Mas37, what you have stated above is correct but you need to put...

Mas37, what you have stated above is correct but you need to put this into perspective. HIO's deposit is relatively small and of low grade.

HIO holds tenements at the tail end of the Braemar formation, these tenements equate to approximately 150 km2.

FYI,
MGT tenements equate to approximately 1,500 km2 (10 x as much).

Too many people think that the HIO, MGT (Braemar resource) is high grade iron ore in the ground ("Super Grade")....
This is not true, most Magnetite ore deposits are approximately 20-30% magnetite (70-80% host rock).
HIO has a very low DTR cut off of around 5% magnetite, the latest drilling results are at approximately 9% (still very low).

The latest spin is HIO looking at selling mineral sands (the waste host rock). This will be due to the massive amount of host rock that needs to be processed and then discarded..... good luck finding customers for huge amounts of low to no value product 60 kms from Broken Hill..

For reference HIO's neighbour (MGT) has drilling results showing a deposit of over 6 billion Tonnes with ore grades of up to 37% magnetite.

I'm not trying to beat up on HIO or it's investors but people need to do their own research and understand the facts and not just the marketing spin.....