Disappointing dump today, agree. Speculation that it could have been orchestrated, perhaps. Profit takers, Regal shakers, who knows?
Tomorrow marks 1 year since share price took an almighty nose dive when Hawsons announced BFS slow down due to macro & inflationary challenges. I'm not saying that all these challenges have passed, but there has been some improvements along the way. Cost saving modifications to plant feed design, indicated high grades at shallower depths, iron ore as a critical metal recognition, MOU to cooperate with Flinders Ports, offtake interests nearly five times more that the planned 11mtpa revised strategic review. Board restructuring and strengthening. Not to mention that the Green Steel thematic is very much back in vogue and on the big boys radars.
My opinion is that we will see investor pack, drilling results and offtake or JV agreements with funding proposals leading up to AGM. Shareholders should ultimately get to approve whatever transpires.
Then it's a slow and steady climb for the next 12 months when BFS should be all but completed which should see our share price somewhere in the Stratosphere, imo.
Come on Mr Granzien, we need that rocket announcement!
Good luck to all.
HIO Price at posting:
4.8¢ Sentiment: Buy Disclosure: Held
