HIO

3.70%

2.6¢ hawsons iron ltd

if HIO don’t get up then there is almost 100% chance tgat MGT...

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h1tch0

110 Posts.

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28/07/22

20:36

Post #: 62791558
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Originally posted by Martyac: ↑

Tran, It takes so much more than "Compelling Economics'" to get a mine up and running. To be clear to all, I sold my holding of HIO on the announcement of the BFS due to the up grading to 20mtpa. Ihope that HIO can pull it off and one day actually go mining but with my experience I see it as being highly unlikely.
I also feel too many people invest is explorers like HIO without really understanding the realities of starting a greenfield mine.

Consider this, Yandi is Australia's biggest iron ore mine (Hematite). Last year Yandi exported 80 million tonnes, they dug up 80 million tonnes of ore, crushed it and shipped it.... Easy!!
HIO wants to ship 20mtpa, to do this with a dtr of 12.5ish%. To do this the mine must dig up and process 160,000,000 tonnes of ore per annum. Think about that, twice the size of Australia's largest producing iron ore mine.... At what cost, how big will the finance package need to be??

Here's another example, Karara is a Magnetite mine in W.A. that produces 7mtpa. They pump their water from 100kms away and use rail for approximately 120km to port. The mine opened around 2012 (not 100% sure of the date) at a cost of $4,000,000,000. HIO want to mine nearly three times as much and pump the 20mtpa through a slurry pipe measuring around 400 to 450kms.... So what do you think the real cost of starting this mine will be??? 8 to 10 billion would be a fair guess??

Again, I hope that HIO can pull this off and one day go mining but I have been around long enough to see many juniors with "Compelling Economics" never turn a shovel's worth of dirt.

Why am I backing MGT? Massive ore body (much bigger than HIO's), 200kms closer to port and low startup cost of $500 - $650 million for 3mtpa mine. Much more likely to happen... And can continue to grow as the money flows.

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if HIO don’t get up then there is almost 100% chance tgat MGT suffers the same fate. Suggest we all try to work together instead of downramping for no reason. MGT and HIO can easily exist and run parallel.. no need to be enemies imo

HIO Price at posting: 34.0¢ Sentiment: Buy Disclosure: Held
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(20min delay)
Last 2.6¢		Change -0.001(3.70%)		Mkt cap ! $26.42M

Open	High	Low	Value	Volume
2.7¢	2.8¢	2.6¢	$24.84K	927.4K

Buyers (Bids)

No.	Vol.	Price($)
1	185242	2.6¢

Sellers (Offers)

Price($)	Vol.	No.
2.7¢	1125000	2

View Market Depth

No.	Vol.	Price($)
1	185242	0.026
10	1544299	0.025
4	642707	0.024
6	1853279	0.023
4	375499	0.022

Price($)	Vol.	No.
0.027	1000000	1
0.028	2179001	3
0.029	1143781	5
0.030	290613	5
0.032	193080	3

Last trade - 15.59pm 19/07/2024 (20 minute delay)

HIO (ASX) Chart

if HIO don’t get up then there is almost 100% chance tgat MGT...

Flynn Gold flags mid-grade drill hits and always eye-catching rock chips

NSW approves J-POWER's $380M buyout of Genex Power, giving it ownership of QLD net zero project

Week 29 Wrap: Trump in spotlight again; China's Third Plenum a yawnfest; RBA's August move a mystery

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Imricor raises $35M to pursue growth and expansion into Australia and NZ

Warren Tredrea’s weekly sports business wrap: the latest on business in sport

Lake Resources implies news article on job cuts made up; non-core sales "not material" and no rule 15.7 breach

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if HIO don’t get up then there is almost 100% chance tgat MGT...

Top Stories

Flynn Gold flags mid-grade drill hits and always eye-catching rock chips

NSW approves J-POWER's $380M buyout of Genex Power, giving it ownership of QLD net zero project

Week 29 Wrap: Trump in spotlight again; China's Third Plenum a yawnfest; RBA's August move a mystery

Wealth Within considers potential takeover targets in Australia's booming infrastructure industry

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Warren Tredrea’s weekly sports business wrap: the latest on business in sport

Lake Resources implies news article on job cuts made up; non-core sales "not material" and no rule 15.7 breach

Featured News

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