Hastings Technology Metals Ltd (ASX:HAS, OTC:HSRMF) has secured a $1 million strategic investment from Malaco Mining Sdn. Bhd., adding balance sheet flexibility as it advances its rare earths strategy across Australia and Thailand.

The investment will be completed through a placement of 2,739,726 fully paid ordinary shares at $0.365 per share, with the shares to be issued under Hastings’ existing placement capacity under ASX Listing Rule 7.1A.

Funds to support rare earths strategy

Hastings intends to use the proceeds for general working capital and to support its rare earths strategy, including the ongoing advancement of its project pipeline and Thai-based hydromet plant.

The investment is expected to provide…