Gavin Ross hinting at green steel pathway

For those who don’t know, Gavin Ross portfolio management is the group that helped Freehill to achieve 9c back in 2020.
On his website you can find that his portfolios over the past 5 years are up 76% compared to 41% for the market. Well, clearly it hasn’t been the case for his investment in FHS.

With the re-listing just several days away, Gavin Ross, one of the biggest holders (top 2 major shareholder), increased his holdings once again.
It got me curious on what grounds was he convinced to invest in FHS again? It can’t be just waste materials business that generate up to 3.6M annually.
The information I found from their current news letter shows two pathways that the firm is pursuing. 1. Waste materials. 2. Direct reduction iron.
Freehill mining with a proven resource of 49.3Mt and concentrate grade up to 68.4%Fe. But we had been selling ~ 5,000 tonnes per month of 53%~63% Fe.
Green steel pathway can be a company maker.
We will find out with the operational update next week but if it’s green steel I’ll be topping up on market open.