Morning all.first a reality check. If I’d said a month ago that...

Morning all.

first a reality check. If I’d said a month ago that we’d be 60c+ in May, we would all have been delighted. It’s all relative.
when shares take a big fall the only question to ask yourself is; what’s changed? If nothing, or in HIO’s case, just a bit better (with confirmation of offtakes and BFS timing), then nothing to be concerned about. Just another buying opportunity.

if there is troubling news, then it’s time for a major rethink (something I didn’t do, when OXR bought Pasminco just for the $1b cash they needed, rather than a simple rights issue at $4, which would have been swamped).
long term, we’re looking just fine.

there are certainly questions around the pipeline (I hope they sub it out to a pipeline infrastructure trust; we can easily afford the $’s/t they would charge) and how long for a deep water port. There are thankfully alternatives (even Newcastle), while not ideal, will still work.

I’m still very comfortable letting our great management keep doing what they’ve been doing; brilliantly managing our project on the timeline they set.

this is and always was a 3-4 year play.

cheers,

ned.