I don't really think you can have a crack at anyone selling. The facts materially changed today, so people are allowed to change their mind.
I think these guys could be the canary in the coalmine for a lot of junior resource companies (including hot ones like lithium) that are going to have a bad 6-12 months at least. MGT is unsurprisingly selling off too. It's worth remembering that MGT used to be called Royal Resources (ASX:ROY) and back in 2011 they were all excited about their Razorback Magnetite Project etc etc. By 2014 it still hadn't got out of the ground. Fast forward to 2021, and a decade later, renamed MGT and under new management, it was the next hot resource stock. Same thing here. As everybody knows, HIO's former life was CAP and back in mid-2009 they were excitedly talking about their Hawsons Magnetite project. These things go in cycles.
HIO Price at posting:
14.5¢ Sentiment: None Disclosure: Not Held
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