Ann: Strategic review to consider project scale up options, page-57

Could the announcement be after citi (or a hedge fund associated) put a massive short on HIO and now they have the funding to say we will give you enough to make the 5Mt or 10Mt project and in a month will announce that HIO received funding to go ahead with the project along some assistance from the government and nobody is any wiser. It's a huge deposit of high quality iron ore, HIO wouldn't want to give this up after all the announcement of how big the ore body is and on the verge of being able to build a minesite.

They will build it small and upscale once they have the cash in the bank.