Big time.

In afternoon trade on Tuesday, the All Ordinaries Index (ASX: XAO) is down a painful 2.0% amid global concerns over escalating tensions in the Middle East.

But that's not holding back this tiny mining stock, with investors heating up the buy button following a promising update on its iron ore project.

Shares in the ASX iron ore miner closed yesterday trading for 3.4 cents.

In earlier trade today, shares were changing hands for 5.7 cents apiece, up a whopping 67.6%. After some likely profit-taking, shares are trading for 4.8 cents at the time of writing, up 41.2%.

Any guesses?

If you said Hawsons Iron Ltd (ASX: HIO), give yourself a virtual gold star.

Here's what's piquing ASX investor interest.

What's sending the ASX iron ore stock surging?

The Hawsons Iron share price is flying higher after the company released an update on its Hawsons Iron Project.

This comes following a review of the results from work undertaken in response to the action plan recommended by the Strategic Review in February 2023.

Likely lifting the ASX iron ore stock today is the company's revelation that it has confidentially provided a detailed Information Memorandum (IM) with these results to seven potential strategic investors. This is aimed at helping fund the iron ore project's Bankable Feasibility Study (BFS).

The strategic investors, which include miners, trading houses and steel mills, were selected to undertake detailed due diligence appraisal for the BFS funding.

The miner also announced it has completed the Phase 2A Stantec testwork program and has confirmed and defined the base Phase 1 comminution flowsheet as well as the selection of major equipment for the project.

The high-grade magnetite concentrate will be transported to the Port of Adelaide by rail using existing transport infrastructure, which management said will significantly reduce upfront capital costs and project risk.

What did management say?

Commenting on the project update sending the ASX iron ore stock soaring today, Hawsons Bryan Granzien said:

We've completed the first stage of our strategic investor process and provided a copy of the IM, financial model and other associated documents to these parties who have qualified following initial presentations and discussions.

We aim to complete this strategic investor process within the next few months and commence work on the BFS immediately if successful.

Hawsons chair Jeremy Kirkwood said he was pleased by the potential partnerships for the project.

"This follows extensive work done by the Company that has set a solid foundation for such engagement after halting the previous BFS in October 2022," Kirkwood said.

Despite today's big lift, shares in the ASX iron ore stock remain down 20% over 12 months.

The post Guess which little ASX iron ore stock is surging 68% on big news appeared first on The Motley Fool Australia.

The ASX iron ore stock closed on Friday trading for 9.3 cents per share and is currently changing hands for 11 cents per share.

Here's what driving ASX investor interest today.

What are ASX investors considering?

The Hawsons Iron share price is rocketing following a non-price sensitive release announcing non-binding Letters of Intent (LOIs).

The LOIs are for the offtake of up to 58 million tonnes per annum (Mtpa) of high-grade Hawsons Supergrade concentrate. The miner said this reflects increasing pressure on the global steel industry to decarbonise production.

The current list of 18 potential off-takers include 12 steel mill operators and six commodity trading houses.

The Hawsons Iron share price may also be getting a lift from the report on demand from mining companies for offtake discussions once a Bankable Feasibility Study (BFS) is complete.

Commenting on the progress, Hawsons' managing director, Bryan Granzien said:

This level of investment interest in the project and robust offtake demand is clearly a strong demonstration that making the transition to producing zero-emission 'Green Steel' is front and centre on the global steel industry's planning horizon and that Australia is a preferred supplier of high-grade magnetite concentrate.

The miner indicated that there's plenty of demand to scale up its Iron Project.

"The LOIs we now have in hand provide additional confidence that there is more than sufficient market demand to support a modular expansion plan to 20 Mtpa," Granzien said.

Hawsons said it couldn't name the interested parties at this time due to commercial-in-confidence considerations.

Hawsons Iron share price snapshot

The Hawsons Iron share price notched up fresh five years highs in April this year but has since retraced. With today's big intraday boost factored in, the ASX iron ore miner is trading right where it was 12 months ago.

The All Ordinaries Index (ASX: XAO) is also flat over the full year.

The post Why is the Hawsons Iron share price rocketing 18% on Monday? appeared first on The Motley Fool Australia.

Today's movement brings further pain to shareholders, who have had to endure a 74% decline in the Hawsons Iron share price over the past month alone.

What's whacking the Hawsons Iron share price today?

The answer is likely to be the same issue whacking the major ASX iron ore shares today: China.

There's no price-sensitive news out of the small-cap miner today. However, it did lodge its presentation from the Noosa Mining Investor Conference with the ASX for shareholders to review.

The bigger issue for the iron ore miner today is the ongoing discussion about China's economic slowdown.

As we reported earlier, China's property sector has been decimated. This had led to lower construction activity and demand for steel, which has lowered the demand for Australian iron ore.

