Ann: Rights Issue Closure and Shortfall , page-3

Will be hard to get project started... Money is only for directors. If they are smart, they should just offer $37m to buy Mol project which is already generating cash everyday. Eg TFA international can buy half of mol project, fwl buy other half with debt (from banks) and equity raising. Mol is mining 1mt pa with cost around $85 per tonne, so making around $30m pa before tax. Then fwl can generate enough cash to fund this project and mpi if they are still interested.