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Hawsons Iron (asx:hio) Progresses Hawsons Project

HAWSONS IRON (ASX:HIO) PROGRESSES HAWSONS PROJECT

Hawsons Iron (HIO), previously Carpentaria Resources, has updated the market on its Hawsons Iron Project in Broken Hill, NSW.

The company is now fully funded for the bankable feasibility study (BFS), following a capital raise of $35.6 million. The study is expected to be completed by December 21, 2022.

Progress on the BFS is on schedule, with priority early works underway.

Notably, the company has established a "COVID work bubble" to manage the pandemic challenges facing the project.

HIO has appointed a project team and environmental and engineering firm, GHD, to the Hawsons project.

Drilling contractors have also been selected with equipment and crew moving to the project.

Executive Chairman Bryan Granzien is pleased with Hawsons so far.

"The Hawsons Project will supply a product that will be in high demand from steelmakers who understand the benefits of producing 'green steel'," Mr Ganzien said.

"The core team is in place, we are building momentum, and I’m committed to our company delivering a bankable feasibility study that will lead to prompt development of the project. We will continue to keep the market updated as we progress on these matters."

Hawsons was down 4.26 per cent, trading at 9 cents per share at 12:58 pm AEST.