China's economy is also slowing because lockdowns enforced under the COVID-zero policy are disrupting industrial activity.

Over the past 18 months, this has led to a dramatic fall in the price of iron ore.

According to the Australian Financial Review (AFR), Reserve Bank deputy governor Michele Bullock says these two issues are among the bank's top concerns for the health of the Australian economy.

What's going on with the iron ore price?

Iron ore has gone from a record-high price of about US$240 per tonne in May 2021 to US$91.50 per tonne today.

That directly affects the earnings of every Australian iron ore business, regardless of whether they export to China specifically.

Today, Rio Tinto Limited (ASX: RIO) shares are down 0.4% to $98.21. BHP Group Ltd (ASX: BHP) shares are down 1% to $40.75. The Fortescue Metals Group Limited (ASX: FMG) share price is down 1.6% to $16.85.

Michael Slack of MCA writes on Livewire that the iron ore price could go down further due to an impending oversupply. As a result, his fund is underweight on iron ore companies.

Slack said:

Looking forward, we see growth in iron ore supply, particularly out of Australia, Brazil and Africa, exceeding growth in Chinese demand thereby pushing the iron ore market into surplus and impacting price.

If China continues along this path and allows the property sector to wallow, iron ore pricing and resource companies may suffer along with it.

Why has the Hawsons Iron share price lost 80%?

Hawsons Iron's woes don't just stop at the falling value of iron ore.

Some company-specific things are going on that have caused a massive drop in the share price.

As my Fool colleague Brooke reported, Hawsons announced it was pressing the pause button on its flagship project last month.

The need to preserve cash forced the decision to slow activity on the Hawson Iron Project's bankable feasibility study (BFS).

Shareholders had a negative reaction. In fact, they went crazy. The share price tanked 62% on the day of the news and it hasn't recovered since.

Prior to the announcement, Hawsons Iron had been one of the success stories of the S&P/ASX All Ordinaries Index (ASX: XAO) in 2022.

While most ASX shares had been falling this year, the Hawsons Iron share price had gone up 118% before the fateful news.

At today's Noosa Mining Conference, managing director Bryan Granzien said Hawsons had a "world-class resource" project. It is located in the Braemar iron region about 60km southwest of Broken Hill.

He reminded investors that it has a current JORC 2012 Resource of 3.9 billion tonnes at 12.3 DTR% for 481 Mt of concentrate. Hawsons also has a trademarked 'Supergrade' iron ore product with 70% Fe.

The post Why is the Hawsons Iron share price tanking 9% today? appeared first on The Motley Fool Australia.

This ASX mining share is exploding 39.54% at the time of writing to 30 cents per share.

Azure is an ASX lithium mining share and today the company has announced promising assay results.

As my Fool colleague James reported earlier, Azure has revealed further high-grade lithium assay results. They have come from the Andover Project's pegmatite exploration program in Western Australia's Pilbara.

The "very significant results" include the "highest lithium grade reported to date," according to the managing director of Azure, Tony Rovira.

Auking Mining Ltd (ASX: AKN)

This mining share is also enjoying an impressive day on the ASX, up 21% to 12 cents per share.

The company has exited a trading halt that it requested on Monday pending a statement.

All was revealed this morning with Auking announcing it has acquired six mining projects in Tanzania. Four are uranium prospects and two are copper prospects.

Auking also announced a two-stage capital raising to fund the exploration of the six projects.

The first stage involves a completed $1.37 million raising. This comprises the issuance of 13.75 million new shares at 10 cents per share under an existing placement capacity.

The second stage is subject to shareholder approval. It involves approximately 20 million new shares, also at 10 cents per share, to raise another $2 million.

The company said the issue price represents a 17% premium to the ASX mining share's 30-day volume-weighted average price.

Hawsons Iron Ltd (ASX: HIO)

This ASX mining share is mimicking its peer in also reaching 12 cents per share today, up 19%.

Today the company announced a "strategic review of the proposed Hawsons Iron Project's development to examine options to scale production up in stages".

Hawsons Iron managing director Bryan Granzien said the review would examine less expensive options.

This comes after the company announced on Monday that its bankable feasibility study had slowed. The study was analysing the preferred 20 million tonnes per annum (20 Mtpa) option.

Activity had slowed due to unexpected rises in infrastructure capital cost estimates, the company said.

The post 3 ASX mining shares going gangbusters today appeared first on The Motley Fool Australia.

Four ASX shares that are falling more than most today are listed below. Here's why they are dropping:

Adbri Ltd (ASX: ABC)

The Adbri share price is down 21% to $1.45. Investors have been selling down this building materials company's shares after it announced the exit of its CEO and released a disappointing trading update. The latter reveals that its profits will be down materially in FY 2022 due to higher costs.

