FY2021
Reserve upgrade and equity funding
In February 2021 Hastings completed a A$100.7 million placement; the annual package also records the Yangibana reserve upgrade to 16.7 Mt, announced in July 2021 after the year end.
ASX: HAS · Five-year financial review
Hastings Technology Metals Ltd (ASX: HAS) - Five-Year Financial Review FY2021-FY2025
Five consolidated financial years to 30 June 2025, presented in Australian dollars. Compare statutory losses, cash use, project carrying values and financing alongside the Yangibana development context; balance-sheet classifications and per-share bases change during the span.
Reading the tables: 0 (nil) is a supported zero. Other text distinguishes an amount included in another line, a non-applicable item, a separately unavailable component and an unresolved value. These are not interchangeable. Period-specific detail is labelled; complete year-by-year detail remains available.
FY2025 statutory net loss
A$222.112m
Includes A$176.400m of separately reported impairments.
FY2025 closing cash
A$0.688m
Restricted term deposits of A$1.235m are separate.
FY2025 net assets
A$85.508m
Down after impairment and other losses.
FY2025 issuer net debt
A$128.486m
Issuer cash/debt/lease aggregation; excludes restricted deposits.
Five years in context
Hastings is a rare-earth project developer. During these five years the annual statements show project exploration and plant spending funded through equity and borrowing, rather than a mining revenue or production trend. The 2022 exchangeable-note funding accompanied the Neo equity investment; from FY2023 the auditor highlighted material uncertainty related to going concern and the need for further project funding.
FY2025 changed the balance-sheet picture: major impairments reduced asset carrying values, Yangibana assets were classified as held for sale, and exchangeable notes moved to current liabilities at the balance date. A subsequent joint-venture transaction cancelled those notes; that later event does not erase their 30 June 2025 liability classification.
Events behind the numbers
FY2022
Site works and revised development budget
Site works began in September 2021; by June 2022 early works were 35% complete. Hastings disclosed an updated development capital-cost estimate of A$658 million and raised capital through the L1 placement and option exercises.
FY2023
Neo investment and exchangeable notes
In 2022 Hastings used A$150 million Wyloo-backed exchangeable notes to fund its Neo investment. The February 2023 Yangibana reserve update raised Proved and Probable Ore Reserves to 20.93 Mt. The auditor highlighted material going-concern uncertainty.
FY2024
Site infrastructure and rights issue
Hastings reported A$154 million invested in Yangibana mine infrastructure and equipment; the disclosed site infrastructure represented 32% of total project capital cost. An April 2024 rights issue raised A$15.9 million, and the report recognised A$2.768 million of exploration impairment for relinquished tenements.
FY2025
Impairment and held-for-sale classification
The FY2025 accounts recorded A$176.400 million of exploration and plant impairments and classified A$118.038 million of assets as held for sale. Exchangeable notes were current at 30 June 2025; their cancellation formed part of the subsequent Yangibana joint-venture transaction.
FINANCIAL REVIEW / 01
Results and comprehensive loss
Hastings reported losses throughout the five years while developing Yangibana. FY2025's statutory result includes A$176.400 million of exploration and plant impairment, while finance costs had increased after the 2022 exchangeable-note financing. The FVOCI investment movements belong in other comprehensive income and are shown separately from profit or loss.
Statutory net loss
A$ million
Net loss for the year
AI-generated presentation · values from Consolidated profit or loss; no missing values plotted as zero.
Consolidated profit or loss
A$ million
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Other income | 0.176 | 0.329 | 7.170 | 5.574 | 2.274 |
| Administration expenses | (0.532) | (1.418) | (1.488) | (1.191) | (0.819) |
| Employee benefits expense | (1.898) | (3.457) | (6.491) | (6.914) | (2.717) |
| Consulting and professional fees | (0.369) | (0.772) | (5.668) | (1.222) | (0.698) |
| Finance costs | (0.018) | (0.028) | (20.562) | (34.724) | (30.332) |
| Share-based payment expense/(reversal) | (2.091) | (2.312) | 0.351 | (1.241) | 0.086 |
| Exploration and evaluation impairment | N/P | N/P | N/P | (2.768) | (39.059) |
| Plant and equipment impairment | N/P | N/P | N/P | N/P | (137.341) |
| Loss before tax | (6.333) | (9.435) | (10.580) | (33.273) | (222.211) |
| Income tax benefit/(expense) | 0 (nil) | 0 (nil) | 0 (nil) | (0.518) | 0.099 |
| Net loss for the year | (6.333) | (9.435) | (10.580) | (33.792) | (222.112) |
A$ million; continuing operations. Expenses and losses are negative. The impairment rows are separately reported only in the periods shown. N/P means not separately presented in the selected statement, not zero. FY2025's two impairment lines total A$176.400 million.
