Hastings Technology Metals Approves Divestment of Gold Assets and In-Specie Distribution
Hastings Technology Metals Ltd (ASX: HAS) has confirmed shareholder approval for the in-specie distribution of Metal Bank (MBK) consideration shares, marking the final step toward the divestment of its gold assets. With all conditions for MBK’s acquisition now satisfied or waived, transaction completion is set for 5 December 2025.
Upon completion, MBK will issue 160,022,264 MBK shares to Hastings as consideration for the transfer of the Whiteheads Project, the Ark Project, and the Darcy Project — representing highly prospective Western Australian gold exploration assets. Leadership changes accompany the transaction, with Hastings COO Tim Gilbert appointed as Chief Executive Officer of MBK and Chairman Charles Lew joining the MBK board as a non-executive director. The divestment allows Hastings shareholders exposure to two strategic resource investments, rare earths and gold, with immediate liquidity through the distribution of MBK shares and enhanced growth prospects across both companies.
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Hastings Technology Metals Approves Divestment of Gold Assets and In-Specie Distribution
Hastings Technology Metals Ltd (ASX: HAS) has confirmed shareholder approval for the in-specie distribution of Metal Bank (MBK) consideration shares, marking the final step toward the divestment of its gold assets. With all conditions for MBK’s acquisition now satisfied or waived, transaction completion is set for 5 December 2025.
Upon completion, MBK will issue 160,022,264 MBK shares to Hastings as consideration for the transfer of the Whiteheads Project, the Ark Project, and the Darcy Project — representing highly prospective Western Australian gold exploration assets. Leadership changes accompany the transaction, with Hastings COO Tim Gilbert appointed as Chief Executive Officer of MBK and Chairman Charles Lew joining the MBK board as a non-executive director. The divestment allows Hastings shareholders exposure to two strategic resource investments, rare earths and gold, with immediate liquidity through the distribution of MBK shares and enhanced growth prospects across both companies.
Customer Notice:
Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com.au