Costa Group Holdings Ltd (ASX: CGC)

The Costa share price is down 13% to $2.01. This has been driven by news that Costa's Citrus operations have been underperforming due to adverse weather. As a result, Costa currently expects its full year group EBITDA-S to be marginally ahead of last year's results. This compares to strong first half EBITDA-S growth of 12.6%.

Hawsons Iron Ltd (ASX: HIO)

The Hawsons Iron share price is down a whopping 62% to 14 cents. This morning, Hawsons Iron revealed that escalating global costs and deteriorating economic conditions have necessitated a slowdown decision for the Hawsons Iron Project Bankable Feasibility Study. Management believes it would be prudent to preserve capital while examining all options to progress the project.

Medibank Private Ltd (ASX: MPL)

The Medibank share price is down 3.5% to $3.40. Investors have been selling this private health insurance giant's shares after it was the latest victim of a cyberattack. The good news is that Medibank appears to have responded quick enough to prevent any customer data being taken or ransomware being installed. The company has now deployed additional security measures across its network, strengthening the integrity of its systems.

The post Why Adbri, Costa, Hawsons Iron, and Medibank shares are sinking today appeared first on The Motley Fool Australia.

The company will slow activity on the Hawson Iron Project's bankable feasibility study (BFS) in an attempt to preserve cash.

The Hawson Iron share price has dumped more than half its value in response. It has tumbled 62.16% to trade at 14 cents at the time of writing.

Let's take a closer look at the news dragging the Aussie iron ore developer's stock lower on Monday.

What's going wrong for the iron ore developer?

The Hawson Iron share price is plummeting to its lowest point of 2022 so far on disappointing news of the company's namesake project.

The company will slow down its work on the project's BFS as it examines rising capital expenditure costs. As a result, the study will not be completed by December as was previously expected.

Managing director Bryan Granzien said the move will allow for the analysis of the project's capital and operating cost estimates and the review of all options for further progression, including scaling opportunities. Granzien said:

We have been left with no other choice given the current state of global capital markets and world economy.

Global inflation, rate hikes, and the war in Ukraine have brought "strong market headwinds", said chair Dave Woodall. He continued:

We, like many companies, are being challenged by the current economic climate, falling Australian dollar, supply chain cost escalations, and restricted access to equity markets which are beyond our control.

A project slow-down is the most sensible and prudent response to preserve capital, given global cost pressures, and will allow a focus on optimising pathways in the best interests of shareholders which are reflective of deteriorating world conditions.

Woodall also said the company's ability to raise capital over the coming year is contingent on certain resolutions to be put to shareholders at its annual general meeting (AGM). That's set to go ahead on 15 November.

The company started working on a BFS for a 10 million tonne per annum project in 2021. The study was later expanded to look into upscaling the production profile to 20 million tonnes per annum.

Hawsons Iron share price snapshot

The Hawsons Iron share price had been on a run prior to today's tumble.

It gained 118% between the start of 2022 and Friday's close. It's currently trading 20.5% lower year to date.

However, the stock is still 69% higher than it was this time last year.

The post Why did the Hawsons Iron share price just nosedive 62%? appeared first on The Motley Fool Australia.

At the time of writing, the Hawsons share price is 1.32% higher at 38.5 cents

In broader market moves, the S&P/ASX 200 Materials Index (ASX: XMJ) is one of the market's leading sectors today, 1.68% higher at the time of writing.

Returns for the Hawsons share price over these past 12 months are seen below.

What's up with the Hawsons share price?

Although it's been a busy day on the ASX today, there's been nothing price sensitive about Hawsons to comment on.

However, the company posted an announcement advising that the South Australian government has declared the Hawsons Iron Project an Impact Assessed major project.

The Hawsons Iron Project site is located about 60 kilometres southwest of Broken Hill, on the South Australian border.

The update makes the site "subject to a state-run process and determination of assessment requirements towards Environmental Impact Statement (EIS) obligations," the company said.

The declaration follows a federal government decision to renew the project's status as a "major project" for three or more years back in April.

Not only that, but the announcement notes the NSW Department of Planning and Environment has also declared the project a "State Significant Development".

Hawsons says the declaration reflects the Hawsons Iron Project's importance to green steel supply in South Australia.

Commenting on the update, Hawson's managing director Bryan Granzien echoed this optimism.

[T]his declaration reflects the importance and scale of the Hawsons Iron Project within South Australia and potential as the global steel industry aggressively pursues pathways to decarbonise.

Zooming out, the share price activity today extends a volatile period for the company this past month or so.

On 17 August, Hawsons saw heavy selling activity following legal action filed against it by battery metals exploration company Pure Metals. Hawsons noted the allegations to be "entirely baseless and without any foundation".

The Hawsons share price has faltered from 52-week highs of 88.5 cents on 2 May 2022.

Still, in the last 12 months, the Hawsons share price has soared more than 352% and is up more than 150% this year to date.