The income statement does not present product-sales revenue; other income is not mining sales.
Basis and presentation notes (10)
- Exploration and evaluation impairment / FY2021 — N/P: Not separately presented in the selected annual statement for this period.
- Exploration and evaluation impairment / FY2022 — N/P: Not separately presented in the selected annual statement for this period.
- Exploration and evaluation impairment / FY2023 — N/P: Not separately presented in the selected annual statement for this period.
- Plant and equipment impairment / FY2021 — N/P: Not separately presented in the selected annual statement for this period.
- Plant and equipment impairment / FY2022 — N/P: Not separately presented in the selected annual statement for this period.
- Plant and equipment impairment / FY2023 — N/P: Not separately presented in the selected annual statement for this period.
- Plant and equipment impairment / FY2024 — N/P: Not separately presented in the selected annual statement for this period.
- Income tax benefit/(expense) / FY2021 — 0 (nil): The matching issuer extraction R000767 identifies this FY2021 metric as nil on the report row's basis.
- Income tax benefit/(expense) / FY2022 — 0 (nil): The matching issuer extraction R002250 identifies this FY2022 metric as nil on the report row's basis.
- Income tax benefit/(expense) / FY2023 — 0 (nil): The matching issuer extraction R003585 identifies this FY2023 metric as nil on the report row's basis.
Source: Hastings Technology Metals annual reports FY2021–FY2025; exact row and document evidence is retained in the author evidence file.
Comprehensive income and per-share loss
A$ million
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| FVOCI equity investment movement | N/P | 0 (nil) | (71.950) | (2.629) | 8.724 |
| Other comprehensive income/(loss) | (0.001) | 0.009 | (71.939) | (2.635) | 8.714 |
| Total comprehensive loss | (6.334) | (9.426) | (82.518) | (36.427) | (213.397) |
| Basic and diluted loss per sharecents per share | (0.48) | (10.33) | (8.69) | (24.11) | (123.79) |
FVOCI is an other-comprehensive-income valuation movement and is separate from statutory profit or loss. FY2022 loss per share uses the FY2023 annual report's FY2022 comparative; the 1-for-20 consolidation in May 2022 breaks direct per-share comparability with FY2021.
Basis and presentation notes (2)
- FVOCI equity investment movement / FY2021 — N/P: Not separately presented in the selected annual statement for this period.
- FVOCI equity investment movement / FY2022 — 0 (nil): The matching issuer extraction R003590 identifies this FY2022 metric as nil on the report row's basis.
Source: Hastings Technology Metals annual reports FY2021–FY2025; exact row and document evidence is retained in the author evidence file.
FINANCIAL REVIEW / 02
Liquidity, asset classification and debt
Cash fell as project and investment outlays continued. The FY2025 balance sheet moved exchangeable notes into current borrowings and classified Yangibana assets and associated liabilities as held for sale. Accordingly, the drop in plant and exploration carrying amounts should be read with the impairment and held-for-sale movements, not as a simple disposal or cash outflow. The issuer's net cash/(debt) reconciliation remains negative from FY2023.
Cash and cash equivalents
A$ million
Cash and cash equivalents
AI-generated presentation · values from Consolidated statement of financial position at 30 June; no missing values plotted as zero.
Issuer net cash/(debt)
A$ million
Issuer net cash/(debt) total
AI-generated presentation · values from Issuer net cash/(debt) reconciliation; no missing values plotted as zero.
