Magnetite, DRI, Greensteel News, page-137

With major steelmakers and iron ore producers all come out and stated their expectation of higher demand for steel and iron ore and their ambition of moving to higher grade ore, I think we can rule out any single one of them as potential take-over predator or JV partner to Hawsons project.

Each of them (both steel makers and iron ore producers) is a potential partner. They are ArelorMittal, Baowu Steel, POSCO, Nippon Steel, Bahrain Steel, BHP, FMG, ROY HILL, RIO, MINERALS RESOURCES, ANGLO AMERICAN, GLENCORE...You just cannot rule out any single one of them.

For HIO, there is no doubt that it is seeking a partner to bring this project to production i would think. The project is too big for HIO to do it alone and Bryan has clearly stated he is going to bring "high quality" JV partner(s) into the equation.

The resource will ultimately be multiples of current 400mt profile project as it is known for now. My investment in HIO is actually positioned to be an investment in not just 1 Hawsons project. It will be 2-3 Hawsons projects.