The post Why is the Hawsons Iron share price rangebound on Monday? appeared first on The Motley Fool Australia.

Shares of the iron ore producer finished the day at 42 cents each after opening the day at 32.5 cents a share.

The Hawsons Iron share price outstripped its sector peers by a wide margin with the S&P/ASX 200 Materials Index (ASX: XMJ) recording a 1.4% loss today.

Hawsons outperformed BHP Group Limited (ASX: BHP), which finished down 2.75% at $40.60 a share, and Fortescue Metals Group (ASX: FMG). Fortescue closed 2.06% lower at $18.42 per share.

Meanwhile, the spot price for iron ore is also down considerably today, trading 4.71% lower at $US104.92 per dry metric tonne, according to MarketsInsider.

There was also no news posted by the company today to justify the steep climb in its shares. So what's going on? Let's investigate by recapping some recent coverage about the company.

What's going on with Hawsons Iron lately

Most recently, on 17 August, the Hawsons Iron share price slumped 7% amid lower iron ore prices and the company rejecting court claims against it from Pure Metals.

Hawsons acquired Pure Metals' 24.15% interest in the Hawsons Iron project, completing its acquisition in May 2021.

On 5 August, there was more bullish news about the company. It was announced US investment firm LDA Holdings would finance Hawsons Iron to the tune of $200 million. The company's shares lifted from 30 cents to 31 cents per share on the day.

In light of these events and the price action of the broader market today, it seems the Hawsons Iron share price has decoupled from fears surrounding iron ore. These include pessimism surrounding the economic slowdown in China, the major customer for Australian iron ore.

It seems the emerging iron ore producer was writing its own script today.

Hawsons Iron share price snapshot

The Hawsons Iron share price is up 180% year to date. At the same time, the S&P/ASX 200 Index (ASX: XJO) is down 8% over the same period.

The company's current market capitalisation is approximately $311 million.

The post Why did the Hawsons Iron share price shoot 24% higher today? appeared first on The Motley Fool Australia.

Hawsons Iron shares closed yesterday trading for 32 cents and are currently trading at 29 cents, down 9.4%.

Part of the slump looks to relate to a modest decline in iron ore price, down 0.3% to US$140.05 per tonne. Investors may also be concerned about the mid-term demand outlook for the crucial steel-making metal from China, as the Middle Kingdom faces a slowing economy and fresh rounds of pandemic lockdowns.

Similar concerns could explain the 1% slump in the Fortescue Metals Group Limited (ASX: FMG) share price today.

There's no new price-sensitive news out in regards to the Hawsons Iron share price today.

However, the company did issue a release rejecting court claims against it from Pure Metals.

What court claims were made?

According to the release, the claims came to light in an article published by an Australian newspaper.

Hawsons Iron confirms it has been made a party to proceedings by Pure Metals. It adds that it considers the claims "entirely baseless and without any foundation".

For some background, Hawsons Iron completed its acquisition of Pure Metals' 24.15% interest in the Hawsons Iron Project in May 2021 in exchange for Hawsons issuing 90.8 million of its shares to Pure Metals.

Following shareholder approval in November 2020, a liquidator was appointed to Pure Metals' majority shareholder. This effectively gave it a controlling interest in Pure Metals.

With that in mind, Hawsons states, both parties agreed to issue the Hawsons Iron shares in two tranches rather than one. That was to prevent the liquidator from gaining a relevant interest in more than 20% of the company's shares.

Further, Hawsons Iron says:

Pure Metals claims that it has suffered loss resulting from the sale of the HIO Shares. The company considers that the issue of the HIO Shares to Pure Metals, an obligation of the company under the transaction, could not conceivably cause loss to Pure Metals, and that any claim by Pure Metals against the company is without merit and misplaced.

The miner says it will "vigorously defend the action".

Hawsons Iron share price snapshot

Despite today's slump, the Hawsons Iron share price remains a standout performer, up 161% over the past 12 months. That compares to a full-year loss of 5% posted by the All Ordinaries Index (ASX: XAO).

The post Why is the Hawsons Iron share price slumping 9% today? appeared first on The Motley Fool Australia.

Shares in the ASX computer chip processor have gained 40% in the last month, but have lost 12% in just the past week.

According to the Australian Financial Review (AFR), a relatively unknown US-based investment firm has played an influential role. 

The investment house LDA Capital reportedly has a financing arrangement with Brainchip. And it seems the company is not the only ASX micro cap it's supporting.

But more on that later. Let's focus on Brainchip first up. 

Brainchip and LDA Capital

According to the AFR, Branchip's financing arrangement with LDA Capital allows it to access between $20 million to $45 million across a one-year period. This arrangement reportedly started in August 2020. 

In return, LDA Capital is paid fees and provided 100 million options, leading it to bank tens of millions of dollars, the AFR reported.

