Hawthorn Resources Limited (AU:HAW) has released an update.
Stay Ahead of the Market:
- Discover outperforming stocks and invest smarter with Top Smart Score Stocks
- Filter, analyze, and streamline your search for investment opportunities using Tipranks' Stock Screener
Hawthorn Resources Limited has confirmed to the ASX that Hancock Magnetite Holdings Pty Ltd’s stake in their joint venture has increased to 51% following a prefeasibility study. The study’s financial analysis reveals that cash flows from indicated resources alone cannot offset capital expenditures, thus no JORC compliant ore reserve was reported. Additionally, the company’s long-term mine model is primarily dependent on inferred and ‘unclassified’ resources, which carry assumptions about their metallurgical properties that further testing may challenge.
For further insights into AU:HAW stock, check out TipRanks’ Stock Analysis page.