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Hawsons Iron Ltd ( (AU:HIO) ) has provided an update.
Hawsons Iron Limited has secured firm commitments to raise A$2.2 million through a discounted share placement at A$0.016 per share, with participants also receiving unlisted options, and notable support coming from an international cornerstone investor and the company’s own board. The funds will be directed toward targeted initiatives to de‑risk and enhance the Hawsons Iron Project, including assessing the financial viability of a newly identified non‑magnetic iron byproduct, optimising waste handling via potential conversion from trucking to conveying, continuing metallurgical and processing test work to support financing and offtake negotiations, advancing environmental and heritage work under New South Wales regulatory requirements, and planning drilling programs ahead of a final Feasibility Study, which the board indicates will require separate funding and for which this placement is expected to be the last capital raise beforehand.
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 minerals company focused on developing the Hawsons Iron Project, a large-scale iron ore operation. The company is advancing studies and feasibility work aimed at producing high-grade iron products, with an emphasis on optimising project economics and securing strategic and cornerstone investors, project financiers and offtake partners in the iron ore market.
Average Trading Volume: 1,756,351
Technical Sentiment Signal: Strong Sell
Current Market Cap: A$22.01M
Learn more about HIO stock on TipRanks’ Stock Analysis page.