any ideas?, page-46

Hopefully, they get this going asap;
From ASX announcement, 15 July 13;

Iron Sands Investment (Titaniferous Magnetite)
As announced on a number of occasions in the past, Baraka has been seeking to
diversify its activities and investments, so as not to be a single project focussed
company.
Initially, we established an office in Jakarta and assessed in excess of 180 coal
and other projects, but when the Indonesian Government changed the rules and
regulations in regards to bulk mining and other resource projects, including
increased taxes, and moved to a more Nationalistic approach as against being
foreign investment friendly, the Company reduced its operations to a virtual
office. The Company continues to monitor current and future resource
regulations and changes as Indonesia has enormous natural resources and may
one day revert to economic reality.
Baraka has since entered into a Commercial Secured Loan Agreement including
interest payments and a profit sharing arrangement with an unlisted public
company, with an iron sands venture in the Philippines. The project was
introduced to Baraka by Cervantes Corporation Ltd (ASX:CVS) who will as a
result be entitled to certain fees, profits and or the right to back in to the
investment at a later date subject to particular goals being achieved.
As a result of Baraka’s assistance, the permits controlled by the unlisted public
company have now been renewed for a further two years to allow further
exploration of the highly potential areas to be pursued.
Baraka has recently funded the acquisition of unique equipment to carry out
very economical assessment of the permits under an exploration program
currently underway.
Whilst the agreements between the parties are currently subject to
confidentiality clauses, and discussions and negotiations of a very sensitive
nature are ongoing Baraka is not able to give any specific details of the project.
Full disclosure will be made when Baraka is able to do so as the current role is
only as a secured financier with the right to convert that loan into various
equities if Baraka elects to do so subject to particular conditions and goals being
achieved.
However, data provided to Baraka prior to the agreement and other data
provided since as a result of a visit to the Philippines by a director of Baraka, of
previous mining of the area, and data from the surrounding areas indicates a
large tonnage, low cost production of titaniferous magnetite sands, which has a
takeoff agreement in place with a Chinese mill.
The huge benefit of iron sands projects is that the material has already been
ground down to fine material and no crushing, road transport, rail or other major
infrastructure costs are involved and only a simple low cost dredging and
separation process is required to produce high margin, low capital and
production cost material.
The project compares extremely favourably with other listed and unlisted
projects Baraka have reviewed in carrying out the due diligence on projects in
New Zealand, Fiji and Indonesia, because of export restrictions, CAPEX
requirements, depth of material and, more importantly, low cost labour and operating expenses and especially closeness to China for shipping times and cost.
Current information indicates an exploration plan and budget considerably
lower than normal exploration programs to produce a mining permit and in
particular considerably lower CAPEX and earlier production times.
Baraka believes, subject to the current exploration programs verifying historical
data, that the project will equal if not rival the Georgina Basin potential cash flows for Baraka shareholders in the same time frames and for capital
investment.
The investment may very well involve other investment opportunities for Baraka
shareholders when the final structures and negotiations are resolved.
Baraka shareholders are now involved in and have two very exciting investments
to follow over the balance of this year and especially into 2014 and onwards.