Sharecafe

Hawsons Iron Pursues $1M Share Purchase

Thumbnail
Funding targets updated Prefeasibility Study for the Hawsons Iron Project.

Hawsons Iron (ASX:HIO) is initiating a share purchase plan to raise up to $1 million, prompted by interest from an investment fund seeking to expedite the Hawsons Iron Project. The company is offering shares at $0.02 each, representing a 17% discount to the last traded price on June 5th and an 18% discount to the five-day VWAP. The share purchase plan is scheduled to open on June 23rd and close on July 11th, with shares to be issued on July 16th.

Funds raised will be directed toward an updated Prefeasibility Study, including maiden ore reserves, for the Hawsons Iron Project, located 70km from Broken Hill in New South Wales. Recent updates to dry communication test work and a mineral resource variability study have already driven a spike in Hawsons Iron’s share price. A report supporting the use of a dry processing circuit aims to incorporate safety, environmental, and operational considerations into the project, enhancing its functionality. The Hawsons Iron Project possesses a resource of 4.4 billion tonnes, positioned to meet long-term steel demand, with opportunities for expansion to the south, east, and west.

Serving up fresh finance news, marker movers & expertise.
LinkedIn
Email
X

All Categories