sham transaction?, page-6

Jreckard this is pure speculation but i think the 'FRL' in FRL commodity management limited stands for Fairstar Resources Limited and is basically a holding company to manage the finance and associated mortgage over SHIP. I daresay that Whitmill are purely the managers of this for a fee and getting the money for this from wealthy individuals and or venture capitalists banks who are their clients such as rothschilds for example etc ie it might be impossible to know who in fact is stumping up the money such is the point of financing through the channel islands. It protects the anonymity of the financier who after all is taking a fairly substantial risk on startup of SHIP. But on the flipside if you were looking for somewhere to invest and take a risk for a steady above market return (say 10% per annum) it would be in WA resources rather than anything in Europe. It's a testament to the ease of mining SHIP and the board's commitment to finding a good deal IMO. Also i'm glad they got the interest of european investors over chinese hopefully the hurdles they have to jump are more lenient and manageable.