end of year sale?, page-58

Don`t think any one - with the honourable exception of Hawthorn`s Geo - has covered themselves in glory so far but if the commercial lawyers at HAW have left the Company in a position where LCY can now dilute it out of sight then it will be a disappointing example of serial (following on from the deal with LCY) incompetence - however we are not yet sure that this is the case.

Agree that LCY are doing everything that they can to delay drilling the layered haematite. Mapping and sampling is irrelevant duplication for the large (interpeted by HAW to extend 2.8kms )multi-layered deposit(s) that run from at a minimum drillhole MBC902 (still open to the south) at 240585E 6781446N in a NNW direction to at least drill hole MBC915 at 239383E 6784326N. See HAW`s ann of the 16th Jun 09 the June 09 Quarterly and - for a map on which to plot these co-ordinates - page 12 of HAW`s June 10 Quarterly.

HAW established the existence of these deposits through drilling years ago and further proved that the product is capable of being upgraded to iron fines by simple dry screening. This - and the Mt.Mason extension - are the stand-out priorities for both LCY and HAW and LCY`s current strategy seems no more than an attempt to weaken HAW to the advantage of LCY but the detriment of the project as a whole.It is at this point that HAW`s lawyers should be able to point to their 50/50 'say' and - if it has to go to Court - show easily that immediate exploitation of the haematite is a commercial no-brainer. Have they provided shareholders with even this much protection? - am starting to wonder!