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| Hastings Technology Metals |
Hastings Acquires 75% Stake in Whiteheads Project from Great Boulder
Hastings Technology Metals is expanding its Western Australia (WA) footprint with the acquisition of Great Boulder Resources’ 75% interest in the Whiteheads gold project, located just 40km north of Kalgoorlie, WA’s gold capital. The remaining 25% is held by Zebina Minerals through an existing joint venture.
Whiteheads includes two exploration agreements and offers Hastings immediate access to walk-up drill targets and multiple untested surface gold anomalies.
Transaction Terms: Cash, Shares, and Future Gold Potential
Great Boulder will receive $370,000 in cash and three million fully paid Hastings shares as initial consideration. Contingent payments—up to $800,000 in additional Hastings shares—will be triggered upon delineation of 125,000oz, 250,000oz, and 1Moz of gold equivalent, under specific cut-off grade thresholds (≥0.5g/t to 150m and ≥0.8g/t beyond 150m depth).
This structure reflects the exploration upside and scalability potential of the Whiteheads asset.
Hastings Builds Momentum Across WA Asset Base
“This acquisition is the next step in our growth trajectory,” said Hastings executive chairman Charles Lew, referencing the successful Yangibana JV with Wyloo. Lew emphasized Whiteheads as a low-cost, high-potential gold opportunity near Kalgoorlie with clear geological targets.
Meanwhile, Hastings continues to advance its Yangibana rare earths, Brockman niobium, and Ark and Darcy gold projects across WA, targeting a Whiteheads mineral resource estimate by Q4 2025.
Great Boulder managing director Andrew Paterson welcomed the deal, noting that the company will now become a supportive shareholder in Hastings, enabling the latter to unlock the project’s full value while Great Boulder focuses on its Side Well flagship.
ScrapInsight Editorial Commentary
Hastings’ entry into WA gold via the Whiteheads deal underscores a strategic diversification from rare earths into gold, in line with market dynamics favoring gold-backed hedging during resource sector volatility. Proximity to Kalgoorlie gives Hastings logistical leverage, while the earn-out structure ties valuation to verifiable resource upside. For investors watching rare earth-heavy juniors diversify, this may signal a broader trend toward dual-commodity positioning.
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