Magnetite, DRI, Greensteel News, page-141

The JV partner's profile will have huge impact on the sp. And I have seen it all the times with many many stock sp making huge gains in the months afterward. KDR (Kidman Resources) sp gained 400% in 10 months after it formed a 50-50 JV deal with SQM.

Imagine HIO enters a 50-50 JV partner with BHP or RIO or FMG, what do think it will do to the sp? What do you think all the people who have been saying they don't think the project can go to production due to funding, due to management operational skills, due to no off-take customers so far. What would BHP do to the project if it decides to jointly own the Hawsons project?

The value is there, based on project valuation (NPV). My calculation shows its short term sp should be in the $3-$4 range and the long term sp is above $10. It is not difficult to work it out. It is the market's belief (or lack of) in seeing this project moving to production that is holding back the sp. But with POSCO or BHP or RIO or Tata Steel,... moving in as a JV partner, market's belief in HIO will change from 0 to 10.