What deposits in Australia do you believe will be feasible for the Green Steel demand?
The Retail demand last year a is reflection of the 22 chart. As well as the company painting a very pretty picture.
When you think about the scale of the project it makes sense that it can't proceed in this environment.
With the current economic environment its a bit harsh to totally rule the project out.
We've had 10 years of inflation within 2-3% target rate, what was it last year 7-8%?
No wonder the cost of proceeding made it unviable. I didn't acknowledge that prior and was a lesson well learnt.
But I'm sure I wasn't the only one, the company paid millions on expert consultants.
The best of the best. Why wasn't this picked up a lot earlier? We could have pivoted a lot sooner and saved a lot of pain.
I have said many times the CFO failed the company in replacing the funds for previous purchases.
We never regained our cash levels after spending as they believed they had cash reserves of 200m with the LDA facility.
I thought they had ample cash with the LDA facility as that is what was portrayed.
Everyone who worked or was employed by Hawsons over the last 18months have let shareholders down.
It should never have got to where we are now, especially how it did.
I believe the demand for green steel is brighter than ever, I expect increasing premiums for better grade over time.
Inflation will eventually get back to target levels. I do acknowledge the difficulties the project has, which hopefully the current drilling can help.
But eventually I think all of these will line up to make the project feasible. When and how much more shareholder pain, I do not know.
So my question goes back to, what other large projects in Australia have high grade economic deposits?
Or will Australia miss the boat on the Green Steel demand?
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