Ann: Anglo Saxon Gold Project - Approval of Mining Proposal, page-26

This is a strange one, they haven't done anything with it since 2013, then out of no where mining approval, it's curious they didn't even release a forward looking statement nothing to go along with it or a review of the project for most companies this is a major milestone.

I also couldn't find a development plan, a scoping study or any real indication of what they plan to do with deposit, in 2013 they did say:

"Hawthorn will continue to keep shareholders informed of its progress towards production that, if economically and technically viable, is scheduled to commence in early 2014."

But nothing since then but silence, how are they planning to produce is a mystery, 285k is a good start, but no where near enough.

Eye balling the project I would for sure this near surface zone I highlighted is very profitable ounces, it holds the 63k indicated ounces and unknown number of the inferred but I am guessing at least another 50k oz.



What I would like to see is them look into the possibility of toll treatment, near surface soft rock decent grade maybe 100k ounces, easy money.

The project area is situated 35 kilometers to the east of the Carosue Dam Mill of Saracen Mineral Holdings Limited, seems kind of an odd thing to keep mentioning that in quarterlies could be a hint could be nothing.


If I was you I would call or e-mail them up ask them directly what the plan is, they aren't building a plant based off of 285k oz, so it's either toll treatment, sell it or a lot more drilling, if it's drilling I wouldn't worry about it you will be pushing up daisy's before that happens, if it toll treatment I would be very excited.