Consolidated statement of financial position at 30 June
A$ million
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Cash and cash equivalents | 28.067 | 119.867 | 98.644 | 17.890 | 0.688 |
| Trade and other receivables / other receivables | 4.612 | 8.587 | 8.349 | 1.135 | 0.243 |
| Term deposits at amortised cost (current) | 82.000 | 15.000 | 0 (nil) | N/P | N/P |
| Other current assets | N/P | N/P | N/P | 6.256 | 1.601 |
| FVOCI investments (current) | N/P | N/P | N/P | N/P | 10.145 |
| Assets classified as held for sale | N/P | N/P | N/P | N/P | 118.038 |
| Total current assets | 114.679 | 143.454 | 106.993 | 25.281 | 130.715 |
| FVOCI investments (non-current) | N/P | N/P | 83.899 | 81.270 | 0 (nil) |
| Plant and equipment | 46.446 | 82.932 | 212.684 | 277.013 | 61.524 |
| Deferred exploration and evaluation | 64.704 | 71.411 | 88.297 | 94.271 | 30.111 |
| Total non-current assets | 111.230 | 154.884 | 386.429 | 454.722 | 92.052 |
| Total assets | 225.909 | 298.338 | 493.422 | 480.003 | 222.767 |
| Trade and other payables | 2.692 | 11.891 | 22.584 | 7.822 | 2.830 |
| Current borrowings | 0 (nil) | N/P | N/P | 0.300 | 123.659 |
| Non-current borrowings | N/P | N/P | 133.187 | 168.072 | 5.053 |
| Total current liabilities | 3.007 | 12.437 | 37.259 | 11.253 | 130.062 |
| Total non-current liabilities | 0.970 | 3.472 | 140.991 | 172.334 | 7.197 |
| Total liabilities | 3.977 | 15.909 | 178.250 | 183.587 | 137.259 |
| Net assets / total equity | 221.931 | 282.428 | 315.173 | 296.417 | 85.508 |
A$ million, consolidated group. FY2025's current assets include A$118.038 million held for sale; current liabilities include A$123.659 million borrowings and A$2.804 million liabilities attached to held-for-sale assets. Classification and FY2025 impairments affect trend interpretation.
FY2021–FY2024 term deposits, FVOCI investments and borrowings follow their reported current/non-current classification. N/P means that line was not separately presented in the chosen year's statement.
FY2025 FVOCI investments are wholly current: the current line equals the entire Note 14 FVOCI closing balance, and the non-current asset subtotal supports 0 (nil) in that classification.
Basis and presentation notes (22)
- Term deposits at amortised cost (current) / FY2023 — 0 (nil): The matching issuer extraction R003645 identifies this FY2023 metric as nil on the report row's basis.
- Term deposits at amortised cost (current) / FY2024 — N/P: Not separately presented in the selected annual statement for this period.
- Term deposits at amortised cost (current) / FY2025 — N/P: Not separately presented in the selected annual statement for this period.
- Other current assets / FY2021 — N/P: Not separately presented in the selected annual statement for this period.
- Other current assets / FY2022 — N/P: Not separately presented in the selected annual statement for this period.
- Other current assets / FY2023 — N/P: Not separately presented in the selected annual statement for this period.
- FVOCI investments (current) / FY2021 — N/P: Not separately presented in the selected annual statement for this period.
- FVOCI investments (current) / FY2022 — N/P: Not separately presented in the selected annual statement for this period.
- FVOCI investments (current) / FY2023 — N/P: Not separately presented in the selected annual statement for this period.
- FVOCI investments (current) / FY2024 — N/P: Not separately presented in the selected annual statement for this period.
- Assets classified as held for sale / FY2021 — N/P: Not separately presented in the selected annual statement for this period.
- Assets classified as held for sale / FY2022 — N/P: Not separately presented in the selected annual statement for this period.
- Assets classified as held for sale / FY2023 — N/P: Not separately presented in the selected annual statement for this period.
- Assets classified as held for sale / FY2024 — N/P: Not separately presented in the selected annual statement for this period.
- FVOCI investments (non-current) / FY2021 — N/P: Not separately presented in the selected annual statement for this period.
- FVOCI investments (non-current) / FY2022 — N/P: Not separately presented in the selected annual statement for this period.
- FVOCI investments (non-current) / FY2025 — 0 (nil): At 30 June 2025 the FVOCI holding of A$10,144,767 is wholly current: the current balance-sheet line equals the entire Note 14 closing balance and financial-assets summary. The non-current line is a dash and the disclosed non-current asset components sum exactly to the subtotal without FVOCI.
- Current borrowings / FY2021 — 0 (nil): The matching issuer extraction R000975 identifies this FY2021 metric as nil on the report row's basis.
