What is keeping me here is the world's genuine efforts to decarbonise, that steel production produces approx 7% of world carbon emissions, that currently the only proven methods (that I am aware of) to produce large commercial quantities of green steel require high grade magnetite and the world currently doesn't have much high grade magnetite being produced. Therefore, the world needs more high grade magnetite.
I accept that there is a real risk that this might not get into production. But for my comments re green steel above, those risks would be much higher. However, I believe that there is a real possibility that offtake and strategic partners will pull this into production. I acknowledge those risks but believe the risk versus potential return is worth it from these prices and what we know now.
HIO Price at posting:
3.6¢ Sentiment: Buy Disclosure: Held
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