viable portion of the deposit, reported under JORC standards. Its novelty is low as it was reported in February 2023. - Positive factor: Probable Reserve category indicates good confidence in economic extraction - Positive factor: JORC Compliant reporting standard provides credibility Evidence · table > 0.88 Context: 16.03 #### Tags used in scoring **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "probable" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 3.7 years before this release ### probable [Link to this fact](https://atlas-staging.minestarters.com/news/has-annual-report-to-shareholders--a9ffa0a8-316f-4b77-b2cf-bdb7037921fd#fact-resource-facts-3) Yangibana Project · rare\_earths #### Identity - Project: Yangibana Project - Commodity: rare\_earths - Region: australia\_wa - Reported Region: Western Australia - Ticker: HAS #### Resource scope - Estimate type: reserve - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Dr Louis Schürmann - Resource group id: resource:717b3e6987cae352d697 #### Resource Data - Category: probable - Tonnes: 16030000 - Grade: 0.32 - Grade Unit: % Nd2O3+Pr6O11 #### Prior Estimate - Resource Date: 2023-02 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This is a high-confidence Probable Reserve for NdPr, indicating a well-defined and economically viable portion of the deposit, reported under JORC standards. Its novelty is low as it was reported in February 2023. - Positive factor: Probable Reserve category indicates good confidence in economic extraction - Positive factor: JORC Compliant reporting standard provides credibility Evidence · table > 0.32 Context: 16.03 #### Tags used in scoring **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "probable" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 3.7 years before this release ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/has-annual-report-to-shareholders--a9ffa0a8-316f-4b77-b2cf-bdb7037921fd#fact-resource-facts-4) Yangibana Project · rare\_earths #### Identity - Project: Yangibana Project - Commodity: rare\_earths - Region: australia\_wa - Reported Region: Western Australia - Ticker: HAS #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Dr Louis Schürmann - Resource group id: resource:b97c34400a891105ce08 #### Resource Data - Category: measured - Tonnes: 4970000 - Grade: 0.96 - Grade Unit: % TREO - Contained Metal: 47721 - Contained Unit: t - Cutoff Grade: 0.24 - Cutoff Unit: % TREO #### Prior Estimate - Resource Date: 2023-10 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This Measured Resource for rare earths at Yangibana indicates a high level of geological confidence and is reported under JORC standards with a disclosed cut-off grade. Its novelty is low as it was reported in October 2023. - Positive factor: Measured Resource category indicates high geological confidence - Positive factor: JORC Compliant reporting standard provides credibility - Positive factor: Cut-off grade is clearly disclosed Evidence · table > 0.96 Context: 4.97 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 3.0 years before this release ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/has-annual-report-to-shareholders--a9ffa0a8-316f-4b77-b2cf-bdb7037921fd#fact-resource-facts-5) Yangibana Project · rare\_earths #### Identity - Project: Yangibana Project - Commodity: rare\_earths - Region: australia\_wa - Reported Region: Western Australia - Ticker: HAS #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Dr Louis Schürmann - Resource group id: resource:b97c34400a891105ce08 #### Resource Data - Category: measured - Tonnes: 4970000 - Grade: 0.37 - Grade Unit: % Nd2O3+Pr6O11 - Cutoff Grade: 0.24 - Cutoff Unit: % TREO #### Prior Estimate - Resource Date: 2023-10 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This Measured Resource for NdPr at Yangibana indicates a high level of geological confidence and is reported under JORC standards with a disclosed cut-off grade. Its novelty is low as it was reported in October 2023. - Positive factor: Measured Resource category indicates high geological confidence - Positive factor: JORC Compliant reporting standard provides credibility - Positive factor: Cut-off grade is clearly disclosed Evidence · table > 0.37 Context: 4.97 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 3.0 years before this release ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/has-annual-report-to-shareholders--a9ffa0a8-316f-4b77-b2cf-bdb7037921fd#fact-resource-facts-6) Yangibana Project · rare\_earths #### Identity - Project: Yangibana Project - Commodity: rare\_earths - Region: australia\_wa - Reported Region: Western Australia - Ticker: HAS #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Dr Louis Schürmann - Resource group id: resource:8bcb5ba0c3973d2d4514 #### Resource Data - Category: indicated - Tonnes: 19510000 - Grade: 0.88 - Grade Unit: % TREO - Contained Metal: 171936 - Contained Unit: t - Cutoff Grade: 0.24 - Cutoff Unit: % TREO #### Prior Estimate - Resource Date: 2023-10 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This Indicated Resource for rare earths at Yangibana indicates a good level of geological confidence and is reported under JORC standards with a disclosed cut-off grade. Its novelty is low as it was reported in October 2023. - Positive factor: Indicated Resource category indicates good geological confidence - Positive factor: JORC Compliant reporting standard provides credibility - Positive factor: Cut-off grade is clearly disclosed Evidence · table > 0.88 Context: 19.51 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 3.0 years before this release ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/has-annual-report-to-shareholders--a9ffa0a8-316f-4b77-b2cf-bdb7037921fd#fact-resource-facts-7) Yangibana Project · rare\_earths #### Identity - Project: Yangibana Project - Commodity: rare\_earths - Region: australia\_wa - Reported Region: Western Australia - Ticker: HAS #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Dr Louis Schürmann - Resource group id: resource:8bcb5ba0c3973d2d4514 #### Resource Data - Category: indicated - Tonnes: 19510000 - Grade: 0.32 - Grade Unit: % Nd2O3+Pr6O11 - Cutoff Grade: 0.24 - Cutoff Unit: % TREO #### Prior Estimate - Resource Date: 2023-10 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This Indicated Resource for NdPr at Yangibana indicates a good level of geological confidence and is reported under JORC standards with a disclosed cut-off grade. Its novelty is low as it was reported in October 2023. - Positive factor: Indicated Resource category indicates good geological confidence - Positive factor: JORC Compliant reporting standard provides credibility - Positive factor: Cut-off grade is clearly disclosed Evidence · table > 0.32 Context: 19.51 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 3.0 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/has-annual-report-to-shareholders--a9ffa0a8-316f-4b77-b2cf-bdb7037921fd#fact-resource-facts-8) Yangibana Project · rare\_earths #### Identity - Project: Yangibana Project - Commodity: rare\_earths - Region: australia\_wa - Reported Region: Western Australia - Ticker: HAS #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Dr Louis Schürmann - Resource group id: resource:c74f6181fb384ce3bd26 #### Resource Data - Category: inferred - Tonnes: 5450000 - Grade: 1.05 - Grade Unit: % TREO - Contained Metal: 57298 - Contained Unit: t - Cutoff Grade: 0.24 - Cutoff Unit: % TREO #### Prior Estimate - Resource Date: 2023-10 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This Inferred Resource for rare earths at Yangibana indicates a lower level of geological confidence but is reported under JORC standards with a disclosed cut-off grade. Its novelty is low as it was reported in October 2023. - Positive factor: JORC Compliant reporting standard provides credibility - Positive factor: Cut-off grade is clearly disclosed - Negative factor: Inferred Resource category indicates lower geological confidence Evidence · table > 1.05 Context: 5.45 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 3.0 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/has-annual-report-to-shareholders--a9ffa0a8-316f-4b77-b2cf-bdb7037921fd#fact-resource-facts-9) Yangibana Project · rare\_earths #### Identity - Project: Yangibana Project - Commodity: rare\_earths - Region: australia\_wa - Reported Region: Western Australia - Ticker: HAS #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Dr Louis Schürmann - Resource group id: resource:c74f6181fb384ce3bd26 #### Resource Data - Category: inferred - Tonnes: 5450000 - Grade: 0.31 - Grade Unit: % Nd2O3+Pr6O11 - Cutoff Grade: 0.24 - Cutoff Unit: % TREO #### Prior Estimate - Resource Date: 2023-10 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This Inferred Resource for NdPr at Yangibana indicates a lower level of geological confidence but is reported under JORC standards with a disclosed cut-off grade. Its novelty is low as it was reported in October 2023. - Positive factor: JORC Compliant reporting standard provides credibility - Positive factor: Cut-off grade is clearly disclosed - Negative factor: Inferred Resource category