Welcome to the new world of green steel, page-3

My take is that 12 months ago this was a far riskier investment however anyone doing their due diligence should assess the following

- Board instability now under control
- Pure Metals (the key instigator with regards to board instability is now GONE!)
- HIO now own 94% of the project with no Pure Metals JV
- BFS funding is now complete ($35m+ in the bank!)
- Green Steel (do your research!)
- Iron Ore price (currently well over DOUBLE the price from the 2017 PFS)
- High Grade Iron Ore demand outlook and need

Many elements of this project have now been de-risked. The one issue I see now as being the (biggest) risk is CAPEX funding. That said, with demands for high grade at all time highs, the price of iron ore well above historical averages - then CAPEX may in fact not be a big issue.

12 months ago this company was looking for a BFS funding through offtakes - now (with BFS fully funded) the company is in the enviable position to negotiate with steel mills around the world in a completely different way!

This company should be seen as an INVESTMENT. Not a stock to ‘trade’.

The world has changed with regards to emissions decarbonisation and so on…..google it - almost every country in the world is starting to change their laws around it….

And remember - the higher the grade of iron ore - the better it is for the planet. If you do your RESEARCH on all of the above you’ll see why this is (in my opinion) a life changing opportunity for those who are serious ‘investors’

Good luck in your decision making