That is an excellent find hayalim. HIO is commencing its BFS...

That is an excellent find hayalim.
HIO is commencing its BFS which is targeted to be ready by 31 Dec 2022.
The BFS has also been fully funded ($35.6 millions).
The share price has then bounced back from the lows (might form a cup and handle with continual uptrend).

What is interesting is that the charts of both MGT and HIO are amazingly similar year on year and they are both high iron content companies.
What is also interesting is that HIO only has 400 million tonnes of 70% iron with only 210 million tonnes total production according to their PFS with only 20 years of mining life.
This pales in comparison to MGT with its 5.7 billion tonnes of 68% iron with hundreds of years of mining life.
MGT also expects to complete its DFS (which is the same as BFS) in Q3 of 2022, compare this to HIO.

MGT has engaged 2 engineering companies GHD and Hatch to commence DFS.
GHD to deliver the critical Power Supply and Non Process Infrastructure of the DFS.
Hatch to complete the Process Plant section of the DFS.

There is no sign of funding needed to complete DFS with MGT having $16million in cash after PFS.
Compare this to HIO which required $35.6 million funding to complete its BFS.

I believe MGT's management is advancing all right, but the market is being irrational at the moment.
However if HIO is doing well, it will also be good for MGT as these 2 companies are very similar even their charts are mirror like.
MGT compared to HIO is at a discount price but with much greater resource and potential.