Red Hawk Mining (ASX: $RHK) Quarterly Activities Report highlights

Red Hawk Mining Limited (ASX: $RHK) has released its Quarterly Activities Report for the period ended 31 March 2024. The company is making significant progress with the Pre-Feasibility Study (PFS) for the Blacksmith Project, aiming to deliver first iron ore on a ship by late 2025. The completion of a diamond drilling program has provided valuable material for metallurgical testing and customer samples, enhancing the understanding of geology and geotechnical conditions at the Project. Red Hawk has also formed a strategic partnership with MGM Bulk to optimize the haulage strategy, ensuring a high degree of certainty in operating and capital cost estimates. Additionally, the company successfully raised $11.12 million through an entitlement issue, with almost 90% of shares on offer being taken up by existing shareholders.

Executive Commentary

The Managing Director of Red Hawk Mining, Steven Michael, highlighted the significant progress made during the Quarter. He emphasized the company's focus on advancing the Blacksmith Project, with the PFS on track for release by the end of April 2024. The partnership with MGM Bulk is a key strategic move to optimize the haulage and logistics strategy, ensuring efficient operations and cost-effectiveness. The successful completion of the entitlement issue demonstrates the confidence and support of existing shareholders in the company's vision and strategic direction.

Summary of Red Hawk Mining's Quarterly Activities Report

Red Hawk Mining's Quarterly Activities Report showcases the company's dedication to advancing the Blacksmith Project. The imminent release of the Pre-Feasibility Study (PFS) by the end of April 2024 marks a significant milestone in the company's timeline to achieve first iron ore shipment by late 2025. The completion of the diamond drilling program has provided valuable insights into the geology and metallurgical aspects, enhancing the overall understanding of the Project. The strategic partnership with MGM Bulk to optimize the haulage strategy is expected to contribute to the efficient and cost-effective transportation of materials. The successful entitlement issue reflects the strong support from existing shareholders, providing the necessary capital to drive the Blacksmith Project forward. Red Hawk's proactive approach and strategic collaborations position the company for continued progress and development in the iron ore sector.