- Current borrowings / FY2022 — N/P: Not separately presented in the selected annual statement for this period.
- Current borrowings / FY2023 — N/P: Not separately presented in the selected annual statement for this period.
- Non-current borrowings / FY2021 — N/P: Not separately presented in the selected annual statement for this period.
- Non-current borrowings / FY2022 — N/P: Not separately presented in the selected annual statement for this period.
Source: Hastings Technology Metals annual reports FY2021–FY2025; exact row and document evidence is retained in the author evidence file.
Issuer net cash/(debt) reconciliation
A$ million
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Cash and cash equivalents | 28.067 | 119.867 | 98.644 | 17.890 | 0.688 |
| Term deposits at amortised cost | 82.000 | 15.000 | N/P | N/P | N/P |
| Borrowings (deducted) | 0 (nil) | 0 (nil) | (133.187) | (168.373) | (128.713) |
| Lease liabilities (deducted) | (0.112) | (0.590) | (1.608) | (0.930) | (0.461) |
| Issuer net cash/(debt) total | 109.955 | 134.276 | (36.151) | (151.413) | (128.486) |
Issuer's aggregation of cash, eligible term deposits, borrowings and leases; non-IFRS and not a substitute for the classified balance sheet. Negative totals denote net debt. FY2025's separately restricted term deposits are not included in the issuer's net cash calculation.
Basis and presentation notes (5)
- Term deposits at amortised cost / FY2023 — N/P: Not separately presented in the selected annual statement for this period.
- Term deposits at amortised cost / FY2024 — N/P: Not separately presented in the selected annual statement for this period.
- Term deposits at amortised cost / FY2025 — N/P: Not separately presented in the selected annual statement for this period.
- Borrowings (deducted) / FY2021 — 0 (nil): The matching issuer extraction R000893 identifies this FY2021 metric as nil on the report row's basis.
- Borrowings (deducted) / FY2022 — 0 (nil): The matching issuer extraction R002407 identifies this FY2022 metric as nil on the report row's basis.
Source: Hastings Technology Metals annual reports FY2021–FY2025; exact row and document evidence is retained in the author evidence file.
FINANCIAL REVIEW / 03
Cash use and funding
Operating cash outflows remained material, while investing cash flow swung with the placement and redemption of term deposits, the Neo investment and Yangibana plant payments. Equity and borrowing receipts funded those uses. The cash-flow table separates cash project payments from capitalised exploration balances and from non-cash impairment.
Operating cash flow
A$ million
Net operating cash flow
AI-generated presentation · values from Consolidated cash flows; no missing values plotted as zero.
Plant and equipment cash payments
A$ million
Plant and equipment payments
AI-generated presentation · values from Consolidated cash flows; no missing values plotted as zero.
Consolidated cash flows
A$ million
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Payments to suppliers and employees | (4.828) | (10.277) | (14.078) | (10.942) | (8.297) |
| Interest received | 0.075 | 0.278 | 4.417 | 1.853 | 0.247 |
| Income tax paid/(received) | N/P | N/P | N/P | (0.518) | 0.099 |
| Net operating cash flow | (4.702) | (10.007) | (9.698) | (9.650) | (8.050) |
| Exploration and evaluation payments | (6.578) | (7.663) | (6.775) | (9.264) | (1.537) |
| Plant and equipment payments | (4.173) | (25.529) | (120.486) | (80.652) | (18.506) |
| FVOCI investment purchases | N/P | N/P | (150.994) | 0 (nil) | N/P |
| FVOCI investment dividends received | N/P | N/P | 2.520 | 3.965 | 2.109 |
| Term deposits placed | (82.000) | 0 (nil) | N/P | N/P | N/P |
| Term deposits matured/redeemed | N/P | 67.000 | 15.000 | 0 (nil) | N/P |
| Net investing cash flow | (92.244) | 34.377 | (260.732) | (85.426) | (17.673) |
| Share and option issue proceeds | 121.532 | 69.476 | 111.000 | 17.158 | 2.771 |
| Borrowing proceeds | 0 (nil) | N/P | 150.000 | 0.445 | 5.815 |
| Borrowing costs paid | N/P | N/P | (7.204) | (1.652) | (1.479) |
| Lease principal paid | (0.203) | (0.187) | (0.192) | (0.861) | (0.610) |
| Net financing cash flow | 115.565 | 67.425 | 249.218 | 14.363 | 8.525 |
| Closing cash and cash equivalents | 28.067 | 119.867 | 98.644 | 17.890 | 0.688 |
A$ million, cash basis. Investing totals include term-deposit placements/redemptions and acquisition of FVOCI investments, so they are not interchangeable with project capital expenditure. Lease payments are labelled principal in the annual cash-flow statements selected here.
