Nice one,I think your right.Looking back at the offer to raise the $$50m+,Offer was taken up by "sophisticated and professional" investors $23.2 and then offered to holders at 1 for 7,$29.6m, all this money to be used on Pilbara Iron Ore Project. I guess this was requirement to get sop & pros on board. Refer USE OF FUNDS offer doc 21/10/09. Which leaves our earlier FMS $ balance of say $8 to be split between ore,diamonds & phosphate.I recall mgt saying diamonds having about $3m before "no more". Refer tap41 19/1
iron ore investors conference - thurs in syd, page-9
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