indicates lower geological confidence Evidence · table > 0.31 Context: 5.45 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 3.0 years before this release ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/has-annual-report-to-shareholders--a9ffa0a8-316f-4b77-b2cf-bdb7037921fd#fact-resource-facts-10) Yangibana Project · niobium #### Identity - Project: Yangibana Project - Commodity: niobium - Region: australia\_wa - Reported Region: Western Australia - Ticker: HAS #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Dr Louis Schürmann - Resource group id: resource:98e0ef29536a65fa91c7 #### Resource Data - Category: measured - Tonnes: 2370000 - Grade: 1035 - Grade Unit: ppm Nb2O5 - Contained Metal: 2251 - Contained Unit: t #### Prior Estimate - Resource Date: 2024-09 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This Measured Resource for niobium at Yangibana indicates a high level of geological confidence and is reported under JORC standards. Its novelty is low as it was reported in September 2024. - Positive factor: Measured Resource category indicates high geological confidence - Positive factor: JORC Compliant reporting standard provides credibility Evidence · table > 1,035 Context: 2.37 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 2.1 years before this release ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/has-annual-report-to-shareholders--a9ffa0a8-316f-4b77-b2cf-bdb7037921fd#fact-resource-facts-11) Yangibana Project · niobium #### Identity - Project: Yangibana Project - Commodity: niobium - Region: australia\_wa - Reported Region: Western Australia - Ticker: HAS #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Dr Louis Schürmann - Resource group id: resource:8aa3af46fa02f28497b5 #### Resource Data - Category: indicated - Tonnes: 4360000 - Grade: 2995 - Grade Unit: ppm Nb2O5 - Contained Metal: 13050 - Contained Unit: t #### Prior Estimate - Resource Date: 2024-09 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This Indicated Resource for niobium at Yangibana indicates a good level of geological confidence and is reported under JORC standards. Its novelty is low as it was reported in September 2024. - Positive factor: Indicated Resource category indicates good geological confidence - Positive factor: JORC Compliant reporting standard provides credibility Evidence · table > 2,995 Context: 4.36 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 2.1 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/has-annual-report-to-shareholders--a9ffa0a8-316f-4b77-b2cf-bdb7037921fd#fact-resource-facts-12) Yangibana Project · niobium #### Identity - Project: Yangibana Project - Commodity: niobium - Region: australia\_wa - Reported Region: Western Australia - Ticker: HAS #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Dr Louis Schürmann - Resource group id: resource:f9f79e5509ebff08eb9b #### Resource Data - Category: inferred - Tonnes: 10000 - Grade: 1435 - Grade Unit: ppm Nb2O5 - Contained Metal: 20 - Contained Unit: t #### Prior Estimate - Resource Date: 2024-09 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This Inferred Resource for niobium at Yangibana indicates a lower level of geological confidence and a very small tonnage, reported under JORC standards. Its novelty is low as it was reported in September 2024. - Positive factor: JORC Compliant reporting standard provides credibility - Negative factor: Inferred Resource category indicates lower geological confidence - Negative factor: Very small tonnage for this category Evidence · table > 1,435 Context: 0.01 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 2.1 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/has-annual-report-to-shareholders--a9ffa0a8-316f-4b77-b2cf-bdb7037921fd#fact-resource-facts-13) Brockman Project · rare\_earths #### Identity - Project: Brockman Project - Commodity: rare\_earths - Region: australia\_wa - Reported Region: Western Australia - Ticker: HAS #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Dr Louis Schürmann - Resource group id: resource:58329f548e86e5659304 #### Resource Data - Category: inferred - Tonnes: 41600000 - Grade: 0.2 - Grade Unit: % TREO - Cutoff Grade: 700 - Cutoff Unit: ppm Nb2O5 #### Prior Estimate - Resource Date: 2021-01 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This Inferred Resource for rare earths at Brockman has a large tonnage but is entirely in the Inferred category, indicating low geological confidence. It is reported under JORC standards with a disclosed cut-off grade. Its novelty is low as it was updated in January 2021. - Positive factor: Large tonnage for an Inferred Resource - Positive factor: JORC Compliant reporting standard provides credibility - Positive factor: Cut-off grade is clearly disclosed - Negative factor: All Inferred category indicates low geological confidence Evidence · table > 0.20 Context: 41.6 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 5.7 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/has-annual-report-to-shareholders--a9ffa0a8-316f-4b77-b2cf-bdb7037921fd#fact-resource-facts-14) Brockman Project · rare\_earths #### Identity - Project: Brockman Project - Commodity: rare\_earths - Region: australia\_wa - Reported Region: Western Australia - Ticker: HAS #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Dr Louis Schürmann - Resource group id: resource:58329f548e86e5659304 #### Resource Data - Category: inferred - Tonnes: 41600000 - Grade: 0.17 - Grade Unit: % HREO - Cutoff Grade: 700 - Cutoff Unit: ppm Nb2O5 #### Prior Estimate - Resource Date: 2021-01 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This Inferred Resource for heavy rare earth oxides at Brockman has a large tonnage but is entirely in the Inferred category, indicating low geological confidence. It is reported under JORC standards with a disclosed cut-off grade. Its novelty is low as it was updated in January 2021. - Positive factor: Large tonnage for an Inferred Resource - Positive factor: JORC Compliant reporting standard provides credibility - Positive factor: Cut-off grade is clearly disclosed - Negative factor: All Inferred category indicates low geological confidence Evidence · table > 0.17 Context: 41.6 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 5.7 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/has-annual-report-to-shareholders--a9ffa0a8-316f-4b77-b2cf-bdb7037921fd#fact-resource-facts-15) Brockman Project · niobium #### Identity - Project: Brockman Project - Commodity: niobium - Region: australia\_wa - Reported Region: Western Australia - Ticker: HAS #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Dr Louis Schürmann - Resource group id: resource:58329f548e86e5659304 #### Resource Data - Category: inferred - Tonnes: 41600000 - Grade: 0.35 - Grade Unit: % Nb2O5 - Cutoff Grade: 700 - Cutoff Unit: ppm Nb2O5 #### Prior Estimate - Resource Date: 2021-01 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This Inferred Resource for niobium at Brockman has a large tonnage but is entirely in the Inferred category, indicating low geological confidence. It is reported under JORC standards with a disclosed cut-off grade. Its novelty is low as it was updated in January 2021. - Positive factor: Large tonnage for an Inferred Resource - Positive factor: JORC Compliant reporting standard provides credibility - Positive factor: Cut-off grade is clearly disclosed - Negative factor: All Inferred category indicates low geological confidence Evidence · table > 0.35 Context: 41.6 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 5.7 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/has-annual-report-to-shareholders--a9ffa0a8-316f-4b77-b2cf-bdb7037921fd#fact-resource-facts-16) Brockman Project · tantalum #### Identity - Project: Brockman Project - Commodity: tantalum - Region: australia\_wa - Reported Region: Western Australia - Ticker: HAS #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Dr Louis Schürmann - Resource group id: resource:58329f548e86e5659304 #### Resource Data - Category: inferred - Tonnes: 41600000 - Grade: 0.02 - Grade Unit: % Ta2O5 - Cutoff Grade: 700 - Cutoff Unit: ppm Nb2O5 #### Prior Estimate - Resource Date: 2021-01 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This Inferred Resource for tantalum at Brockman is entirely in the Inferred category, indicating low geological confidence, and has a low grade. It is reported under JORC standards with a disclosed cut-off grade. Its novelty is low as it was updated in January 2021. - Positive factor: JORC Compliant reporting standard provides credibility - Positive factor: Cut-off grade is clearly disclosed - Negative factor: All Inferred category indicates low geological confidence - Negative factor: Low grade for tantalum Evidence · table > 0.02 Context: 41.6 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 5.7 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/has-annual-report-to-shareholders--a9ffa0a8-316f-4b77-b2cf-bdb7037921fd#fact-resource-facts-17) Brockman Project · yttrium #### Identity - Project: Brockman Project - Commodity: yttrium - Region: australia\_wa - Reported Region: Western Australia - Ticker: HAS #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Dr Louis Schürmann - Resource group id: resource:58329f548e86e5659304 #### Resource Data - Category: inferred - Tonnes: 41600000 - Grade: 0.11 - Grade Unit: % Y2O3 - Cutoff Grade: 700 - Cutoff Unit: ppm Nb2O5 #### Prior Estimate - Resource Date: 2021-01 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This Inferred Resource for yttrium at Brockman is entirely in the Inferred category, indicating low geological confidence, and has a low grade. It is reported under JORC standards with a disclosed cut-off grade. Its novelty is low as it was updated in January 2021. - Positive factor: JORC Compliant reporting standard provides credibility - Positive factor: Cut-off grade is clearly disclosed - Negative factor: All Inferred category indicates low geological confidence - Negative factor: Low grade for yttrium Evidence · table > 0.11 Context: 41.6 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 5.7 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/has-annual-report-to-shareholders--a9ffa0a8-316f-4b77-b2cf-bdb7037921fd#fact-resource-facts-18) Brockman Project · zirconium #### Identity - Project: Brockman Project - Commodity: zirconium - Region: australia\_wa - Reported Region: Western Australia - Ticker: HAS #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Dr Louis Schürmann - Resource group id: resource:58329f548e86e5659304 #### Resource Data - Category: inferred - Tonnes: 41600000 - Grade: 0.86 - Grade Unit: % ZrO2 - Cutoff Grade: 700 - Cutoff Unit: ppm Nb2O5 #### Prior Estimate - Resource Date: 2021-01 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This Inferred Resource for zirconium at Brockman is entirely in the Inferred category, indicating low geological confidence. It is reported under JORC standards with a disclosed cut-off grade. Its novelty is low as it was updated in January 2021. - Positive factor: JORC Compliant reporting standard provides credibility - Positive factor: Cut-off grade is clearly disclosed - Negative factor: All Inferred category indicates low geological confidence Evidence · table > 0.86 Context: 41.6 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 5.7 years before this release ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/has-annual-report-to-shareholders--a9ffa0a8-316f-4b77-b2cf-bdb7037921fd#fact-resource-facts-19) Yangibana Project · rare\_earths #### Identity - Project: Yangibana Project - Commodity: rare\_earths - Region: australia\_wa - Reported Region: Western Australia - Ticker: HAS #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Dr Louis Schürmann - Resource group id: resource:ae2f68b3a99a0fc14759 - Deposit or zone: Bald Hill #### Resource Data - Category: measured - Tonnes: 3550000 - Grade: 0.82 - Grade Unit: % TREO - Contained Metal: 29136 - Contained Unit: t - Cutoff Grade: 0.24 - Cutoff Unit: % TREO #### Prior Estimate - Resource Date: 2022-10 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This Measured Resource for rare earths at Bald Hill indicates high geological confidence and is reported under JORC standards with a disclosed cut-off grade. Its novelty is low as it was reported in October 2022. - Positive factor: Measured Resource category indicates high geological confidence - Positive factor: JORC Compliant reporting standard provides credibility - Positive factor: Cut-off grade is clearly disclosed Evidence · table > 0.82 Context: 3.55 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 4.0 years before this release ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/has-annual-report-to-shareholders--a9ffa0a8-316f-4b77-b2cf-bdb7037921fd#fact-resource-facts-20) Yangibana Project · rare\_earths #### Identity - Project: Yangibana Project - Commodity: rare\_earths - Region: australia\_wa - Reported Region: Western Australia - Ticker: HAS #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Dr Louis Schürmann - Resource group id: resource:ae2f68b3a99a0fc14759 - Deposit or zone: Bald Hill #### Resource Data - Category: measured - Tonnes: 3550000 - Grade: 0.34 - Grade Unit: % Nd2O3+Pr6O11 - Cutoff Grade: 0.24 - Cutoff Unit: % TREO #### Prior Estimate - Resource Date: 2022-10 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This Measured Resource for NdPr at Bald Hill indicates high geological confidence and is reported under JORC standards with a disclosed cut-off grade. Its novelty is low as it was reported in October 2022. - Positive factor: Measured Resource category indicates high geological confidence - Positive factor: JORC Compliant reporting standard provides credibility - Positive factor: Cut-off grade is clearly disclosed Evidence · table > 0.34 Context: 3.55 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 4.0 years before this release ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/has-annual-report-to-shareholders--a9ffa0a8-316f-4b77-b2cf-bdb7037921fd#fact-resource-facts-21) Yangibana Project · rare\_earths #### Identity - Project: Yangibana Project - Commodity: rare\_earths - Region: australia\_wa - Reported Region: Western Australia - Ticker: HAS #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Dr Louis Schürmann - Resource group id: resource:1d9416f5c3ed125242c1 - Deposit or zone: Bald Hill #### Resource Data - Category: indicated - Tonnes: 5230000 - Grade: 0.75 - Grade Unit: % TREO - Contained Metal: 39290 - Contained Unit: t - Cutoff Grade: 0.24 - Cutoff Unit: % TREO #### Prior Estimate - Resource Date: 2022-10 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This Indicated Resource for rare earths at Bald Hill indicates good geological confidence and is reported under JORC standards with a disclosed cut-off grade. Its novelty is low as it was reported in October 2022. - Positive factor: Indicated Resource category indicates good geological confidence - Positive factor: JORC Compliant reporting standard provides credibility - Positive factor: Cut-off grade is clearly disclosed Evidence · table > 0.75 Context: 5.23 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 4.0 years before this release ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/has-annual-report-to-shareholders--a9ffa0a8-316f-4b77-b2cf-bdb7037921fd#fact-resource-facts-22) Yangibana Project · rare\_earths #### Identity - Project: Yangibana Project - Commodity: rare\_earths - Region: australia\_wa - Reported Region: Western Australia - Ticker: HAS #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Dr Louis Schürmann - Resource group id: resource:1d9416f5c3ed125242c1 - Deposit or zone: Bald Hill #### Resource Data - Category: indicated - Tonnes: 5230000 - Grade: 0.3 - Grade Unit: % Nd2O3+Pr6O11 - Cutoff Grade: 0.24 - Cutoff Unit: % TREO #### Prior Estimate - Resource Date: 2022-10 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This Indicated Resource for NdPr at Bald Hill indicates good geological confidence and is reported under JORC standards with a disclosed cut-off grade. Its novelty is low as it was reported in October 2022. - Positive factor: Indicated Resource category indicates good geological confidence - Positive factor: JORC Compliant reporting standard provides credibility - Positive factor: Cut-off grade is clearly disclosed Evidence · table > 0.30 Context: 5.23 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 4.0 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/has-annual-report-to-shareholders--a9ffa0a8-316f-4b77-b2cf-bdb7037921fd#fact-resource-facts-23) Yangibana Project · rare\_earths #### Identity - Project: Yangibana Project - Commodity: rare\_earths - Region: australia\_wa - Reported Region: Western Australia - Ticker: HAS #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Dr Louis Schürmann - Resource group id: resource:9a5b144039c12f1b508f - Deposit or zone: Bald Hill #### Resource Data - Category: inferred - Tonnes: 1170000 - Grade: 0.67 - Grade Unit: % TREO - Contained Metal: 7787 - Contained Unit: t - Cutoff Grade: 0.24 - Cutoff Unit: % TREO #### Prior Estimate - Resource Date: 2022-10 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This Inferred Resource for rare earths at Bald Hill indicates lower geological confidence but is reported under JORC standards with a disclosed cut-off grade. Its novelty is low as it was reported in October 2022. - Positive factor: JORC Compliant reporting standard provides credibility - Positive factor: Cut-off grade is clearly disclosed - Negative factor: Inferred Resource category indicates lower geological confidence Evidence · table > 0.67 Context: 1.17 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 4.0 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/has-annual-report-to-shareholders--a9ffa0a8-316f-4b77-b2cf-bdb7037921fd#fact-resource-facts-24) Yangibana Project · rare\_earths #### Identity - Project: Yangibana Project - Commodity: rare\_earths - Region: australia\_wa - Reported Region: Western Australia - Ticker: HAS #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Dr Louis Schürmann - Resource group id: resource:9a5b144039c12f1b508f - Deposit or zone: Bald Hill #### Resource Data - Category: inferred - Tonnes: 1170000 - Grade: 0.27 - Grade Unit: % Nd2O3+Pr6O11 - Cutoff Grade: 