Whats causing the pause in the BFS is out of HIO management control. Its the capital markets are freezing up and bankers for 20-30yrs structured finance cannot set the rates, along with supply chain constraints push up cost of equipment and construction cost. Santoa have paused the FID (equivalent to BFS) on the Dorado Oil project worth $3-4bn for the same reasons. MGT have not got a hope in hell to even start a BFS and if they could it would be a waste of money as it will have to cease as well. The pempest in global capital markets will pass at sum stage but not in the next few months. HIO have options and these will be released in the coming weeks to AGM. Hawson will be development but the BFS needs to pause till markets settle down. Just remember HIO have 5 companies wanting offtake up to 12mtpa....any one of those companies could well be invited to take a strategic stake via a placement at any stage. My guess is a $5-10m place to one of these companies could be done above the market. No need for the company to place more than that especially at these bargin basement prices
HIO Price at posting:
10.3¢ Sentiment: Buy Disclosure: Held
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