Ann: Equity Investment and Strategic Cooperation and Offtake MOU, page-92

for those tyring to understand what's in it for hebang,

the first thing is that wonarah phosphate has a high level of silica in it which makes it more suitable for thermal processing uses.

secondly it appears hebang are tripling their PMIDA output through a new plant which will increase their need for yellow phosphate. So clearly there are synergies to be had for both parties and a motivation to move things along at a good speed.

"Hebang Biotech has an annual capacity of 200,000 tons of PMIDA, an intermediate to make herbicides, and is building another new plant with an annual capacity of 500,000 tons in China’s Sichuan province. The company said its need for the key raw material yellow phosphorus will increase when the new plant goes into production. The share deal will not only better ensure the supply of raw materials but also facilitate business cooperation with Avenira in phosphate mining and yellow phosphorus production, Hebang Biotech said."

https://www.yicaiglobal.com/news/chinas-hebang-biotech-to-raise-stake-in-australian-miner-for-usd13-million