spp closes oversubscribed, page-10

Latest presentation slide 12 "Exploration for DSO Grade Haematite (The Yogi Mine Project 66.7% TFA) Drilling of Haematite targets will be a high priority"

Slide 18 Projects Timeline compare with OLD PRE-TFA timeline
"DSO Haematite Q3 2013 Potential to start shipping" - now the main focus.

Magnetite MPI now pushed back to Q3 2015. In the past MPI was the main focus.

Slide 19 "Substantial Funding - Taifen providing substantial funding at Yogi over next two years". Sounds like TFA providing funding ONLY for Yogi.

Quarterly activity report
"...3Mtpa [TFA part] through the proposed new Port of Oakajee. FWL proposes to take 33.3% or 1.5Mtpa as previously planned to Eradu, where it proposes to build the Eradu Pig Iron Project, aimed at producing 1Mtpa of MPI. The Company will retain 100% of the MPI plant.

Who is funding MPI plant in Eradu? $720m at at Jan 2010, what about in Q3 2015 according to Timeline?

SpringTree Funding Agreement (20/06/2011 announcement)

"Tranche shares - Term: 18 months"
Termination Rights By the Company: "after the first anniversary at no cost"; "prior with payment of $180,000 fee to SpringTree".

My previous post I said once get 20c subscription money from TFA, FWL should pay SpringTree $180K to terminate SpringTree contract. However, TFA may or may not allow FWL to spend money on that since money is for Yogi project & we are half way to anniversary by the time FWL receives the money from TFA.

I am not sure why you said my wires are crossed.