Price and Chart HIO, page-61

Some people are busy fighting and trading over the range of 7.7c-8c while others are waiting for the day of 77c-80c and I am one of them. But it is very dangerous that they can miss the much bigger reward, just like the guy who sold a around 2mil of his shares yesterday at 7.8c to 7.5c (the main chunk of his sell was at 7.5c) to manipulate the sp down. That guy may miss out the much bigger reward or he may have to buy back at higher prices.

The MC will go to 20% of NPV after HIO announces its off-take agreements. No doubt about it. That is very typical in mining projects.

And usually at above 30% of NPV when it approaches construction of mine and moves close to production.

I clearly see HIO is moving towards that construction. All indications are pointing to that direction. Just look at all the key recruitments of late to the project team.

Just work out what 20% of NPV means, whatever NPV you believe the project will be worth, whether $3bil or $5bil or whether you believe the figure from KPS report released 4 weeks ago which is AUD $9.2bil NPV8%. And keep in mind that the resource utilization in the next NPV calculation will likely be double the 201mil tons of concentrate used in the previous PFS. 400mil tons or higher will no doubt lift the NPV figure very seriously significantly higher.