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Hastings Rare Metals Technical Director Increases Stake On Market

Hastings Rare Metals (ASX: HAS) technical director Steve Mackowski has increased his shareholding in the company with an on-market purchase of a further 170,900 shares.

Mackowski acquired the shares for a total consideration A$19,679, or an average entry price of around $0.11.

He now holds 1.17 million shares and 2 million options, exercisable at $0.20 before 31 October 2014.

Highlighting the rapid advancements being made at Hastings' heavy rare earths project, the company recently confirmed successful rare earth recoveries.

Hastings successfully completed the first stage of test work which validated and verified Stage 1 of the flow sheet that was developed as part of the 1990 pilot plant tests in Warren Spring, UK.

The outcome is confirmation of rare earths recoveries in the range of 70% to 80% when testing at different operating conditions.

Importantly, the results validate the advanced status for the Hastings project and put the company on track to be an early producer of dysprosium and yttrium to the world market.

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