Ann: General Update , page-14

Phillwill

FWL does not have anything like a billion ton of magnetite.The partner will spend $20 mill on projects that will exceed 1 billion, big deal.
The partner does not want the pig plant. If it so great, then why not? The pig plant is where the bulk of the cost is. It is where the risk is! The pig plant is still new technology.
There is no dso.
They will not raise the capital for such a risky, project.
Your statement re risk/reward is absurd!