LDA Capital decided to exercise 75 million options in January 2021. Half were exercised at an issue price of 15 cents a share and the other half at 20 cents per share. 

The AFR also noted Brainchip had requested an extension to draw the minimum amount under the facility, enabling it to access a further $35 million.

LDA Capital's latest ASX coup is Hawson Iron Ltd (ASX: HIO) which, in December 2021, said it had secured $200 million in funding. 

What is Hawson Iron? 

The business holds a 100% interest in the Hawsons Iron Project outside Broken Hill in New South Wales, as well as other magnetite interests in the emerging Braemar Iron Province. 

The project is striving to produce the world's highest grade iron product to steelmakers who understand the benefits of producing 'green steel'. That's according to the company's latest quarterly report. 

Similar to Brainchip, Hawson Iron is yet to generate a profit and both companies remain highly speculative investments. But this appears to be the type of business that LDA Capital caters for globally.

GetSwift Ltd was another company within LDA Capital's portfolio.

The former ASX-listed logistics software company, founded by former media executive Bane Hunter and retired AFL player Joel Macdonald, recently filed for bankruptcy, according to media reports.

Tread with caution

Unprofitable companies with unproven business models are often risky. When you add in significant leverage, it often creates a recipe for disaster. 

Whilst GetSwift presents the worst-case scenario, I believe it's imperative for investors to tread carefully in such murky waters. 

The post This US investment house has made tens of millions from Brainchip. Guess which other ASX share it's backing appeared first on The Motley Fool Australia.

The iron ore producer's shares are rising 6% at the time of writing, trading at 43.5 cents. For perspective, the S&P/ASX 200 Materials Index is jumping 1% today.

Let's take a look at what Hawsons Iron reported to the market.

Resource upgrade

Hawsons advised that its mineral resource estimate has jumped by 21% from 400 to 484 million tonnes. This is at the Hawsons Iron Project near Broken Hill in New South Wales.

The measured and indicated resources leapt 87% from 132 to 247 million tonnes. This includes a measured resource of 54 million tonnes and an indicated resource of 193 million tonnes.

Given the strength of this resource, Hawsons predicts it can meet its target of producing 20 million tonnes of concentrate per year.

Commenting on the news, managing director Bryan Granzien said:

This upgrade is significant because having these Mineral Resources in the higher confidence
measured and indicated categories is necessary for the BFS and finalising our project financing package.

We are absolutely delighted with the outcome which now sets the scene for getting on with the next
stage of the BFS, including completion of our detailed mine design and engineering.

Granzien highlighted the new mineral resources estimate will assist in discussions with potential project financiers.

The iron ore price is up 0.97% and trading at US$104 per tonne, trading economics data shows.

Hawsons Iron share price snapshot

The Hawsons Iron share price has surged 156% in a year and 190% in the year to date.

For perspective, the Materials Index has shed nearly 16% in a year.

Hawsons has a market capitalisation of about $322 million based on the current share price.

The post Why is the Hawsons Iron share price hiking 6% higher today? appeared first on The Motley Fool Australia.

Hawsons Iron shares are presently trading at 41.8 cents each, down a nasty 2.91% from where the company closed last week. Rather perplexingly, this sharp move downwards comes after Hawsons initially spiked to 44 cents a share (up more than 2%) soon after market open today.

So what's going on here?

Why is the Hawsons Iron share price lagging other ASX iron miners today?

Well, it's a strange move to be sure. The iron ore price itself (normally a barometer for iron miners like Hawsons) is having a very strong start to the week.

As my Fool colleague Aaron covered this morning, the iron price is today fetching US$104.55 a tonne, up a pleasing 5.9% from where it was at the end of last week. As one would expect, many ASX iron mining shares are surging amid these pricing moves.

Take Fortescue Metals Group Limited (ASX: FMG). Fortescue shares are advancing decisively today, currently up 1.46% at $18.09 each. BHP Group Ltd (ASX: BHP) is also rising, up 1.63% at $37.35 a share.

So it's unclear why Hawsons Iron shares are missing out on this party. Hawsons hasn't put out any ASX announcements or any other news that might be dragging on its share price. Perhaps, after rising more than 144% in 2022 thus far, investors aren't willing to extend Hawsons any more rope at this time. But it's hard to know for sure.

In the meantime, the current Hawsons Iron share price gives this ASX mining share a market capitalisation of $309.4 million.

The post What's with the Hawsons Iron share price on Monday? appeared first on The Motley Fool Australia.

The iron ore developer and producer has entered a two-year option agreement that could see it snapping up land suitable for an export facility.

At the opening bell on Monday, Hawsons Iron shares shot up to 49.5 cents – representing a 12.5% gain. However, they have since given back those gains, and some. At the time of writing, the Hawsons Iron share price is 42 cents, down 4.55%.

Let's take a closer look at today's news from Hawsons Iron.

What boosted the Hawsons Iron share price today?

