price prediction 2010, page-7

Happy New Year to all.

Agree Red Frog-in the context of the 100+ holes (in addition to significant prior drilling) that it will take to JORC Mt.Ida a further fund-raising would likely be required to put any of HAW`s Fe in the same category and the fact that both the BIF and the layered haematite extend far to the north of Mt.Bevan leaves it probably beyond HAW to prove up its`ground unless the overlying haematite-geothite layer can be beneficiated to produce saleable iron ore fines and thereby fund drilling going forward.They have been looking to achieve this for some time now and at the 31st Oct such work remained incomplete.The intervening 2 months should have been definitive for this screening and HAW should know by now whether they have to sell up/farm out.

Have had a couple of stabs at ball-park present worth of HAW`s Fe on HC.The commitment of Jupiter to JORC Mt.Ida (which itself has generally lower-grade magnetite and no commercial haematite) has itself-by greatly advancing the likelihood of the CYIOP-moved HAW`s resource further forward along Snowden`s range of in-ground IO value.This is very imprecise science and at this stage effectively an educated horse-deal but if HAW were to walk away right now would be very disappointed if they did so for less than A$75m or 5 cents per share.So no-personally don`t live in trepidation of a dramatic drop in the share price if we hear nothing further until the December quarterly-instead look forward to this eventuality as a buying opportunity.

Hold out no great hopes at Clarke River but the gold is a different story.Recent and historic results around Anglo-Saxon are near-surface and extensive with some very decent grades and exciting prospectivity.As to funding,there are over 14,000 oz (10,000oz net to HAW) in the dumps to help kick start things with if,as anticipated,the renewed resource calculations of the shallow oxide mineralisation at Anglo-Saxon prove positive.