Fair Valuation of HIO, page-2

Good Morning Maz and al the longer term holders.

I haven't posted here since before that fateful day on October last year.

Looking at the current situation I would say that our MC has way overcorrected now and appears we are the bottom of the curve and on the way back up towards fair value which I agree with Maz is circa 40c per share.

There is now a hope that with the shallower depths of ore that we can produce less waste and therefore less production costs.

There is also hope now that a revised BFS will assist with renewed interest from a finance/partnership perspective and we can get moving again.

The "Compelling Economics" whilst they have changed due to the initial capex cost blowouts still present a case for the future based on I/O prices being strong, reducing inflation and the need for green steel into the future.

$35mil MC at present....got to be worth more than that looking with a longer term lens.