Hawsons - The last year in review

A follow on from “A (not so) brief chronology of CAP/HIO which most of you have read:

https://hotcopper.com.au/threads/a-not-so-brief-chronology-of-cap-hio.6523352/?get_post=true

For those wanting a quick refresher or those new to Hawsons, here is a summary of the last year in review (credit to @TFG as I have copied some of this from his posts and thought it was worth putting it together in one spot) done over a good bottle of red so excuse any typos!

Apr 2023

Former Chairman announced intention to resign on 1 July 2023 and then brought forward retirement plans to 16 April 2023 ….. a shareholder notice was received on 11 April 2023 seeking to remove the former Chairman as a Director

May 2023

Jeremy Kirkwood appointed as Director

Oct 2023

Jeremy Kirkwood announced as Chairman

May 2024

Announcement that the former Managing Director would retire effective 5 July 2024 ..... Tom Revy appointed as CEO ….. his background is a metallurgist and process engineer, so he understands what’s in the dirt, the different way it can be processed and how to get the best outcome from the different processes available. …..at some stage after his appointment, he obviously asked the question “I wonder if dry grinding will work” and set out to test that question

Sep 2024

ASX announcement advising a process optimisation study will be commenced which included a focus on the reduction of water quantity required

Oct 2024

ASX announcement for optimisation works update which included the potential to reduce water requirements, and second phase commenced ….. Tom’s idea looks to be testing up well

Nov 2024

ASX announcement Optimisation Works Identified Cost-Effective Dry Milling Processing including 100% dry circuit to be investigated given scope for significant cost, environmental, scheduling and permitting benefits ….. Tom’s idea could have more significant benefits and worth doing some more testing

From the Chairman’s address at the AGM – “At the end of May we appointed Tom Revy as our Chief Executive. Tom came to us with a background as a metallurgist, consulting engineer….Since commencing as CEO, he has identified a number of opportunities to refine or optimize our development pathway. These include a dry comminution process as opposed to the ‘thirsty’ process currently in our design circuit….These initiatives could very materially impact the project economics favourably. Consequently, the board is beholden to pursue these initiatives and determine the achievability and impact of them on the project before we negotiate terms with strategic investors. Therefore, the timetable for bringing the Strategic Investor process to a close has been extended”

Feb 2025

Optimisation Works Update

Apr 2025

As part of the quarterly update “Process optimisation activities successfully completed as planned” “Process optimisation has resulted in a simplified process flow sheet, significantly de-risking the project using a proven technical process, but new to treating magnetite material” “– large scale pilot plant trial on target for completion in 2H 2025”

May 2025

Project Report findings support Dry Processing Circuit ….. whilst the Dry Processing has been getting the headlines, just as important was:

* the completion of the Mineral Resource variability study demonstrates a high level of geochemical and physical material consistency, throughout the current Mineral Resource, particularly within the early phase of operations, which significantly contributes towards de-risking the Project during its early years of operation; and
* The Project Report provides confidence for further investigation into potential secondary products (e.g. hematite, silica sands) and flow on optimisation of mine design, processing & logistics

Website and branding updated and company presentation released via social media channels

As a result of the above and other work, our process flow chart has gone from this




To this:



The Dry Processing Circuit is material because it:

• Reduces capital costs
• Reduces operating costs
• Eliminates the need for a traditional tailings dam
• Reduces permitting time and requirements
• Therefore, materially improves economics of the project and reduces risk

What’s next:

• Maiden Ore Reserve for the project
• Updated Prefeasibility Study incorporating dry processing
• Further investigation of the potential of secondary products, being hematite and silica sands

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