Hawsons Iron Limited has addressed concerns raised by the ASX in relation to a recent surge in trading activity. The company’s response comes after questions about an increase in its share price—from a close of 0.016 on May 26, 2025, to reaching a high of 0.031 on May 28, 2025—and a marked rise in trading volume. In its detailed reply, Hawsons Iron Limited confirmed it is not aware of any undisclosed information that might have contributed to the recent market activity. The company explained that the only relevant announcement was made on May 22, 2025, when it provided an update on its dry comminution test work program and Mineral Resource variability study at the wholly owned Hawsons Iron Project. According to the response, the information was fully disclosed at that time, and there are no additional factors influencing the surge in the security’s trading behavior. Hawsons Iron Limited also reaffirmed that it remains compliant with all relevant Listing Rules, specifically Listing Rule 3.1, and confirmed that its responses have the proper board authorization as required by its continuous disclosure policy. In terms of market sentiment, the news offers mixed signals. On the bullish side, the company’s proactive disclosure regarding the test work program and resource study could indicate that progress is being made on its core project, potentially attracting investor interest and optimism about future outcomes. Conversely, the bearish sentiment may stem from the fact that the price increase and volume surge were not driven by any new or additional substantive developments, which might temper expectations among more cautious traders looking for stronger catalysts. Overall, the clarity provided by Hawsons Iron Limited and its adherence to regulatory requirements are likely to reassure market participants who value transparency, while the lack of new information may leave some investors waiting for more decisive project milestones to drive a sustained upward trend.