0.24 - Cutoff Unit: % TREO #### Prior Estimate - Resource Date: 2022-10 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This Inferred Resource for NdPr at Bald Hill indicates lower geological confidence but is reported under JORC standards with a disclosed cut-off grade. Its novelty is low as it was reported in October 2022. - Positive factor: JORC Compliant reporting standard provides credibility - Positive factor: Cut-off grade is clearly disclosed - Negative factor: Inferred Resource category indicates lower geological confidence Evidence · table > 0.27 Context: 1.17 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 4.0 years before this release ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/has-annual-report-to-shareholders--a9ffa0a8-316f-4b77-b2cf-bdb7037921fd#fact-resource-facts-25) Yangibana Project · rare\_earths #### Identity - Project: Yangibana Project - Commodity: rare\_earths - Region: australia\_wa - Reported Region: Western Australia - Ticker: HAS #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Dr Louis Schürmann - Resource group id: resource:03ab63c67c45b4361396 - Deposit or zone: Simon’s Find #### Resource Data - Category: indicated - Tonnes: 3140000 - Grade: 0.52 - Grade Unit: % TREO - Contained Metal: 16206 - Contained Unit: t - Cutoff Grade: 0.24 - Cutoff Unit: % TREO #### Prior Estimate - Resource Date: 2022-10 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This Indicated Resource for rare earths at Simon’s Find indicates good geological confidence and is reported under JORC standards with a disclosed cut-off grade. Its novelty is low as it was reported in October 2022. - Positive factor: Indicated Resource category indicates good geological confidence - Positive factor: JORC Compliant reporting standard provides credibility - Positive factor: Cut-off grade is clearly disclosed Evidence · table > 0.52 Context: 3.14 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 4.0 years before this release ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/has-annual-report-to-shareholders--a9ffa0a8-316f-4b77-b2cf-bdb7037921fd#fact-resource-facts-26) Yangibana Project · rare\_earths #### Identity - Project: Yangibana Project - Commodity: rare\_earths - Region: australia\_wa - Reported Region: Western Australia - Ticker: HAS #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Dr Louis Schürmann - Resource group id: resource:03ab63c67c45b4361396 - Deposit or zone: Simon’s Find #### Resource Data - Category: indicated - Tonnes: 3140000 - Grade: 0.27 - Grade Unit: % Nd2O3+Pr6O11 - Cutoff Grade: 0.24 - Cutoff Unit: % TREO #### Prior Estimate - Resource Date: 2022-10 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This Indicated Resource for NdPr at Simon’s Find indicates good geological confidence and is reported under JORC standards with a disclosed cut-off grade. Its novelty is low as it was reported in October 2022. - Positive factor: Indicated Resource category indicates good geological confidence - Positive factor: JORC Compliant reporting standard provides credibility - Positive factor: Cut-off grade is clearly disclosed Evidence · table > 0.27 Context: 3.14 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 4.0 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/has-annual-report-to-shareholders--a9ffa0a8-316f-4b77-b2cf-bdb7037921fd#fact-resource-facts-27) Yangibana Project · rare\_earths #### Identity - Project: Yangibana Project - Commodity: rare\_earths - Region: australia\_wa - Reported Region: Western Australia - Ticker: HAS #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Dr Louis Schürmann - Resource group id: resource:60356c5bd0bb51bf8313 - Deposit or zone: Simon’s Find #### Resource Data - Category: inferred - Tonnes: 50000 - Grade: 0.6 - Grade Unit: % TREO - Contained Metal: 295 - Contained Unit: t - Cutoff Grade: 0.24 - Cutoff Unit: % TREO #### Prior Estimate - Resource Date: 2022-10 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This Inferred Resource for rare earths at Simon’s Find indicates lower geological confidence and a very small tonnage, reported under JORC standards with a disclosed cut-off grade. Its novelty is low as it was reported in October 2022. - Positive factor: JORC Compliant reporting standard provides credibility - Positive factor: Cut-off grade is clearly disclosed - Negative factor: Inferred Resource category indicates lower geological confidence - Negative factor: Very small tonnage for this category Evidence · table > 0.60 Context: 0.05 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 4.0 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/has-annual-report-to-shareholders--a9ffa0a8-316f-4b77-b2cf-bdb7037921fd#fact-resource-facts-28) Yangibana Project · rare\_earths #### Identity - Project: Yangibana Project - Commodity: rare\_earths - Region: australia\_wa - Reported Region: Western Australia - Ticker: HAS #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Dr Louis Schürmann - Resource group id: resource:60356c5bd0bb51bf8313 - Deposit or zone: Simon’s Find #### Resource Data - Category: inferred - Tonnes: 50000 - Grade: 0.31 - Grade Unit: % Nd2O3+Pr6O11 - Cutoff Grade: 0.24 - Cutoff Unit: % TREO #### Prior Estimate - Resource Date: 2022-10 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This Inferred Resource for NdPr at Simon’s Find indicates lower geological confidence and a very small tonnage, reported under JORC standards with a disclosed cut-off grade. Its novelty is low as it was reported in October 2022. - Positive factor: JORC Compliant reporting standard provides credibility - Positive factor: Cut-off grade is clearly disclosed - Negative factor: Inferred Resource category indicates lower geological confidence - Negative factor: Very small tonnage for this category Evidence · table > 0.31 Context: 0.05 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 4.0 years before this release ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/has-annual-report-to-shareholders--a9ffa0a8-316f-4b77-b2cf-bdb7037921fd#fact-resource-facts-29) Yangibana Project · rare\_earths #### Identity - Project: Yangibana Project - Commodity: rare\_earths - Region: australia\_wa - Reported Region: Western Australia - Ticker: HAS #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Dr Louis Schürmann - Resource group id: resource:0d9423b4bb2137c7ec77 - Deposit or zone: Fraser’s #### Resource Data - Category: measured - Tonnes: 750000 - Grade: 1.25 - Grade Unit: % TREO - Contained Metal: 9407 - Contained Unit: t - Cutoff Grade: 0.24 - Cutoff Unit: % TREO #### Prior Estimate - Resource Date: 2022-10 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This Measured Resource for rare earths at Fraser’s indicates high geological confidence and is reported under JORC standards with a disclosed cut-off grade. Its novelty is low as it was reported in October 2022. - Positive factor: Measured Resource category indicates high geological confidence - Positive factor: JORC Compliant reporting standard provides credibility - Positive factor: Cut-off grade is clearly disclosed Evidence · table > 1.25 Context: 0.75 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 4.0 years before this release ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/has-annual-report-to-shareholders--a9ffa0a8-316f-4b77-b2cf-bdb7037921fd#fact-resource-facts-30) Yangibana Project · rare\_earths #### Identity - Project: Yangibana Project - Commodity: rare\_earths - Region: australia\_wa - Reported Region: Western Australia - Ticker: HAS #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Dr Louis Schürmann - Resource group id: resource:0d9423b4bb2137c7ec77 - Deposit or zone: Fraser’s #### Resource Data - Category: measured - Tonnes: 750000 - Grade: 0.53 - Grade Unit: % Nd2O3+Pr6O11 - Cutoff Grade: 0.24 - Cutoff Unit: % TREO #### Prior Estimate - Resource Date: 2022-10 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This Measured Resource for NdPr at Fraser’s indicates high geological confidence and is reported under JORC standards with a disclosed cut-off grade. Its novelty is low as it was reported in October 2022. - Positive factor: Measured Resource category indicates high geological confidence - Positive factor: JORC Compliant reporting standard provides credibility - Positive factor: Cut-off grade is clearly disclosed Evidence · table > 0.53 Context: 0.75 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 4.0 years before this release ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/has-annual-report-to-shareholders--a9ffa0a8-316f-4b77-b2cf-bdb7037921fd#fact-resource-facts-31) Yangibana Project · rare\_earths #### Identity - Project: Yangibana Project - Commodity: rare\_earths - Region: australia\_wa - Reported Region: Western Australia - Ticker: HAS #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Dr Louis Schürmann - Resource group id: resource:67071104f0c8f5a04b40 - Deposit or zone: Fraser’s #### Resource Data - Category: indicated - Tonnes: 1470000 - Grade: 0.75 - Grade Unit: % TREO - Contained Metal: 11001 - Contained Unit: t - Cutoff Grade: 0.24 - Cutoff Unit: % TREO #### Prior Estimate - Resource Date: 2022-10 