Individual listed components do not exhaust every cash-flow line; statutory subtotals are used directly. N/P indicates a line not separately presented for that year; dashes supported as nil retain nil state.
FY2024 amortised-cost proceeds/redemptions are issuer-supported nil; the saved proceeds source does not establish FY2024 placements/payments, which remain not separately presented.
Basis and presentation notes (20)
- Income tax paid/(received) / FY2021 — N/P: Not separately presented in the selected annual statement for this period.
- Income tax paid/(received) / FY2022 — N/P: Not separately presented in the selected annual statement for this period.
- Income tax paid/(received) / FY2023 — N/P: Not separately presented in the selected annual statement for this period.
- FVOCI investment purchases / FY2021 — N/P: Not separately presented in the selected annual statement for this period.
- FVOCI investment purchases / FY2022 — N/P: Not separately presented in the selected annual statement for this period.
- FVOCI investment purchases / FY2024 — 0 (nil): The matching issuer extraction R004821 identifies this FY2024 metric as nil on the report row's basis.
- FVOCI investment purchases / FY2025 — N/P: Not separately presented in the selected annual statement for this period.
- FVOCI investment dividends received / FY2021 — N/P: Not separately presented in the selected annual statement for this period.
- FVOCI investment dividends received / FY2022 — N/P: Not separately presented in the selected annual statement for this period.
- Term deposits placed / FY2022 — 0 (nil): The matching issuer extraction R002132 identifies this FY2022 metric as nil on the report row's basis.
- Term deposits placed / FY2023 — N/P: Not separately presented in the selected annual statement for this period.
- Term deposits placed / FY2024 — N/P: The selected FY2024 cash-flow source has a nil proceeds/redemption line, not a nil placement/payment line; no separate FY2024 placement amount is established.
- Term deposits placed / FY2025 — N/P: Not separately presented in the selected annual statement for this period.
- Term deposits matured/redeemed / FY2021 — N/P: Not separately presented in the selected annual statement for this period.
- Term deposits matured/redeemed / FY2024 — 0 (nil): The matching issuer extraction R004827 identifies this FY2024 metric as nil on the report row's basis.
- Term deposits matured/redeemed / FY2025 — N/P: Not separately presented in the selected annual statement for this period.
- Borrowing proceeds / FY2021 — 0 (nil): The matching issuer extraction R000569 identifies this FY2021 metric as nil on the report row's basis.
- Borrowing proceeds / FY2022 — N/P: Not separately presented in the selected annual statement for this period.
- Borrowing costs paid / FY2021 — N/P: Not separately presented in the selected annual statement for this period.
- Borrowing costs paid / FY2022 — N/P: Not separately presented in the selected annual statement for this period.
Source: Hastings Technology Metals annual reports FY2021–FY2025; exact row and document evidence is retained in the author evidence file.
Deferred exploration and evaluation asset roll-forward
A$ million
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Opening carrying amount | 57.224 | 64.704 | 71.411 | 88.297 | 94.271 |
| Exploration expenditure capitalised | 7.600 | 7.476 | 16.550 | 8.952 | 1.540 |
| R&D tax offset credited against asset | (0.506) | (0.568) | 0 (nil) | (0.524) | N/P |
| Exploration impairment | N/P | N/P | 0 (nil) | (2.768) | (39.059) |
| Transfer to held-for-sale assets | N/P | N/P | N/P | N/P | (26.124) |
| Closing carrying amount | 64.704 | 71.411 | 88.297 | 94.271 | 30.111 |
A$ million, accrual carrying amounts. Capitalised exploration differs from cash exploration payments because of timing and accounting adjustments. The FY2025 decline includes both impairment and transfer to held-for-sale assets.
Basis and presentation notes (9)
- R&D tax offset credited against asset / FY2023 — 0 (nil): The matching issuer extraction R003769 identifies this FY2023 metric as nil on the report row's basis.
