Have they spent all this money all ready oh wait thats rite it never really happened it was all just a bad dream.
100% equity funding secured to construct port and rail at Oakajee Padbury will retain 36% equity in Midwest Infrastructure First phase to update prefeasibility, to complete design and construct specification and commence early civil works to begin as soon as possible included within the budget of US$470 million Negotiations with Korean EPCs and others in full swing to undertake work from PFS through to construction completion Success of Australia – Korea Free Trade Agreement opens door for increased trade and investment opportunities Negotiations with WA Government underway to formalise development agreements Engagement with other miners in region is continuing Non dilutionary to Padbury shareholders Padbury Mining (ASXPDY) is pleased to announce that it has secured the funding necessary to construct a $6 billion deep water port and associated rail network at Oakajee. This is a major break through for the company and the region. The funding is to be provided by private Australian equity investors and is contained within an executed Shareholders Agreement between the parties.
The funding will be provided in three tranches: 1. First tranche – US$470 million 2. Second tranche – US$3,450 million 3. Third tranche – US$2,550 million.
