sin-tang, page-4

This is not necessarily good news. A dilution is not the preferred outcome. This might suggest that current negotiations are not progressing very well - why would they dilute at 15c if they were on the cusp of closing a deal which will raise the value of the company significantly?

FWL's strategy with Sin Tang is to raise cash, pure and simple. $1.5 million will give them some breathing space - much of FWL's efforts in the past 12 months have focussed on capital raising in drips and drabs.

On the other hand, $1.5 million will not be enough to enable FWL to make any meaningful progress with exploration drilling and feasibility studies. From that point of view, I don't understand Sin Tang's strategy. It's a risky investment if it doesn't enable FWL to make real progress and provide Sin Tang with confidence to make a further investment.

Having said that, Sin Tang's involvement is definitely a positive endorsement of the potential of FWL!