HIO bought Starlight out for $10M, which was a necessary and good investment, paid $2M for LDA fee, and an additional $12.4M for 20 Mtpa BFS option so that only leaves some $10.5M from the $35M raised last July. The good news is that I would expect that a high percentage of the work done to be transferable to the new scaled up option (to 20 MTA) to be announced following the strategic review. So, although the BFS may have been unnecessarily delayed, with the rapidly rising IO prices, and huge demand for the product demonstrated by the LOI, I do not believe much has changed from the days of $1.00, if anything the prospects have improved...
DYOR
HIO Price at posting:
10.5¢ Sentiment: Buy Disclosure: Held
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