You're an idiot. See below;1) MGT in fact has a significantly...

You're an idiot. See below;
1) MGT in fact has a significantly bigger resource than HIO, it's just that they're starting smaller with a view towards scaling up, hence the smaller JORC resource announced immediately pre-PFS.
2) MC doesn't mean shit. Did you see MGT's market cap in June 2021? How did that compare to HIO's at the same time? Or C(r)AP as they were probably calling themselves then.
3) HIO is about to release their BFS. MGT is about to release their DFS. BFS = DFS = BFS. They're the same thing, dickhead.
4) HIO has secured some funding. What, like 100m out of the 2B+ (probably more likely 4B+ now given their planned expansion to 20Mtpa lol). MGT is (quite smartly) waiting until DFS release to announce their funding strategy, so as to ensure they work out the best possible path forward. This is probably literally the only reason why HIO's MC is currently much higher than MGT's. Because they announced a tiny bit of funding early.
5) Fed and State major project status.. whoopdy doo! SA has a $10Bn magnetite strategy. Who cares.
6) I actually had to look up what a LOI was.. letter of intent, LOL. So some guys wrote them a letter saying that they pinky promised to buy some of Hawson's iron in the future some day maybe? Wow. That's some pretty convincing stuff there, HAW22BH, you've got me there. /s
A letter of intent doesn't mean shit if your decision to mine doesn't go ahead. And a decision to mine won't be made unless funding is secured. HIO are currently trying to receive BILLIONS in funding. See above points for why this is a bad strategy.
7) MGT win at much more than HIO. Look up their respective strip ratios. Have a think about how much extra money/time HIO will need to spend digging up significantly more waste in order to reach their magnetite vs MGT at Razorback, for example.
8) I agree with you on that, at least... HIO will change your life.. but only in the sense that you'll realise in about 6 months time (or later after their BFS is inevitably delayed, see recent announcements alluding to this) that you've wasted your money when they don't secure funding and the SP comes crashing down.

NFI, DYOR.
tl;dr - you're an idiot.