"Hawsons" a green steel devolper in making, page-59

Maybe there is little buying pressure because it got pushed off the main investment highway and has languished in a remote cul-d-sac where it circled til it ran out of gas - til now. The newly invigorated management team have topped up the tank and mapped out a route back onto the investment freeway but it's a long journey in heavy traffic requiring patience. But I agree, they are a sitting duck as other producers know how valuable HIO's ore is and could easily use a share based bid to pick it up for nothing in real terms. In theory, say FMG could offer 1 new share for 25 or 30 HIO and it would be all over in a flash. $70 market cap? That would simply be a rounding error for the big boys, probably the purchasing managers assistant is authorised to sign off on buys bigger than that.