iron ore news due november, page-3

Ric Dawson (Managing Director) replied to me again and it's all look good for the iron ore tennement and the $5mln Institutional backing....

Here is further information regarding (1) the iron ore project and (2) $5mln funding:

1/ the results are encouraging unfortunately until
PSP drills the RC to determine the depth component, we wont really know but it looks good at this stage

2/We are currently only waiting on one more applicant to have fully subscribed the $5m and their has left US but has not yet reached PSP

Ric

At 04:07 PM 11/10/2007, you wrote:
>Hi Ric Dawson,
>I'm really appreciate your prompt reply.
>
>1/ I still strongly believe in PSP's Iron Ore project. Do you expect
>results from Woolshed and Mummaloo will be material?
>
>2/ Regarding about the $5mln placement, do PSP still expect to
>receive the supports from International Institutions for the
>balances yet to receive? cheers.