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Last A$0.0050 AUD
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As of 1:51 AM 08/28/15 All times are local (Market data is delayed by at least 15 minutes).

hannans reward ltd (HNR) Snapshot

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hannans reward ltd (HNR) Details

Hannans Reward Limited engages in mineral exploration and project development activities in Sweden and Australia. The company primarily explores for copper, gold, nickel, and iron deposits. It primarily holds 100% interests in the Pahtohavare copper-gold project located to the south-west; and the Kiruna iron project located to the south of Kiruna, Sweden. The company was founded in 2002 and is based in West Perth, Australia.

Founded in 2002

hannans reward ltd (HNR) Top Compensated Officers

Exploration Manager
Total Annual Compensation: A$157.7K
Compensation as of Fiscal Year 2014.

hannans reward ltd (HNR) Key Developments

Hannans Reward Ltd. Announces Commencement of Copper-Gold Drilling at Pahtohavare Project

Hannans Reward Ltd. announced that diamond drill testing of the high-grade copper-gold Central oxide deposit at the Pahtohavare Project has recommenced. Pahtohavare is located approximately 8km south-west of Kiruna, a full service mining town in northern Sweden. Hannans' joint venture partner, Swedish mining company Lovisagruvan AB1 is funding the costs of the program pursuant to the joint venture announced to ASX on 27 March 2015. Lovisagruvan are focused on assessing the potential to mine the Central oxide deposit by completing infill drilling and advanced metallurgical test work. The aim of this drilling (6 holes for 750 metres) is to test the continuity of mineralization between existing drill profiles of the northern part of the oxide deposit. The Central deposit contains a current JORC Compliant Inferred Mineral Resource Estimate2 of 1.4Mt at 1.8% Cu and 0.6 g/t Au (2.4% CuEq).

Hannans Reward Ltd Announces Copper Metallurgical Test Work

Hannans Reward Ltd. announced that metallurgical testwork on ore from the Central oxide deposit at the Pahtohavare Project has commenced and is expected to take seven weeks to complete. The Pahtohavare Copper-Gold Project is located approximately 8km south-west of Kiruna, northern Sweden. A field trip was completed last week to the project area where meetings took place with stakeholders and a key person involved with the mining of copper at Pahtohavare by previous owners. On the back of this successful field trip, Stage 2 metallurgical test work has now commenced. Final preparations are being made to commence a six hole diamond drilling program to further test the continuity of the Central copper-gold oxide ore body. The drilling is expected to commence in June. More specifically the Stage 2 testwork will include the following, generating a new master composite from available samples with resultant feed grade closer to the current resource grade of 1.8% Cu and 0.6 g/t Au. An acid leach followed by cyanide leach bottle rolls on weathered and fresh samples at varying crush/grind sizes (212-micro & 106-micro) to assess the amenability of deposit to traditional agitated leaching and continuous vat leaching (CVL). The recovery of copper and gold together with reagent consumptions will be assessed. Additional copper speciation testwork using the new master composite will be completed. Viscosity testwork to ascertain any material handling issues due to the presence of swelling clays, noting the presence of swelling clays from Stage 1 XRD testwork.

Hannans Reward Enters Joint Venture Agreement with Lovisagruvan AB

Hannans Reward Ltd. announced that it has entered into a joint venture agreement with Lovisagruvan AB in relation to the Pahtohavare Copper-Gold Project located near Kiruna, northern Sweden. The Pahtohavare Copper-Gold Project is 100% owned by Hannans' wholly owned subsidiary Kiruna Iron AB. Pahtohavare has a current JORC compliant inferred copper oxide resource1 of 1.4Mt @ 1.8% Cu, 0.6g/t Au (2.4% CuEq2) and substantial potential for additional copper sulphide and gold mineralization. Lovisagruvan will focus on bringing the oxide copper mineralization at the Central Deposit into production for early cash flow and will then investigate the potential for primary sulphide copper mineralization at depth. Lovisagruvan AB can earn a 35% interest in Pahtohavare by:paying Kiruna Iron AB a non-refundable amount of SEK 1,000,000 within 7 days (approx. AUD 150,000); completing additional metallurgical test work; drilling to improve the understanding of the oxide deposit and potentially increase the size, grade and category of the JORC compliant inferred mineral resource and drilling to collect sufficient quantity of a bulk sample to complete the necessary metallurgical test work to optimise OPEX, CAPEX and processing options for inclusion in a detailed scoping study. Lovisagruvan AB can earn a 51% interest in Pahtohavare by: lodging an exploitation concession application and environmental permit for the oxide deposit within approximately 18 months of signing this agreement and providing KIAB with an interest free working capital facility to the value of SEK 4,000,000 (approx. AUD 600,000) otherwise on normal commercial terms. Lovisagruvan AB can earn a 75% interest in Pahtohavare by delivering a Feasibility Study to KIAB within fourmonths of grant of an exploitation concession and an environmental permit. The study must be capable of being used by KIAB to access funding to contribute to development and mining. Iron AB will maintain a 25% free-carried interest in Pahtohavare through to a Decision to Mine at which time the both parties must contribute to costs on a pro-rata basis. If Lovisagruvan AB elects to withdraw from the joint venture it will transfer its interest in Pahtohavare back to Kiruna Iron AB for nominal consideration.


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