Price and Chart HIO, page-5316

@upthedell

I'm not sure I agree with all of your comments above.

If you go back over the posts in the Top 20 thread, I think you will find that one of our top shareholders, Mr Cherloaba acquired 6 million or so in the earlier part of this year. Also, if you look at @Slider 's posts, you will see that you now need to hold more shares to be in the Top 50, Top 100 and Top 200. For example, at the start of the year holding more than 486,284 would get you in the top 200 holders. Now you need to hold more than 512,500. Therefore, existing holders are accumulating or new money coming in with larger amounts to invest.

The run up last time was in part off the back of Regal completing the sale of all of its shares, so there was some catch up that needed to be had. It did start to run too fast and the price got ahead of the knowledge and market awareness of the project (as opposed to the charts). I think the pull back in price was started from a technical level and was exaggerated by stop losses being triggered for those trading. Then there was the delay in the resource announcement (two weeks after Bryan said he was confident about it being delivered) which disappointed the market. Then the actual resource announcement was only half what the market was expecting which disappointed the market again. Then the LDA option was exercised and we found out the option price was post exercise of the option not pre, which disappointed the market. And add to that, LDA selling shares on market also depressed the share price.

Whilst those events have disappointed the market, the fundamentals of the project have not changed. In fact, the prospects of the project have been improved with things like the port agreement and Citi coming on board to help with funding.

Therefore, whilst I would prefer a slow and steady incline, the share price is really just getting back to somewhere close to where it should be.

Whilst I appreciate all the technical analysis and I know there will be those that trade HIO shares, if you want to come back to fundamentals, have a read of the research report that is available on Hawsons website (under investors tab and research if this link does not work - https://hawsons.com.au/research/)

That report was prepared back in March 2022 and applied a risked based price of 87 cents per share. The project has since been further de-risked and upgraded from 10Mtpa to 20Mtpa and therefore a current risk based share price could be argued to be much grater than 87 cents.

Therefore, the technical analysis still has a fair way to go before it catches up to the fundamental analysis. There will still be waves up and down, but fundamentally, there is support for a much higher share price.