Ann: Hawsons Signs Binding Agreement with Flinders Ports, page-38

@* - the point that I was trying to highlight is what is now binding and what is the difference between the previous Memorandum of Understanding and the now legally Binding agreement.

The MoU announcement with Flinders Ports was made on 16 June 2022. It includes statements such as:

the successful execution of a non-binding MOU with Flinders Ports which documents plans to co-operate on the potential development and operation of the Myponie Point Port for the export of 20 Mtpa of magnetite concentrate

Compare the above to the wording in the legally Binding announcement today:

Hawsons Iron Ltd (Hawsons or the Company) has signed a legally binding Agreement (Agreement) with Flinders Ports Pty Ltd (Flinders Ports) to co-operate on the potential development and operation of a greenfield port at Myponie Point Port on South Australia’s eastern Spencer Gulf.

From the MoU:

Managing Director Mr Bryan Granzien said the MOU envisaged that Flinders Ports would finance, construct, own and operate the Myponie Point Port, therefore reducing the Hawsons Iron project’s capital requirements

From the Legally Binding announcement

Under the terms of the Agreement and subject to further agreement in final transaction documents, Flinders Ports would construct, own and operate the proposed Myponie Point Port – reducing the Hawsons Iron Project’s capital requirements, while enabling the Company to participate in future growth as the port’s ‘cornerstone’ customer


[Italics are quotes from the announcements - bold is my emphasis]

Given the similarities between the announcements, other than to now start co-operating on options to scale up, it is not clear what has changed since the MoU and what is now binding between the parties.