Ann: HIO BFS Expansion, page-68

Yes well done and yes more profits obviously and yes shorter distance to port but there is still the key issue of an extra $500m - $1Billion in funding to build an underground pipeline. Yes there are off takes but how many companies in Australia have received over $1 Billion in funding recently? The biggest funding deal in Australia I believe was negotiated by Sam Chee ($7 + Billion) for the Roy Hill IO mine (He is now with MGT negotiating their funding). Who is arranging the funding for Hawson's and what are their credentials? I can't find much at all on Greg Khan (CFO) and deals he has negotiated.

This announcement makes me nervous. Obviously management have something going on but surely it's better to at least get the mine built and funded before trying to go for a huge mine straight away and ask for $2.5 + Billion in funding. If 10MTPA is so profitable why not start with that then use profits to move forward with the slurry pipeline. Save having to pay more interest on loans not to mention possible further dilution (dependent on funding arrangements)