Ann: Annual Report to shareholders, page-17

From the September quarterly:

Whilst the Company still believes that the Government of South Africa supports the Company’s activities, there are no assurances that the future political and economic conditions in South Africa will not change and have an adverse impact on the Company’s activities (as outlined in the Company’s Prospectus dated 30 September 2016). As such, the Company continues to monitor the political and economic landscape of South Africa (and Africa generally) and will look to evaluate other assets in order to diversify its portfolio and limit its exposure to jurisdictional risk.

Interesting within the context of the last couple of days and what is currently happening in Zimbabwe.

HWK has been back trading now for ~8+ months and you'd have to think a new project is getting very close at this point. As has already been alluded to by Jezzy and minoil the top 20 is very attractive. Solid structure with ~276m shares on issue (48.16% held by top 20 at 27/09/17) and no listed/unlisted options.

Cash on hand should now be about $369k meaning that a placement or the actual vend should be on the horizon. Cash at the end of the year should be ~$249k. The Aeromagnetic Survey has now successfully been completed with interpretation work to commence immediately (as at 07/11/17). The proposed 6-8 hole Phase Two drill program should see the ASX satisfied with respect to HWK's pursuit of its re-compliance asset. Everything looks good for a move in the near term and potentially a very nice acquisition within the next few months.