today's trading, page-34

"JMS aims to consolidate prospective iron ore tenements at Mount Mason, Mount Alfred, Mount Bevan (Hawthorn Resources) and Mount Forrest (Mindax) into a single ownership or joint venture structure."

For me I think the only way for HAW'survival is JMS issues 100 milion shares to take over HAW, at 10:1 ratio.

For JMS, actually no cost to take over HAW, just issue more shares; for HAW, it has no more choice in the near future. Which means the SP could be around 1.6--1.8c if the bid coming. (Based on the recent news, anns, it's quite clear for me, but I donot know what the other sellers think.)

I also believe may be the main ore body is in HAW's tenement, because JMS's iron ore is near the surface,HAW's is deeper. Should the main ore body is a "U" shape, we can expect the major is in HAW's tenements.

Anyway, the iron ore is there, donot worry too much. As a 1c share, it's good enough. good luck!