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Hawsons Iron Ltd ( (AU:HIO) ) has issued an announcement.
Hawsons Iron Limited has completed the Preliminary Feasibility Study (PFS) and declared a maiden JORC-compliant Probable Ore Reserve of 2.3 billion tonnes for its Hawsons Iron Project, underpinning a 26-year mine life based solely on reserves. The independently prepared PFS outlines a development plan to produce up to 12 million tonnes per annum of 68%-plus Fe magnetite concentrate, with a production target of 257 million tonnes over the mine life, pre-tax NPV of A$1.36 billion, pre-tax IRR of 10.93%, and total initial capital of about A$4.96 billion over two stages, confirming the project’s economic viability in the current premium iron ore price environment and defining key risks and optimisation opportunities for the upcoming full Feasibility Study. The company has set a forward work program including large-scale confirmatory test work, byproduct viability assessments, additional drilling to upgrade resources, pilot-scale processing studies, waste handling optimisation, commencement of the Feasibility Study, and progression of environmental and permitting activities to align with development timelines. In parallel, Hawsons has strengthened its board with the appointment of experienced corporate and resources lawyer Meredith Campion as non-executive director and the promotion of Tom Revy to managing director, while long-serving director Tony McGrady has retired from the board but remains as an adviser, changes that are expected to bolster governance and leadership as the project advances toward development.
The most recent analyst rating on (AU:HIO) stock is a Hold with a A$0.02 price target. To see the full list of analyst forecasts on Hawsons Iron Ltd stock, see the AU:HIO Stock Forecast page.
More about Hawsons Iron Ltd
Hawsons Iron Limited is an Australian resources company focused on developing the Hawsons Iron Project, a magnetite iron ore operation designed to produce high-grade (+68% Fe) magnetite concentrate. The project targets premium iron ore markets, including potential use in direct reduction iron (DRI) applications, positioning the company within the higher-grade segment of the global iron ore industry.
Average Trading Volume: 1,756,219
Technical Sentiment Signal: Strong Sell
Current Market Cap: A$22.01M
See more insights into HIO stock on TipRanks’ Stock Analysis page.