Akora (AKO) VS Hawsons (HIO), page-30

I hate to see people losing money, but...

Hawsons Iron (HIO) announced they have slowed down the activity on their BFS.

Their share price has also tanked 65% to $0.135

Key points from their announcement:

• Escalating global costs and deteriorating economic conditions have necessitated a slowdown decision for the Hawsons Iron Project Bankable Feasibility Study
• BFS will not be completed by the end of December 2022
• Prudent response to preserve capital while examining all options to progress the project
• AGM resolutions put to reset equity raising placement capacity

Again, it is sad to see people losing money, but I felt that HIO is going to need to raise an absolute fortune to be able to justify all of the work that needs to be done, and this has been exacerbated by the state of the global markets.

AKO will not be immune to the machinations of the global markets, but if our studies come back and paint a positive picture, hopefully we can use that to:

• sign off take agreements
• get a mining license
• raise funds and build the mine
• go mining.

4 simple steps!

In all seriousness, a DSO starter coming in between $100m and $150m would be brilliant, but i think it could be closer to $250m.

Of course I am talking from a position of ignorance in relation to the detailed costs etc, but I think my previous research post about the potential for costs should be fairly realistic in terms of higher end costs.

45 days between now and the end of November, and then a lot of our questions should be answered.