- R&D tax offset credited against asset / FY2025 — N/P: Not separately presented in the selected annual statement for this period.
- Exploration impairment / FY2021 — N/P: Not separately presented in the selected annual statement for this period.
- Exploration impairment / FY2022 — N/P: Not separately presented in the selected annual statement for this period.
- Exploration impairment / FY2023 — 0 (nil): The matching issuer extraction R005170 identifies this FY2023 metric as nil on the report row's basis.
- Transfer to held-for-sale assets / FY2021 — N/P: Not separately presented in the selected annual statement for this period.
- Transfer to held-for-sale assets / FY2022 — N/P: Not separately presented in the selected annual statement for this period.
- Transfer to held-for-sale assets / FY2023 — N/P: Not separately presented in the selected annual statement for this period.
- Transfer to held-for-sale assets / FY2024 — N/P: Not separately presented in the selected annual statement for this period.
Source: Hastings Technology Metals annual reports FY2021–FY2025; exact row and document evidence is retained in the author evidence file.
FINANCIAL REVIEW / 04
Capital raised and shareholder position
Funding came from share and option issues as well as borrowings. Issued capital rose, but FY2025 impairments and other losses reduced net assets. Directors explicitly reported no declared shareholder dividend in FY2021–FY2024; the selected FY2025 records do not resolve that declaration separately. Neo dividends were cash received on Hastings' investment, not shareholder distributions.
Equity financing and issued capital
A$ million
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Gross share and option cash proceeds | 121.532 | 69.476 | 111.000 | 17.158 | 2.771 |
| Share issue costs paid | (5.755) | (1.865) | (4.386) | (0.728) | (0.197) |
| Issued capital at year end | 242.276 | 318.791 | 435.317 | 452.319 | 455.047 |
| Accumulated losses at year end | (28.629) | (38.020) | (48.323) | (82.077) | (369.365) |
| Total equity at year end | 221.931 | 282.428 | 315.173 | 296.417 | 85.508 |
| Shareholder dividend declarationsource state | 0 (nil) | 0 (nil) | 0 (nil) | 0 (nil) | 0 (nil) |
Cash proceeds are cash-flow figures and issued capital is an accrual equity balance; they should not be added together. The FY2025 dividend received on an investment is not a payment to Hastings shareholders. Its absence from the financing and equity movement lines does not establish the FY2025 declaration state. The 1-for-20 share consolidation on 23 May 2022 changes share-count and per-share comparability.
FY2021–FY2025 shareholder dividend declarations are explicitly nil. FY2025 Note 29 states that no dividend was declared for the year ended 30 June 2025 (2024: nil); the Directors' Report also confirms none paid or declared. Investment dividends received are not shareholder distributions.
The final parsed-body check resolves the FY2025 dividend declaration using Note 29 and the Directors' Report. Post-balance-date in-specie plans remain separate from dividends declared for FY2025.
Basis and presentation notes (5)
- Shareholder dividend declaration / FY2021 — 0 (nil): R000227 explicitly states that no shareholder dividend was declared in respect of FY2021; zero refers to declarations, not receipts from investments.
- Shareholder dividend declaration / FY2022 — 0 (nil): R001845 explicitly states that no shareholder dividend was declared in respect of FY2022; zero refers to declarations, not receipts from investments.
- Shareholder dividend declaration / FY2023 — 0 (nil): R003189 explicitly states that no shareholder dividend was declared in respect of FY2023; zero refers to declarations, not receipts from investments.
- Shareholder dividend declaration / FY2024 — 0 (nil): R004395 explicitly states that no shareholder dividend was declared in respect of FY2024; zero refers to declarations, not receipts from investments.
- Shareholder dividend declaration / FY2025 — 0 (nil): FY2025 Note 29 explicitly states that no dividend was declared for the year ended 30 June 2025 (2024: nil). The Directors' Report also confirms none paid or declared. Investment receipts and subsequent in-specie plans do not replace this statement.
Source: Hastings Technology Metals annual reports FY2021–FY2025; exact row and document evidence is retained in the author evidence file.
FINANCIAL REVIEW / 05
Yangibana development and mineral inventory
Reported Yangibana Ore Reserves increased in FY2023 after drilling and the acquisition of the remaining interest in certain joint-venture tenements. The project budget is a development estimate and is shown only for its dated FY2025 disclosure. These are project measures; Hastings had no mining production series to pair with the financial statements in this selected record set.