Hawsons Iron stock surged in morning trade following news of a deal that could see it buying 1,000 acres suitable for developing a deep-water export facility for $14 million.

The land spans three plots and is located at Myponie Point on South Australia's eastern Spencer Gulf.

Under the agreement, Hawsons Iron will have the option to buy the land for two years after the execution date. The agreement brings the company closer to its goal of supplying high-grade iron ore products.  

It comes on the back of a memorandum of understanding between the company and Flinders Ports. This sees the pair agreeing to work together to design, construct, and operate the Myponie Point Port. The end goal is the export of 20 million tonnes of magnetite concentrate each year.

The port is expected to be able to export Hawsons' 70% iron magnetite concentrate by the second half of 2024.

Hawsons Iron managing director Bryan Granzien commented on the news driving the company's share price today:

This agreement secures a crucial export site required for the planning and development of our 20 million tonnes per annum project and importantly provides significant additional space to accommodate expansion of the Myponie Point Port into a multi-user, bulk commodity export facility.

Now that we have identified our port location, planning and detailed design work can continue on the deep-water port facility and the underground slurry pipeline from Broken Hill, including all approvals and land access agreements along the 392-kilometre pipeline route.

The Hawsons Iron share price is currently 180% higher than it was at the start of 2021. It has gained 167% since this time last year.

The post Here's why the Hawsons Iron share price spiked 12.5% on Monday appeared first on The Motley Fool Australia.

Shares of the ASX iron ore developer and producer closed yesterday at 39 cents and are currently trading for 48 cents.

So, what's piquing investor interest today?

Larger project output embraced

The Hawsons Iron share price is rocketing after the company updated the market on its plans for the Hawsons Iron Project in New South Wales.

The company's Board said the Bankable Feasibility Study (BFS) for the project will now be solely on developing a 20 million tonne per annum (Mtpa) project.

The larger scope is expected to deliver better Environmental, Social and Governance (ESG) outcomes and project economics than the alternate 10 Mtpa project. Capital costs will be higher.

The Board made its decision in light of the project's Mineral Resource upgrade to 400 million tonnes, announced on 19 October.

Commenting on the decision, Hawsons Iron chair Dave Woodall said:

The team of leading global partners and specialists we've engaged to complete the BFS now have the additional information required to undertake detailed engineering design and update the project's estimated delivery timetable which we will release once completed.

Woodall added that the company still aims to complete the BFD by December 2022, with the first production from the project expected in the second half of 2024.

Also likely helping lift the Hawsons Iron share price today was its report that it had reached a non-binding Memorandum of Understanding (MOU) with Flinders Ports to co-operate on the potential development and operation of the Myponie Point Port.

Hawsons managing director Bryan Granzien said the MOU would see Flinders Ports "finance, construct, own and operate the Myponie Point Port". This would significantly cut back the company's own CapEx for the project.

According to Granzien:

Our decision to focus the BFS solely on development of a 20 Mtpa project and this milestone MOU with an operator of Flinders Ports' calibre have advanced Hawsons closer toward achieving our goal of meeting demand for high-grade products so essential for decarbonising steel making…

Myponie Port is expected to be ready to start exporting Hawsons' unique 70% Fe Hawsons Supergrade magnetite concentrate by the second half of 2024.

Hawsons Iron share price snapshot

The Hawsons Iron share price has been a stellar performer, gaining 267% over the past 12 months. To put that into some context, the All Ordinaries Index (ASX: XAO) is down 11% over that same time.

The post Here's why the Hawsons Iron share price is rocketing 25% today appeared first on The Motley Fool Australia.

The company's shares accelerated from 28 cents on 1 April to reach an all-time high of $1.08 during intraday trading on 3 May, before ending the day at 72 cents. At its intraday high, this represented an astonishing gain of around 285% in a little over a month.

However, since then, the resource developer's shares have continued to trend lower.

At Friday's market close, the Hawsons Iron share price finished 2.08% higher at 49 cents.

What's happened to Hawsons shares?

A couple of company announcements during April helped drive up the Hawsons share price.

However, the general market downturn on the All Ordinaries Index (ASX: XAO) has since created strong selling pressure.

For context, as at Friday's close, the All Ords had lost more than 8% since 1 April. Fears about rising interest rates and the risk of recession in the first half of next year have weighed on investor sentiment.

While Hawsons shares have dipped to mid-April levels, they are still up by around 190% so far this year.

The company is focused on developing the Hawsons Iron Project in Broken Hill, New South Wales. Discovered in 2009, it is considered to be the world's biggest, undeveloped, high-quality iron ore project.

Following a successful pre-feasibility study in 2017, management is now focused on progressing the project. This includes progressing a bankable feasibility study, obtaining a mining lease and beginning production by mid-2024.

Is the Hawsons Iron share price set to fall further?

