Ann: Mt Bevan Joint Venture Update, page-11

Personally I'm not too worried with short term fluctuation of SP in the short term. I believe that HAW is undervalued and will go above 20c in the future. Don't make any sense for this to be sitting at $50m market cap with 15m in cash, stake in the Mt Bevan Iron Ore venture and other great prospects. GIB just announced some great drilling results for their NETA prospect and most intercepts are from 105M. Last year HAW only drilled to 102m in our tenement located just south of NETA. Might have some similar results with deeper drills. SP can shoot easily shoot up to 50c with one good announcement/drill results from one of our tenements.