Ann: Investor Briefing Session, page-105

It is fair to say LOIs won't get the product out of the ground on its own.
Yeah companies put forward their interest and it's not legally binding but there's a bit more to it than just putting your hand up today and be gone with that interest tomorrow.
These companies are being strategic and moving forward they know the supply crunch for high grade ore will bite - so why wouldn't they continue to be interested?

Clearly there is and has been interest in HIOs product for a long time now. Those companies are obviously still interested 5 years on since being announced.They need HIOs product. Fair to say they need us big time into the future and if a company that signed for 1mtpa wants to move on from HIO then so be it. We have a lot more interest than we can produce per annum anyhow and that would explain why those companies who announced interest with us 5 years ago are still happy to link with us now.

Up until last night, all we knew was the 12mtpa listed above and Bryan had mentioned the term Conga Line a few times over the past year.

Bryan has now confirmed that we now have multiples of 20mtpa in signed LOIs. I take the term "multiples of" as at least 2-3 times 20mtpa. That's a large amount. More than i thought to be honest. It will be interesting to see where the new interest has come from since last reported.

IMO the initial reporting of the LOIs was big news for HIO back in 2017 but not really in 2022. Everyone invested in HIO knows demand far exceeds supply so imagine releasing an announcement every time Bryan got a new phone call about interest in the supergrade ore. That could be a daily announcement at times which is pointless.

Shareholders want to know how the product gets out of the ground now and Bryan and the team know that more than ever over the past week.