Iron Awe - how and why HIO could 100X, page-653

@FreeflyerNZ - I'm curious to know how you came across HIO, please let me know.

In response to your questions, I think the EIS is progressing, but can't be certain. I'm not expecting any surprises because there has been some work being done on this for many years, not something they just started.

In respect to JV and delays post PFS, I put this down to a dysfunctional board and JV partner (Pure Metals). These issues were all put to bed late 2020 and early 2021. If you what to get a sense of what the board used to be like, have a read of Quentin Hill's letter to shareholders before the EGM in late 2020 (when HIO was Carpentaria Resources). Since JV was restructured and new board in place, the handbrake was released and HIO is progressing well and achieved a lot in 12 months.

In respect to Starlight JV, they are only around 6% and whilst they are said they would contribute, they are not currently contributing. I see this as a good thing as their percentage interest in the JV will reduce. BFS is still fully funded so will not slow progress.

Only hurdle myself and a few others have found is raising construction capital. With LDA deal providing $200M, it gives increased confidence it will be possible. Also, go back and have a look at the deal that was in place with Mitsui (when HIO was Carpentaria) as that should give you confidence that offtake deals to assist with construction funding are not just possible, but likely.

Happy researching. I don't expect you will find any other major risks (other than usual risks with starting a new mine). But if you find something of concern, then please post as I suspect it will have been considered by someone on this forum before and if not, we will all learn something.