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This Indicated Resource for rare earths at Fraser’s indicates good geological confidence and is reported under JORC standards with a disclosed cut-off grade. Its novelty is low as it was reported in October 2022. - Positive factor: Indicated Resource category indicates good geological confidence - Positive factor: JORC Compliant reporting standard provides credibility - Positive factor: Cut-off grade is clearly disclosed Evidence · table > 0.75 Context: 1.47 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 4.0 years before this release ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/has-annual-report-to-shareholders--a9ffa0a8-316f-4b77-b2cf-bdb7037921fd#fact-resource-facts-32) Yangibana Project · rare\_earths #### Identity - Project: Yangibana Project - Commodity: rare\_earths - Region: australia\_wa - Reported Region: Western Australia - Ticker: HAS #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Dr Louis Schürmann - Resource group id: resource:67071104f0c8f5a04b40 - Deposit or zone: Fraser’s #### Resource Data - Category: indicated - Tonnes: 1470000 - Grade: 0.32 - Grade Unit: % Nd2O3+Pr6O11 - Cutoff Grade: 0.24 - Cutoff Unit: % TREO #### Prior Estimate - Resource Date: 2022-10 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This Indicated Resource for NdPr at Fraser’s indicates good geological confidence and is reported under JORC standards with a disclosed cut-off grade. Its novelty is low as it was reported in October 2022. - Positive factor: Indicated Resource category indicates good geological confidence - Positive factor: JORC Compliant reporting standard provides credibility - Positive factor: Cut-off grade is clearly disclosed Evidence · table > 0.32 Context: 1.47 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 4.0 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/has-annual-report-to-shareholders--a9ffa0a8-316f-4b77-b2cf-bdb7037921fd#fact-resource-facts-33) Yangibana Project · rare\_earths #### Identity - Project: Yangibana Project - Commodity: rare\_earths - Region: australia\_wa - Reported Region: Western Australia - Ticker: HAS #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Dr Louis Schürmann - Resource group id: resource:8567443f05bc1d3cc584 - Deposit or zone: Fraser’s #### Resource Data - Category: inferred - Tonnes: 10000 - Grade: 0.6 - Grade Unit: % TREO - Contained Metal: 44 - Contained Unit: t - Cutoff Grade: 0.24 - Cutoff Unit: % TREO #### Prior Estimate - Resource Date: 2022-10 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This Inferred Resource for rare earths at Fraser’s indicates lower geological confidence and a very small tonnage, reported under JORC standards with a disclosed cut-off grade. Its novelty is low as it was reported in October 2022. - Positive factor: JORC Compliant reporting standard provides credibility - Positive factor: Cut-off grade is clearly disclosed - Negative factor: Inferred Resource category indicates lower geological confidence - Negative factor: Very small tonnage for this category Evidence · table > 0.60 Context: 0.01 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 4.0 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/has-annual-report-to-shareholders--a9ffa0a8-316f-4b77-b2cf-bdb7037921fd#fact-resource-facts-34) Yangibana Project · rare\_earths #### Identity - Project: Yangibana Project - Commodity: rare\_earths - Region: australia\_wa - Reported Region: Western Australia - Ticker: HAS #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Dr Louis Schürmann - Resource group id: resource:8567443f05bc1d3cc584 - Deposit or zone: Fraser’s #### Resource Data - Category: inferred - Tonnes: 10000 - Grade: 0.25 - Grade Unit: % Nd2O3+Pr6O11 - Cutoff Grade: 0.24 - Cutoff Unit: % TREO #### Prior Estimate - Resource Date: 2022-10 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This Inferred Resource for NdPr at Fraser’s indicates lower geological confidence and a very small tonnage, reported under JORC standards with a disclosed cut-off grade. Its novelty is low as it was reported in October 2022. - Positive factor: JORC Compliant reporting standard provides credibility - Positive factor: Cut-off grade is clearly disclosed - Negative factor: Inferred Resource category indicates lower geological confidence - Negative factor: Very small tonnage for this category Evidence · table > 0.25 Context: 0.01 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 4.0 years before this release ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/has-annual-report-to-shareholders--a9ffa0a8-316f-4b77-b2cf-bdb7037921fd#fact-resource-facts-35) Yangibana Project · rare\_earths #### Identity - Project: Yangibana Project - Commodity: rare\_earths - Region: australia\_wa - Reported Region: Western Australia - Ticker: HAS #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Dr Louis Schürmann - Resource group id: resource:737edee06086325a6139 - Deposit or zone: Auer #### Resource Data - Category: indicated - Tonnes: 3540000 - Grade: 0.93 - Grade Unit: % TREO - Contained Metal: 32796 - Contained Unit: t - Cutoff Grade: 0.24 - Cutoff Unit: % TREO #### Prior Estimate - Resource Date: 2022-10 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This Indicated Resource for rare earths at Auer indicates good geological confidence and is reported under JORC standards with a disclosed cut-off grade. Its novelty is low as it was reported in October 2022. - Positive factor: Indicated Resource category indicates good geological confidence - Positive factor: JORC Compliant reporting standard provides credibility - Positive factor: Cut-off grade is clearly disclosed Evidence · table > 0.93 Context: 3.54 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 4.0 years before this release ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/has-annual-report-to-shareholders--a9ffa0a8-316f-4b77-b2cf-bdb7037921fd#fact-resource-facts-36) Yangibana Project · rare\_earths #### Identity - Project: Yangibana Project - Commodity: rare\_earths - Region: australia\_wa - Reported Region: Western Australia - Ticker: HAS #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Dr Louis Schürmann - Resource group id: resource:737edee06086325a6139 - Deposit or zone: Auer #### Resource Data - Category: indicated - Tonnes: 3540000 - Grade: 0.32 - Grade Unit: % Nd2O3+Pr6O11 - Cutoff Grade: 0.24 - Cutoff Unit: % TREO #### Prior Estimate - Resource Date: 2022-10 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This Indicated Resource for NdPr at Auer indicates good geological confidence and is reported under JORC standards with a disclosed cut-off grade. Its novelty is low as it was reported in October 2022. - Positive factor: Indicated Resource category indicates good geological confidence - Positive factor: JORC Compliant reporting standard provides credibility - Positive factor: Cut-off grade is clearly disclosed Evidence · table > 0.32 Context: 3.54 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 4.0 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/has-annual-report-to-shareholders--a9ffa0a8-316f-4b77-b2cf-bdb7037921fd#fact-resource-facts-37) Yangibana Project · rare\_earths #### Identity - Project: Yangibana Project - Commodity: rare\_earths - Region: australia\_wa - Reported Region: Western Australia - Ticker: HAS #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Dr Louis Schürmann - Resource group id: resource:6bd69b9f1d2304b31eae - Deposit or zone: Auer #### Resource Data - Category: inferred - Tonnes: 1100000 - Grade: 0.76 - Grade Unit: % TREO - Contained Metal: 8297 - Contained Unit: t - Cutoff Grade: 0.24 - Cutoff Unit: % TREO #### Prior Estimate - Resource Date: 2022-10 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This Inferred Resource for rare earths at Auer indicates lower geological confidence but is reported under JORC standards with a disclosed cut-off grade. Its novelty is low as it was reported in October 2022. - Positive factor: JORC Compliant reporting standard provides credibility - Positive factor: Cut-off grade is clearly disclosed - Negative factor: Inferred Resource category indicates lower geological confidence Evidence · table > 0.76 Context: 1.10 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 4.0 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/has-annual-report-to-shareholders--a9ffa0a8-316f-4b77-b2cf-bdb7037921fd#fact-resource-facts-38) Yangibana Project · rare\_earths #### Identity - Project: Yangibana Project - Commodity: rare\_earths - Region: australia\_wa - Reported Region: Western Australia - Ticker: HAS #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Dr Louis Schürmann - Resource group id: resource:6bd69b9f1d2304b31eae - Deposit or zone: Auer #### Resource Data - Category: inferred - Tonnes: 1100000 - Grade: 0.24 - Grade Unit: % Nd2O3+Pr6O11 - Cutoff Grade: 0.24 - Cutoff Unit: % TREO #### Prior Estimate - Resource Date: 2022-10 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This Inferred Resource for NdPr at Auer indicates lower geological confidence but is reported under JORC standards with a disclosed cut-off grade. Its novelty is low as it was reported