Ann: Optimisation Works Update Feb 2025, page-24

I do feel disappointed for HIO, they set themselves up to take advantage of any bit of luck that went their way by running on an oily rag, but that luck has never turned up. China never did a big stimulus, RBA never cut rates to below 3.5%, the Aus govt remains the most out of touch in a generation, the data room never got a serious investor and cousin MGTs appalling capital management put a sickness over the clean iron ore space. Nothing has gone their way over the last 2 years, maybe they can hold for another 3 months without a nasty deep deep discount equity raise