Over the years there has been a lot of variables but below are...

Over the years there has been a lot of variables but below are snippets from Hawthorn's announcement :

Company Announcement
28 October 2011
HAWTHORN RESOURCES LIMITED(“HAW”)
Shareholder Newsletter

Highlights from the announcement below :

NMDC currently has cash reserves in excess of US$4 billion, and has additional lines of credit
from banking syndicates,including Citibank, which are available for the purchase and financing of
resource projects.

>According to a recent Legacy ASX release
“...once on board as the largest shareholder of Legacy, NMDC will not only be providing full funding
for the ongoing development of Mount Bevan, but arranging for 100% of the required project
finance as well.”

>NMDC have recently highlighted in an interview with the Indian press on 13 October,2011:
“State-owned NMDC and Legacy will jointly invest around $1.3 billion to develop Mount Bevan.
Mount Bevan will be its first ever overseas acquisition.
Mount Bevan may need at least $1.3 billion CAPEX investment. Equity part of NMDC and Legacy
will be 30%.
As soon as we complete the acquisition part we will take that up. As it is, they are doing some
exploration there. Once we pump in the money, the work will be stepped up,” NMDC director
(Finance) S. Thiagarajansaid."

Over the past 12 months HAW has been approached by several equity and capital markets parties
with a view to a direct investment in HAW.