HIO currently has a mkt cap of AUD 30 mill , with $8 million at the bank, a $150mill lending facility (unused), approx $100bn of iron Ore (discovered) , and a network of non-binding off-take type agreements. The negatives are management that has essentially walked away from this and a rogue substantial shareholder, Regal. If its all about management then valuation is about right, if the market ever switches to focussing on the assets then 50 cents would be a reasonable takeover price ($500 mill)
Interesting to see Kenneth Joseph Hall on the register with 12.7 million shares, when did he get on the register?
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