HAW - Hawthorn Resources

[frugal.rock]

Hmm, amazing what the word "Hancock" can do...

Flag pennant thingy... where to from here though?

 

[greggles]

Hawthorne Resources benefiting today from the earn-in of Hancock Magnetite Holdings Pty Ltd into the Mt Bevan iron ore project. HAW currently holds a 40% interest in the Mt Bevan project, although this will reduce to 28% once Hancock's initial invesment of $9 million has been paid. If Hancock elects to fund through to a completed PFS then HAW will hold 19.6%.

Still, this looks very good for HAW which will not have to spend another cent on the project potentially all the way through to a completed PFS, which will free up their cash at hand to be used for other purposes. Also, you can't get a more serious player than a Hancock entity, so this will de-risk the project considerably.

Sounds like a good deal to me.

 

[frugal.rock]

Not a single mention of LEG, Legacy Iron Ore there Greg.... the main beneficiary of the JV agreement?

 

[greggles]

Not a single mention of LEG, Legacy Iron Ore there Greg.... the main beneficiary of the JV agreement?

I noticed you already did that in the LCY thread.

 

[frugal.rock]

Looking at the chart, my thoughts are, will it fill the gap?
Are the funnymentals or trading strong enough to stop it filling the gap?