impressive order book, page-3

Some information on these projects - sourced from companies themself - Reed Resources (RDR), Poseidon (POS), Marengo Mining (MGO), and Ironbark (IBG)

Reed Resources (RDR.ASX)
- NFC required to source 70% of project finance
- Final, fixed price EPC quote provided in early August by NFC/Arccon (as per Annual Report)
- RDR required to fund remaining 30% project finance
- Several proposals have been tabled, and discussions are progressing with equity financiers including those interested in off-take agreements (as per investor presentation)


Poseidon - (POS.ASX)
- Construction due to start early 2012 & take 12-18 months as per presentation 23/6/2011
- NFC to finance 80% of project cost
- Andrew Forrest is the chairman
- MOU with NFC/Arccon is non-binding
- NFC/Arccon are currently in process of establishing an EPC contract for the process plant (as per annual report)
- Obtained $20m unsecured convertible note funding at 42% premium to prevailing share price - indicates confidence of financiers in project

Marengo Mining (MGO.ASX)
- Exclusive MOU with NFC/Arccon - executed in October 2010
- NFC to fund 70% of project cost + arrange substantial off-take agreements - discussions are advancing with Chinese Banks as per investor presentation (28/9/2011)
- First production due 2015 - one of largest undeveloped copper resources in Asia-Pacific (6.5 billion pounds of Copper plus other metals)
- PNG government has taken a position in the project, and has agreed to fund the remaining 30% stake thus securing funding from Marengo Mining's end
- Undergoing DFS atm - feasability is well advanced leading to a fixed price EPC contract (as per investor presentation 28/9/2011)
- Strong institutional support, seen as a world class resources, and recently upgraded resource
- George Soros Fund is one of the key institutional investors

Ironbark Zinc - (IBG.ASX)
- Seeking to develop Citronen Base Metals Project in Greenland - 11 billion pounds of zinc and lead (within top 10 largest zinc projects in world)
- Recently implemented $50 mil convertible note ($0.42 & $0.50) funding facility with Glencore at premium to share price of around $0.30 - (investor preso 18/10/2011)
- Recently implemented offtake agreement with Glencore
- Feasability study indicated CAPEX of $469 million AUD (Feasability study 12/10/2011) - Final Definitive Feasability Study still ongoing aimed at reducing CAPEX & OPEX
- MOU with NFC/Arccon to engineer & commission the project
- One of main shareholders is Nyrstar NV - the world's largest zinc metal producers and Glencore (worlds largest zinc trader)

All of these projects look commercially viable, and are proceeding quite well - particulary Ironbark project & Marengo Mining.