Hawsons Iron Limited entered into an agreement to acquire 6.037% stake in Hawsons Iron Project from Pure Metals Pty Ltd for AUD 10 million.

Hawsons Iron Limited (ASX:HIO) entered into an agreement to acquire 6.037% stake in Hawsons Iron Project from Pure Metals Pty Ltd for AUD 10 million on March 24, 2022. As part of the agreement, Hawsons will pay Initial $5 million and balance via two instalments: $3 million within three months and the final $2 million within six months. Initial $5 million payment being met from existing funds, with normal security provided for the $5 million balance.

Post-acquisition, Hawsons Iron will own 100% stake in Project.