If you go to the Cashmere web site and read the presentation for the december AGM you will see that they are well on the way to getting stage 1 up and running which will require $140m in cash. they have entered into discussions with Partners, engaged with debt funding and have engaged with the Chinese.
If you read their timeline post the stage 1 phase they will go into an IPO so they do have significant confidence that they will IPO possibly by 2014/15 if not earlier.
Cashmere may even be engaged with Posco?
cashmere needs $140m for stage 1
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