Ann: HAW - Appendix 3X Director Notice - Mr B F Thornton, page-2

Far from wishing to depart from the entrenched negative vibe on these HAW threads I am cautiously positive about the latest announcements.

Even though Chris Corrigan was seen almost as a talisman for HAW’s success he was by no means a mining person. He has done well both via HAW and GEL and presumably didn’t wish to continue with the Trouser Legs JV so has exited GEL. With Brian Thornton now the sole owner of GEL I think the JV has more chance to proceed to the next stage of gold production.

On the matter of Mt Bevan iron ore I am watching JNO as they proceed towards their Mt Mason hematite operation. For those who aren’t aware HAW/LCY have within their Mt Bevan lease a continuation of JNO’s hematite IO resource. At some point all parties will need to decide on how to exploit the total resource in the current hot IO market. JNO are targeting Q1 2022 for commencement of operations. Not far away !

At the present market cap of $16M with $12M cash very little of the above is showing in the share price I believe.

Keep the faith,

Redtank.