in October 2022. - Positive factor: JORC Compliant reporting standard provides credibility - Positive factor: Cut-off grade is clearly disclosed - Negative factor: Inferred Resource category indicates lower geological confidence Evidence · table > 0.24 Context: 1.10 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 4.0 years before this release ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/has-annual-report-to-shareholders--a9ffa0a8-316f-4b77-b2cf-bdb7037921fd#fact-resource-facts-39) Yangibana Project · rare\_earths #### Identity - Project: Yangibana Project - Commodity: rare\_earths - Region: australia\_wa - Reported Region: Western Australia - Ticker: HAS #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Dr Louis Schürmann - Resource group id: resource:fc7bccd598110ca40dcf - Deposit or zone: Yangibana #### Resource Data - Category: indicated - Tonnes: 1980000 - Grade: 0.71 - Grade Unit: % TREO - Contained Metal: 14034 - Contained Unit: t - Cutoff Grade: 0.24 - Cutoff Unit: % TREO #### Prior Estimate - Resource Date: 2022-10 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This Indicated Resource for rare earths at Yangibana indicates good geological confidence and is reported under JORC standards with a disclosed cut-off grade. Its novelty is low as it was reported in October 2022. - Positive factor: Indicated Resource category indicates good geological confidence - Positive factor: JORC Compliant reporting standard provides credibility - Positive factor: Cut-off grade is clearly disclosed Evidence · table > 0.71 Context: 1.98 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 4.0 years before this release ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/has-annual-report-to-shareholders--a9ffa0a8-316f-4b77-b2cf-bdb7037921fd#fact-resource-facts-40) Yangibana Project · rare\_earths #### Identity - Project: Yangibana Project - Commodity: rare\_earths - Region: australia\_wa - Reported Region: Western Australia - Ticker: HAS #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Dr Louis Schürmann - Resource group id: resource:fc7bccd598110ca40dcf - Deposit or zone: Yangibana #### Resource Data - Category: indicated - Tonnes: 1980000 - Grade: 0.34 - Grade Unit: % Nd2O3+Pr6O11 - Cutoff Grade: 0.24 - Cutoff Unit: % TREO #### Prior Estimate - Resource Date: 2022-10 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This Indicated Resource for NdPr at Yangibana indicates good geological confidence and is reported under JORC standards with a disclosed cut-off grade. Its novelty is low as it was reported in October 2022. - Positive factor: Indicated Resource category indicates good geological confidence - Positive factor: JORC Compliant reporting standard provides credibility - Positive factor: Cut-off grade is clearly disclosed Evidence · table > 0.34 Context: 1.98 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 4.0 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/has-annual-report-to-shareholders--a9ffa0a8-316f-4b77-b2cf-bdb7037921fd#fact-resource-facts-41) Yangibana Project · rare\_earths #### Identity - Project: Yangibana Project - Commodity: rare\_earths - Region: australia\_wa - Reported Region: Western Australia - Ticker: HAS #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Dr Louis Schürmann - Resource group id: resource:92272fa3dcfed2a0252c - Deposit or zone: Yangibana #### Resource Data - Category: inferred - Tonnes: 330000 - Grade: 0.64 - Grade Unit: % TREO - Contained Metal: 2146 - Contained Unit: t - Cutoff Grade: 0.24 - Cutoff Unit: % TREO #### Prior Estimate - Resource Date: 2022-10 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This Inferred Resource for rare earths at Yangibana indicates lower geological confidence but is reported under JORC standards with a disclosed cut-off grade. Its novelty is low as it was reported in October 2022. - Positive factor: JORC Compliant reporting standard provides credibility - Positive factor: Cut-off grade is clearly disclosed - Negative factor: Inferred Resource category indicates lower geological confidence Evidence · table > 0.64 Context: 0.33 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 4.0 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/has-annual-report-to-shareholders--a9ffa0a8-316f-4b77-b2cf-bdb7037921fd#fact-resource-facts-42) Yangibana Project · rare\_earths #### Identity - Project: Yangibana Project - Commodity: rare\_earths - Region: australia\_wa - Reported Region: Western Australia - Ticker: HAS #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Dr Louis Schürmann - Resource group id: resource:92272fa3dcfed2a0252c - Deposit or zone: Yangibana #### Resource Data - Category: inferred - Tonnes: 330000 - Grade: 0.31 - Grade Unit: % Nd2O3+Pr6O11 - Cutoff Grade: 0.24 - Cutoff Unit: % TREO #### Prior Estimate - Resource Date: 2022-10 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This Inferred Resource for NdPr at Yangibana indicates lower geological confidence but is reported under JORC standards with a disclosed cut-off grade. Its novelty is low as it was reported in October 2022. - Positive factor: JORC Compliant reporting standard provides credibility - Positive factor: Cut-off grade is clearly disclosed - Negative factor: Inferred Resource category indicates lower geological confidence Evidence · table > 0.31 Context: 0.33 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 4.0 years before this release ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/has-annual-report-to-shareholders--a9ffa0a8-316f-4b77-b2cf-bdb7037921fd#fact-resource-facts-43) Yangibana Project · rare\_earths #### Identity - Project: Yangibana Project - Commodity: rare\_earths - Region: australia\_wa - Reported Region: Western Australia - Ticker: HAS #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Dr Louis Schürmann - Resource group id: resource:f8881ee3d8f95e81e823 - Deposit or zone: Yangibana North #### Resource Data - Category: measured - Tonnes: 660000 - Grade: 1.39 - Grade Unit: % TREO - Contained Metal: 9179 - Contained Unit: t - Cutoff Grade: 0.24 - Cutoff Unit: % TREO #### Prior Estimate - Resource Date: 2022-10 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This Measured Resource for rare earths at Yangibana North indicates high geological confidence and is reported under JORC standards with a disclosed cut-off grade. Its novelty is low as it was reported in October 2022. - Positive factor: Measured Resource category indicates high geological confidence - Positive factor: JORC Compliant reporting standard provides credibility - Positive factor: Cut-off grade is clearly disclosed Evidence · table > 1.39 Context: 0.66 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 4.0 years before this release ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/has-annual-report-to-shareholders--a9ffa0a8-316f-4b77-b2cf-bdb7037921fd#fact-resource-facts-44) Yangibana Project · rare\_earths #### Identity - Project: Yangibana Project - Commodity: rare\_earths - Region: australia\_wa - Reported Region: Western Australia - Ticker: HAS #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Dr Louis Schürmann - Resource group id: resource:f8881ee3d8f95e81e823 - Deposit or zone: Yangibana North #### Resource Data - Category: measured - Tonnes: 660000 - Grade: 0.36 - Grade Unit: % Nd2O3+Pr6O11 - Cutoff Grade: 0.24 - Cutoff Unit: % TREO #### Prior Estimate - Resource Date: 2022-10 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This Measured Resource for NdPr at Yangibana North indicates high geological confidence and is reported under JORC standards with a disclosed cut-off grade. Its novelty is low as it was reported in October 2022. - Positive factor: Measured Resource category indicates high geological confidence - Positive factor: JORC Compliant reporting standard provides credibility - Positive factor: Cut-off grade is clearly disclosed Evidence · table > 0.36 Context: 0.66 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 4.0 years before this release ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/has-annual-report-to-shareholders--a9ffa0a8-316f-4b77-b2cf-bdb7037921fd#fact-resource-facts-45) Yangibana Project · rare\_earths #### Identity - Project: Yangibana Project - Commodity: rare\_earths - Region: australia\_wa - Reported Region: Western Australia - Ticker: HAS #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Dr Louis Schürmann - Resource group id: resource:ece603eef055bbf366bc - Deposit or zone: Yangibana North #### Resource Data - Category: indicated - Tonnes: 4150000 - Grade: 1.41 - Grade Unit: % TREO - Contained Metal: 58609 - Contained Unit: t - Cutoff Grade: 0.24 - Cutoff Unit: % TREO #### Prior Estimate - Resource Date: 2022-10 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This Indicated Resource for rare earths at Yangibana North indicates good geological confidence and is reported under JORC standards with a disclosed cut-off grade. Its novelty is low as it was reported in October 2022. - Positive factor: Indicated Resource category indicates good geological confidence - Positive factor: JORC Compliant reporting standard provides credibility - Positive factor: Cut-off grade