Australia's Hawsons Iron rises on letters of intent for iron ore offtake
05/12/2022 24:10
** Shares of iron-ore producer Hawsons Iron Ltd HIO.AX
rise as much as 18.3% to A$0.110, set for their best day since
Oct. 24 — if gains hold
** Co agrees to non-binding Letters of Intent (LOIs) for
offtake of up to 58 mln tonnes per annum of its high-grade iron
ore concentrate
** Says current list of 18 potential off-takers,
predominantly targeting Asia and the Middle East, includes 12
steel mill operators and 6 commodity trading houses
** Shares hit their highest since Nov. 28
** As of last close, stock down 38% this year
(Reporting by Himanshi Akhand in Bengaluru)
((Himanshi.Akhand@thomsonreuters.com;))
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