Previously known as Carpentaria Resources, Hawsons Iron shares have surged by around 280% over the past 12 months.

While it's anyone's guess what will happen over the long term, for now, the company's shares appear destined to fall further. This is due to Wall Street entering bear market territory last night Aussie time, which is set to cause widespread sell-off on the ASX today.

Based on the last closing price, Hawsons commands a market capitalisation of roughly $347 million.

The post Is the party over for the Hawsons Iron share price? appeared first on The Motley Fool Australia.

At the time of writing, the resource developer's shares are up 3.28% to 63 cents.

What did Hawsons announce?

In the morning, Hawsons provided investors with a board appointment, pushing its shares higher.

According to its release, Hawsons announced the inclusion of experienced resources industry professional, David Woodall to its board.

Serving as a non-executive chair effective today, Mr Woodall brings a wealth of experience to the role. His knowledge spans across the energy industry in the last 50 years with a focus on both commercial and not-for-profit sectors.

Mr Woodall sat on the boards of Ergon Energy, Energex, Tarong Energy Corporation, Terra Gas Traders, Starfish Windfarm, and others.

He spent many years at Australian mining company MIM, culminating in the role of executive general manager in marketing and commercial.

Mr Woodall also served as the managing director at Grainco Australia, a major bulk agri-commodity marketer and handler.

Furthermore, Mr Woodall has a high level of Chinese skills, having taken up several terms as chair of the Queensland – China Council.

Current executive chair, Bryan Granzien commented:

Dave has been involved with Hawsons for almost 18 months now, most recently as a member of our Advisory Committee appointed earlier this year to provide the Board with strategic advice on the progress and quality of our bankable feasibility study (BFS).

I look forward to working closely with Dave to realise the exciting opportunity for our company and Hawsons Iron Project to be a leading supplier of high-quality magnetite, vital to lowering emissions in 'green steel' making.

Mr Granzien will move into the performance-management role of managing director and concentrate on the delivery of the Hawsons Iron Project's BFS.

Hawsons share price snapshot

Over the last 12 months, Hawsons shares have accelerated by more than 475%.

The company's share price reached an all-time high of $1.08 per share earlier this month, before retracing to 60 cents.

On valuation grounds, Hawsons has a market capitalisation of around $443.33 million, with almost 715.06 million shares on its registry.

The post Here's why the Hawsons Iron share price is climbing today appeared first on The Motley Fool Australia.

Hawsons Iron shares dipped to an intraday low of 56 cents in early trading — a 9.7% drop on yesterday's close of 62 cents. Then just after noon, the iron ore explorer announced it's another step closer to bringing its flagship project to life.

Management has appointed Australian Mine Design and Development (AMDAD) as the mining consultant. This follows the awarding of other key Bankable Feasibility Study (BFS) contracts earlier this year.

AMDAD will be responsible for preparing a complete mine plan. This will include final pit design, mining sequence, implementing schedules, fleet composition, mine power requirements, and costings and pathways to net-zero emissions.

Hawsons Iron trying to reach net zero

Just prior to AMDAD's appointment, management received a report from the consulting arm of Worley Ltd (ASX: WOR), Advisian. The report detailed the ideal energy balance to optimise the project's ESG and sustainability outcomes.

Hawsons Iron's executive chairman Bryan Granzien said:

Advisian has also developed a sustainability framework to enable us to embed material sustainability considerations within the project's decision making and value improvement processes.

The aim of this framework will be to minimise any exposure to risks from material sustainability issues and maximise any opportunities for beneficial outcomes.

Hawsons Iron outshines other ASX resources shares

Many ASX resources shares are on the nose on Thursday. The large crash in US equities last night and lower commodity prices are to blame.

Sector leaders like Rio Tinto Limited (ASX: RIO), Fortescue Metals Group Limited (ASX: FMG), and BHP Group Ltd (ASX: BHP) are down 1.5% to 2%.

At the time of writing, the Hawsons Iron share price has recovered almost all of this morning's losses. It is now down just 0.81%.

Rain presents a challenge

Hawsons Iron is developing the Hawsons Iron Project, which is 60km southwest of Broken Hill in New South Wales.

That region is experiencing very wet weather that is hampering the miner's operations. It is trying to mitigate this and expedite analysis on a large number of drill samples it has dug up.

Granzien added:

The Bureau Veritas laboratory in Adelaide has been working 24/7 on the analysis of 500 samples a week to generate the assay results required to update the project's Mineral Resource estimates as scheduled before the end of this quarter.

Everyone's been working around the clock to ensure we can deliver on time and meet our schedules despite ongoing weather disruptions.

Longer-term Hawsons Iron shareholders are unlikely to worry about today's share price volatility. The shares have gained more than 400% in value over the past 12 months.

The post Hawsons Iron share price slumps 9% then rebounds following project update appeared first on The Motley Fool Australia.

