Iron ore and the Mt Bevan tenement has always been high on the radar when you talk of Hawthorn Resources, with gold in second place and uranium a distant third. I am thankful that the uranium push has dropped off and probably we will see the tenement "farmed out" or even sold in the short term. It seems that there may be massive amounts of iron ore, both in magnetite and hematite in the Mt Bevan tenement, but alas it seems too difficult to find a large pod of economic ore at this stage. Maybe the short term future success of this interesting speccy lies in the gold tenements around South Laverton, which includes trouser leg and deep south. I think if you search the records there is an old jorc resource for the trouser leg project around 150,000 oz. inferred, you would hope that there has been plenty of recent drilling on this tenement. I understand that Saracen have a gold mine in the immediate area, I don't think the equipment is being economically used at this time. This situation seems ripe for the pickings and you would think that toll treatment using this facility would not be out of the question, with advantages for Saracen and whoever is supplying the ore. Why shouldn't this party be hawthorn if the gold is proven to be economic to mine, solving haws' cash flow problems and allowing them to fully investigate and drill the Mt. Bevan iron ore tenement. I don't think the waiting game being played by JMS in particular will be resolved as far as Mt Bevan is concerned until we can prove substantial resouces in magnetite and more particularly hematite. I feel we may run out of cash before this will eventuate and going back to the shareholders or private placements for funds will never be the answer, there has been too much dilution already. Anyone any thoughts
HAW Price at posting:
0.6¢ Sentiment: LT Buy Disclosure: Held
