Wait and see how many holders (apart from directors) subscribe...

Wait and see how many holders (apart from directors) subscribe this offer. Don't forget FWL need more money just to pay director fees, FWL is running out of money and last time was a failure. If FWL doesn't get much money from this offer, they will just sit there can pay director fees because not enough money to start this project.

Eyeoverit, I don't think you understand anything. Chinese govern will only subsidize when IO price falls below Chinese producers' cost price (usually around $100/t). If IO is at $130 why subsidize producers when they are making money?

Besides to take out debt to fund this new project, I'm not sure if banks will agree if IO price is too close to the cost price. As you can see all IO producers and explorers got smashed (eg ROY, ARH, FMS, SRK, MOL, BHP, RIO, FMG, AGO, GBG, GRR, etc.)

MOL's cost is around $88, mining 1mt/yr and MC is below cash reserve. MOL is making good profit to add cash into their cash reserve, but still trading below cash reserve.