Despite the company not releasing any announcements since its quarterly report in late April, its shares have been volatile.

At the close of trading today, the resource developer's shares were swapping hands for 52 cents apiece, up 4%.

For context, its shares were trading at an intraday low of 42 cents, down 16%, during market open.

What caused the significant turnaround?

The broader recovery on the All Ordinaries Index (ASX: XAO) provided support for the Hawsons Iron share price.

The index was recording heavy losses within the first hour of trade, however, bargain hunters swooped in, leading to a turnaround. The All Ords ended the day down 0.99% to 7,285 points, a far cry from 7,158 points in the morning.

Investors appear to have taken advantage of the recent Hawsons Iron share price weakness. A fall of 23% yesterday followed three other big losses over the past week, which has seen it drop back to mid-April levels. This is after the company's shares went on a wild ride from 26 cents at the start of April to $1.08 on 3 May.

Hawsons Iron is developing the Hawsons Iron project in Broken Hill, New South Wales.

Management is focused on turning the project into a producer of high-quality iron ore products for the global steel industry.

Following the successful pre-feasibility study results in 2017, the company is now focused on progressing the Hawsons Iron project. This includes advancing a bankable feasibility study, securing a mining lease, and commencing production by mid-2024.

Hawsons Iron share price snapshot

The Hawsons Iron share price has rocketed an astonishing 1,040% over the past 12 months.

The incredible feat led the company, formerly known as Carpentaria Resources, to touch an all-time high of $1.08 earlier this month. However, the strong acceleration was short-lived with its shares crashing back to the 50-cent mark.

Based on today's price, Hawsons Iron commands a market capitalisation of roughly $378.98 million.

The post Why did the Hawsons Iron share price stage such a stunning comeback today? appeared first on The Motley Fool Australia.

The explorer's shares opened at 65 cents and fell a whopping 23.08% through the day to close at 50 cents. For perspective, the S&P/ASX 200 Index descended 1.18%.

Let's take a look at what might have impacted the Hawsons Iron share price today.

Iron ore prices plunge

The Hawsons Iron share price has been volatile in recent days. In today's trade, it dropped massively despite no price-sensitive news from the company.

It's likely that sinking iron ore prices could be impacting the company's share price. Singapore iron ore futures dropped 6.7% in global markets to US$128.75. Iron ore on China's Dalian Commodity Exchange also gravitated more than 5% on Friday after traders reacted to China's COVID-19 zero policy.

Shares of iron ore producers Fortescue Metals (ASX: FMG) and BHP Group Ltd (ASX: BHP) also dropped 5.76% and 1.26% respectively today. Meanwhile, the S&P/ASX 200 Resources Index (ASX: XJR) fell 1.89%.

Hawsons is exploring the Hawsons Iron Project near Broken Hill in New South Wales. This project received a three-year major project status renewal in March.

The company's share price soared nearly 59% between market close on 27 April and 2 May. Investors appeared to react positively to the quarterly report released on 29 April. The company reported a cash balance of $18.377 million. However, since the market close on 2 May, the company's share price has slipped 43%.

Hawsons Iron share price snapshot

The Hawsons Iron share price has exploded more than 1000% in a year and is up 233% this year-to-date.

In contrast, the benchmark S&P/ASX 200 Index (ASX: XJO) has returned less than 1% in the past year.

Hawsons has a market capitalisation of about $357.5 million based on today's share price.

The post Why did the Hawsons Iron share price plunge more than 23% today? appeared first on The Motley Fool Australia.

Making its slump more interesting, the price of iron ore has increased 1.4% to reach US$144.90 a tonne.

At the time of writing, the Hawsons Iron share price is 64 cents, 9.2% lower than its previous close.

For context, the All Ordinaries Index (ASX: XAO) is also trading lower today. The benchmark index has dropped 2.4%.

Let's take a look at what's been happening with the iron ore developer's stock today.

What's going on with the Hawsons Iron share price?

Hawsons Iron's stock is struggling alongside the broader market on Friday.

For those not familiar with the company, it was formerly dubbed Carpentaria Resources, trading under the ticker code ASX: CAP.

Hawsons Iron is developing the Hawsons Iron Project in Broken Hill, NSW. According to the company, the project could produce the world's highest-grade iron products.

Today's slump sees the stock dumping most of the 10% gain it recorded yesterday. In fact, the stock has been notably volatile lately.

It surged 18% on Monday. It then hit a new 52-week high of $1.08 on Tuesday before slumping to close 18% lower. It continued that fall on Wednesday, plunging 11%.

Though, long-term shareholders appear to have been rewarded for their suffering.

The Hawsons Iron share price has gained 80% over the last 30 days and 282% since the start of 2022.

The post Hawsons Iron share price tumbles another 9% on Friday. What's going on? appeared first on The Motley Fool Australia.