is clearly disclosed Evidence · table > 1.41 Context: 4.15 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 4.0 years before this release ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/has-annual-report-to-shareholders--a9ffa0a8-316f-4b77-b2cf-bdb7037921fd#fact-resource-facts-46) Yangibana Project · rare\_earths #### Identity - Project: Yangibana Project - Commodity: rare\_earths - Region: australia\_wa - Reported Region: Western Australia - Ticker: HAS #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Dr Louis Schürmann - Resource group id: resource:ece603eef055bbf366bc - Deposit or zone: Yangibana North #### Resource Data - Category: indicated - Tonnes: 4150000 - Grade: 0.36 - Grade Unit: % Nd2O3+Pr6O11 - Cutoff Grade: 0.24 - Cutoff Unit: % TREO #### Prior Estimate - Resource Date: 2022-10 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This Indicated Resource for NdPr at Yangibana North indicates good geological confidence and is reported under JORC standards with a disclosed cut-off grade. Its novelty is low as it was reported in October 2022. - Positive factor: Indicated Resource category indicates good geological confidence - Positive factor: JORC Compliant reporting standard provides credibility - Positive factor: Cut-off grade is clearly disclosed Evidence · table > 0.36 Context: 4.15 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 4.0 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/has-annual-report-to-shareholders--a9ffa0a8-316f-4b77-b2cf-bdb7037921fd#fact-resource-facts-47) Yangibana Project · rare\_earths #### Identity - Project: Yangibana Project - Commodity: rare\_earths - Region: australia\_wa - Reported Region: Western Australia - Ticker: HAS #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Dr Louis Schürmann - Resource group id: resource:f7fa33fd0685ad82695b - Deposit or zone: Yangibana North #### Resource Data - Category: inferred - Tonnes: 970000 - Grade: 1.43 - Grade Unit: % TREO - Contained Metal: 13914 - Contained Unit: t - Cutoff Grade: 0.24 - Cutoff Unit: % TREO #### Prior Estimate - Resource Date: 2022-10 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This Inferred Resource for rare earths at Yangibana North indicates lower geological confidence but is reported under JORC standards with a disclosed cut-off grade. Its novelty is low as it was reported in October 2022. - Positive factor: JORC Compliant reporting standard provides credibility - Positive factor: Cut-off grade is clearly disclosed - Negative factor: Inferred Resource category indicates lower geological confidence Evidence · table > 1.43 Context: 0.97 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 4.0 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/has-annual-report-to-shareholders--a9ffa0a8-316f-4b77-b2cf-bdb7037921fd#fact-resource-facts-48) Yangibana Project · rare\_earths #### Identity - Project: Yangibana Project - Commodity: rare\_earths - Region: australia\_wa - Reported Region: Western Australia - Ticker: HAS #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Dr Louis Schürmann - Resource group id: resource:f7fa33fd0685ad82695b - Deposit or zone: Yangibana North #### Resource Data - Category: inferred - Tonnes: 970000 - Grade: 0.37 - Grade Unit: % Nd2O3+Pr6O11 - Cutoff Grade: 0.24 - Cutoff Unit: % TREO #### Prior Estimate - Resource Date: 2022-10 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This Inferred Resource for NdPr at Yangibana North indicates lower geological confidence but is reported under JORC standards with a disclosed cut-off grade. Its novelty is low as it was reported in October 2022. - Positive factor: JORC Compliant reporting standard provides credibility - Positive factor: Cut-off grade is clearly disclosed - Negative factor: Inferred Resource category indicates lower geological confidence Evidence · table > 0.37 Context: 0.97 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 4.0 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/has-annual-report-to-shareholders--a9ffa0a8-316f-4b77-b2cf-bdb7037921fd#fact-resource-facts-49) Yangibana Project · rare\_earths #### Identity - Project: Yangibana Project - Commodity: rare\_earths - Region: australia\_wa - Reported Region: Western Australia - Ticker: HAS #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Dr Louis Schürmann - Resource group id: resource:a0b803c1876b930b815c - Deposit or zone: Gossan #### Resource Data - Category: inferred - Tonnes: 250000 - Grade: 1.43 - Grade Unit: % TREO - Contained Metal: 3518 - Contained Unit: t - Cutoff Grade: 0.2 - Cutoff Unit: % Nd2O3+Pr6O11 #### Prior Estimate - Resource Date: 2022-10 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This Inferred Resource for rare earths at Gossan indicates lower geological confidence but is reported under JORC standards with a disclosed cut-off grade. Its novelty is low as it was reported in October 2022. - Positive factor: JORC Compliant reporting standard provides credibility - Positive factor: Cut-off grade is clearly disclosed - Negative factor: Inferred Resource category indicates lower geological confidence Evidence · table > 1.43 Context: 0.25 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 4.0 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/has-annual-report-to-shareholders--a9ffa0a8-316f-4b77-b2cf-bdb7037921fd#fact-resource-facts-50) Yangibana Project · rare\_earths #### Identity - Project: Yangibana Project - Commodity: rare\_earths - Region: australia\_wa - Reported Region: Western Australia - Ticker: HAS #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Dr Louis Schürmann - Resource group id: resource:a0b803c1876b930b815c - Deposit or zone: Gossan #### Resource Data - Category: inferred - Tonnes: 250000 - Grade: 0.35 - Grade Unit: % Nd2O3+Pr6O11 - Cutoff Grade: 0.2 - Cutoff Unit: % Nd2O3+Pr6O11 #### Prior Estimate - Resource Date: 2022-10 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This Inferred Resource for NdPr at Gossan indicates lower geological confidence but is reported under JORC standards with a disclosed cut-off grade. Its novelty is low as it was reported in October 2022. - Positive factor: JORC Compliant reporting standard provides credibility - Positive factor: Cut-off grade is clearly disclosed - Negative factor: Inferred Resource category indicates lower geological confidence Evidence · table > 0.35 Context: 0.25 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 4.0 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/has-annual-report-to-shareholders--a9ffa0a8-316f-4b77-b2cf-bdb7037921fd#fact-resource-facts-51) Yangibana Project · rare\_earths #### Identity - Project: Yangibana Project - Commodity: rare\_earths - Region: australia\_wa - Reported Region: Western Australia - Ticker: HAS #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Dr Louis Schürmann - Resource group id: resource:c83d6df273d6ebdba011 - Deposit or zone: Lion’s Ear #### Resource Data - Category: inferred - Tonnes: 710000 - Grade: 1.54 - Grade Unit: % TREO - Contained Metal: 10934 - Contained Unit: t - Cutoff Grade: 0.2 - Cutoff Unit: % Nd2O3+Pr6O11 #### Prior Estimate - Resource Date: 2022-10 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This Inferred Resource for rare earths at Lion’s Ear indicates lower geological confidence but is reported under JORC standards with a disclosed cut-off grade. Its novelty is low as it was reported in October 2022. - Positive factor: JORC Compliant reporting standard provides credibility - Positive factor: Cut-off grade is clearly disclosed - Negative factor: Inferred Resource category indicates lower geological confidence Evidence · table > 1.54 Context: 0.71 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 4.0 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/has-annual-report-to-shareholders--a9ffa0a8-316f-4b77-b2cf-bdb7037921fd#fact-resource-facts-52) Yangibana Project · rare\_earths #### Identity - Project: Yangibana Project - Commodity: rare\_earths - Region: australia\_wa - Reported Region: Western Australia - Ticker: HAS #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Dr Louis Schürmann - Resource group id: resource:c83d6df273d6ebdba011 - Deposit or zone: Lion’s Ear #### Resource Data - Category: inferred - Tonnes: 710000 - Grade: 0.39 - Grade Unit: % Nd2O3+Pr6O11 - Cutoff Grade: 0.2 - Cutoff Unit: % Nd2O3+Pr6O11 #### Prior Estimate - Resource Date: 2022-10 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This Inferred Resource for NdPr at Lion’s Ear indicates lower geological confidence but is reported under JORC standards with a disclosed cut-off grade. Its novelty is low as it was reported in October 2022. - Positive factor: JORC Compliant reporting standard provides credibility - Positive factor: Cut-off grade is clearly disclosed - Negative factor: Inferred Resource category indicates lower geological confidence Evidence · table > 0.39 Context: 0.71 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 4.0 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/has-annual-report-to-shareholders--a9ffa0a8-316f-4b77-b2cf-bdb7037921fd#fact-resource-facts-53) Yangibana Project · rare\_earths #### Identity - Project: Yangibana