Yangibana reported Resource and Reserve estimates
million tonnes
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Ore Reserves, Proved + Probable | 16.70 | 16.70 | 20.93 | 20.93 | 20.92 |
| Mineral Resources, Measured + Indicated + Inferred | 27.42 | 27.42 | 29.93 | 29.93 | 29.93 |
Estimates reported in each annual package; disclosure dates are not uniform balance dates. The FY2021 Ore Reserve value was announced after the 30 June 2021 year end, as qualified in its cell. Resources and Reserves are not additive and are not production or sales. FY2023 increase reflects the updated reserve statement; repeated annual estimates do not imply annual mining output.
Source: Hastings Technology Metals annual reports FY2021–FY2025; exact row and document evidence is retained in the author evidence file.
Yangibana updated project capital-cost estimate, FY2025 disclosure
A$ million (estimate)
| Metric | FY2025 |
|---|---|
| Processing plant and non-process infrastructureA$ million | 201.00 |
| Enabling worksA$ million | 114.10 |
| Direct capital cost subtotalA$ million | 315.10 |
| Indirect capital cost subtotalA$ million | 131.50 |
| Contingency / reserveA$ million | 26.90 |
| Total updated project capital costA$ million | 473.50 |
Issuer project estimate, not a statutory balance-sheet asset or FY2025 cash expense. Subtotals and total are shown as disclosed; do not add subtotal rows twice.
Source: Hastings Technology Metals annual reports FY2021–FY2025; exact row and document evidence is retained in the author evidence file.
Reading the figures
- Figures are A$ million unless a row says otherwise; parentheses denote losses, outflows or negative balances. Rounded components may not sum to rounded totals.
- N/P means a line was not separately presented in the selected annual statement; nil is used only where the source reports a nil amount. Neither means an issuer never disclosed the item elsewhere.
- FY2025 shareholder dividends are confirmed nil in parsed Note 29 and the Directors' Report. Investment dividends received and subsequent proposed in-specie distributions remain separate.
- FY2021 loss per share precedes the May 2022 1-for-20 share consolidation. FY2022 EPS uses the FY2023 annual report comparative; it is identified in the evidence file.
- FY2025 held-for-sale classifications, impairment and exchangeable-note reclassification interrupt simple asset and current-debt trends. Issuer net cash/(debt) is a separate non-IFRS aggregation.
- Project Resource/Reserve estimates and capital-cost plans are not production, sales or IFRS cash flows. The budget shown is the dated FY2025 disclosure.
- Final targeted check: existing parsed annual-report DB evidence was read on 28 September 2026. Not available in checked reports is a closed data-availability limit, never a numeric zero. Only the previously held cells and their directly related notes were changed; this is not a new full-report audit or publication approval.
Annual-report source registry
- Hastings Technology Metals Ltd, Annual Report to shareholders 2021Year ended 2021-06-30; report dated 2021-09-30. Consolidated financial statements presented in Australian dollars.
- Hastings Technology Metals Ltd, Annual Report to shareholders 2022Year ended 2022-06-30; report dated 2022-09-30. Consolidated financial statements presented in Australian dollars.
- Hastings Technology Metals Ltd, Annual Report to shareholders 2023Year ended 2023-06-30; report dated 2023-09-28. Consolidated financial statements presented in Australian dollars.
- Hastings Technology Metals Ltd, Annual Report to shareholders 2024Year ended 2024-06-30; report dated 2024-09-30. Consolidated financial statements presented in Australian dollars.
- Hastings Technology Metals Ltd, Annual Report to shareholders 2025Year ended 2025-06-30; report dated 2025-09-30. Consolidated financial statements presented in Australian dollars.
Prepared from the existing annual extraction datasets, supplemented only by selected same-company annual-report tables and saved row interpretations. No new raw-document extraction or web financial research was used for this test.
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AI-led method
This report uses AI actively and extensively for evidence extraction, comparison, organisation, calculation checks, drafting, translation planning and presentation. Material claims received reasonable editorial review against cited public sources; this was not an audit, assurance engagement or independent verification. Limitations in public sources, AI systems and review may leave errors, omissions, inconsistencies or translation, classification and interpretation errors.
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