Flinders Mines Limited provided an update on the feasibility study being undertaken on the Pilbara Iron Ore Project (PIOP) by BBI Group Pty Ltd. BBIG has advised that it expects that there will be a shortfall in project expenditure for the first year (ending 2 September 2021) under the terms of Farm-In Agreement (FIA) that requires BBIG to procure a minimum annual spend on the feasibility study of $15 million. Under the FIA, if BBIG does not procure this minimum spend in any year, it must contribute the difference to PIOP Mine Co NL, which is then required to be escrowed and distributed to Flinders.