Project - Commodity: rare\_earths - Region: australia\_wa - Reported Region: Western Australia - Ticker: HAS #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Dr Louis Schürmann - Resource group id: resource:8746a3c480c708f10235 - Deposit or zone: Hook #### Resource Data - Category: inferred - Tonnes: 290000 - Grade: 1.52 - Grade Unit: % TREO - Contained Metal: 4393 - Contained Unit: t - Cutoff Grade: 0.2 - Cutoff Unit: % Nd2O3+Pr6O11 #### Prior Estimate - Resource Date: 2022-10 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This Inferred Resource for rare earths at Hook indicates lower geological confidence but is reported under JORC standards with a disclosed cut-off grade. Its novelty is low as it was reported in October 2022. - Positive factor: JORC Compliant reporting standard provides credibility - Positive factor: Cut-off grade is clearly disclosed - Negative factor: Inferred Resource category indicates lower geological confidence Evidence · table > 1.52 Context: 0.29 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 4.0 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/has-annual-report-to-shareholders--a9ffa0a8-316f-4b77-b2cf-bdb7037921fd#fact-resource-facts-54) Yangibana Project · rare\_earths #### Identity - Project: Yangibana Project - Commodity: rare\_earths - Region: australia\_wa - Reported Region: Western Australia - Ticker: HAS #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Dr Louis Schürmann - Resource group id: resource:8746a3c480c708f10235 - Deposit or zone: Hook #### Resource Data - Category: inferred - Tonnes: 290000 - Grade: 0.33 - Grade Unit: % Nd2O3+Pr6O11 - Cutoff Grade: 0.2 - Cutoff Unit: % Nd2O3+Pr6O11 #### Prior Estimate - Resource Date: 2022-10 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This Inferred Resource for NdPr at Hook indicates lower geological confidence but is reported under JORC standards with a disclosed cut-off grade. Its novelty is low as it was reported in October 2022. - Positive factor: JORC Compliant reporting standard provides credibility - Positive factor: Cut-off grade is clearly disclosed - Negative factor: Inferred Resource category indicates lower geological confidence Evidence · table > 0.33 Context: 0.29 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 4.0 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/has-annual-report-to-shareholders--a9ffa0a8-316f-4b77-b2cf-bdb7037921fd#fact-resource-facts-55) Yangibana Project · rare\_earths #### Identity - Project: Yangibana Project - Commodity: rare\_earths - Region: australia\_wa - Reported Region: Western Australia - Ticker: HAS #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Dr Louis Schürmann - Resource group id: resource:f83f8df14ad5e77aaf81 - Deposit or zone: Kane’s Gossan #### Resource Data - Category: inferred - Tonnes: 570000 - Grade: 1.04 - Grade Unit: % TREO - Contained Metal: 5970 - Contained Unit: t - Cutoff Grade: 0.2 - Cutoff Unit: % Nd2O3+Pr6O11 #### Prior Estimate - Resource Date: 2022-10 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This Inferred Resource for rare earths at Kane’s Gossan indicates lower geological confidence but is reported under JORC standards with a disclosed cut-off grade. Its novelty is low as it was reported in October 2022. - Positive factor: JORC Compliant reporting standard provides credibility - Positive factor: Cut-off grade is clearly disclosed - Negative factor: Inferred Resource category indicates lower geological confidence Evidence · table > 1.04 Context: 0.57 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 4.0 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/has-annual-report-to-shareholders--a9ffa0a8-316f-4b77-b2cf-bdb7037921fd#fact-resource-facts-56) Yangibana Project · rare\_earths #### Identity - Project: Yangibana Project - Commodity: rare\_earths - Region: australia\_wa - Reported Region: Western Australia - Ticker: HAS #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Dr Louis Schürmann - Resource group id: resource:f83f8df14ad5e77aaf81 - Deposit or zone: Kane’s Gossan #### Resource Data - Category: inferred - Tonnes: 570000 - Grade: 0.29 - Grade Unit: % Nd2O3+Pr6O11 - Cutoff Grade: 0.2 - Cutoff Unit: % Nd2O3+Pr6O11 #### Prior Estimate - Resource Date: 2022-10 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This Inferred Resource for NdPr at Kane’s Gossan indicates lower geological confidence but is reported under JORC standards with a disclosed cut-off grade. Its novelty is low as it was reported in October 2022. - Positive factor: JORC Compliant reporting standard provides credibility - Positive factor: Cut-off grade is clearly disclosed - Negative factor: Inferred Resource category indicates lower geological confidence Evidence · table > 0.29 Context: 0.57 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 4.0 years before this release ### Fact 58 [Link to this fact](https://atlas-staging.minestarters.com/news/has-annual-report-to-shareholders--a9ffa0a8-316f-4b77-b2cf-bdb7037921fd#fact-resource-facts-57) Yangibana Rare Earths and Niobium Project #### Identity - Project: Yangibana Rare Earths and Niobium Project - Ticker: HAS #### Resource scope - Resource group id: resource:cd99f5aec8cca3c529ad #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: The completion of the Yangibana JV is a highly material and positive development, significantly de-risking the project for Hastings by reducing its funding exposure and transferring management to Wyloo. This is a novel and strategic move for the company. - Positive factor: Significant reduction in direct funding exposure for Hastings - Positive factor: JV partner \(Wyloo\) appointed as manager and operator, leveraging their expertise - Positive factor: Cancellation of Exchangeable Notes removes a significant liability from the balance sheet Evidence · text > The unincorporated joint venture with Wyloo over the Yangibana Rare Earths and Niobium Project was completed in September 2025, with Hastings retaining a 40% participating interest and Wyloo holding the remaining 60% interest and was appointed manager and operator. This reduced the Group’s direct exposure to the future funding requirements of Yangibana while preserving a substantial interest in the Project. #### Tags used in scoring **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### Fact 59 [Link to this fact](https://atlas-staging.minestarters.com/news/has-annual-report-to-shareholders--a9ffa0a8-316f-4b77-b2cf-bdb7037921fd#fact-resource-facts-58) Whiteheads Gold Project, Ark and Darcy gold assets #### Identity - Project: Whiteheads Gold Project, Ark and Darcy gold assets - Ticker: HAS #### Resource scope - Resource group id: resource:e95597e9a76528a6c796 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: The divestment of non-core gold assets is a positive strategic move, enabling Hastings to streamline its focus on rare earths and critical minerals while providing value to shareholders through the in specie distribution. - Positive factor: Allows Hastings to focus capital and management resources on core rare earths business - Positive factor: Provides marketable liquidity for gold assets - Positive factor: Share distribution allows Hastings shareholders to retain exposure to gold assets Evidence · text > Accordingly, the divestment was completed on 5 December 2025. Metal Bank issued 160,022,264 shares to Hastings as consideration for Whiteheads, Ark and Darcy, with a fair value of approximately A$3.20 million at the date of disposal. The shares were subsequently distributed in specie to eligible Hastings shareholders on 11 December 2025 at a ratio of 0.7213 Metal Bank shares for each Hastings share held. #### Tags used in scoring **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### Fact 60 [Link to this fact](https://atlas-staging.minestarters.com/news/has-annual-report-to-shareholders--a9ffa0a8-316f-4b77-b2cf-bdb7037921fd#fact-resource-facts-60) Yangibana Rare Earths and Niobium Project #### Identity - Project: Yangibana Rare Earths and Niobium Project - Ticker: HAS #### Resource scope - Resource group id: resource:cd99f5aec8cca3c529ad #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: Wyloo's decision to divest its 60% interest in the Yangibana Project is a material negative development, creating significant uncertainty for the project's future development and funding, despite the positive DFS results. - Negative factor: Wyloo's divestment process introduces significant uncertainty for the project's development timeline - Negative factor: Potential for changes in joint venture ownership and management structure Evidence · text > Wyloo subsequently advised that, as part of its broader capital allocation priorities, it intended to divest its 60% participating interest in the Yangibana Project. A sale process commenced in April 2026 and attracted interest from a number of prospective investors. The process has introduced some uncertainty around the timing of the next phase of Project development. #### Tags used in scoring **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ## How Atlas produces this analysis Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.