new global force in potash, page-26

Very good result to get $260m fianncing.

The terms sound a fair balance in terms of getting access to significant funding at a stage where a JORC resource is yet to be proved, and it being a good but fair deal for the new investors.

My only concern is the investors. Can anyone find any information on Topsun and Yubang? Have they done deals before? My concern arises as I have heard first hand that there are a lot of Chinese investors/middle men who promise money, in return for significant significant commisions (here the commissions are about $13m for $224m of capital, or 5.8%), and then who run around trying to get the investor interest knowing they have the commission and project to sell. This is fine if they can get it done, but it creates significant funding risk, as many fail to deliver on finding the funding.

I do think Fortis should disclose more about Topsun and Yubang (their experience, track record, do they have available funds of $224m, or are they now going to search for these funds) - I cant find anything public - so shareholders can get comfortable that there is no significant funding risk.

Any thoughts, and can anyone find info on these investors?