what is the value of fas based on iron ore?, page-14

Hey Snookerque to answer IMO the reason why I believe that we are still awaiting an offtake agreement page 16 on the interim half yearly report which was only released 15th March it aludes to 'awaiting completion of regulatory approvals and final due diligence by the lenders but is confident these conditions and the offtake will be achieved shortly.' Analysing what has been going on in the background they would also be on a tight schedule to secure the funds as the battle for the final 9mt of allocation of the first round of Esperance Port allocation is being decided by the state government probably very soon as they started talks in February. The only one of the 11 odd hopeful's in the Yilgarn province that has secured an allocation is Cashmere Resources with 5mt this is because the government is using their feasibility study for the third party contractor. Mindex who's CEO runs the Yilgarn Iron Producers Association has done a deal with Sumitomo but one of the board members has rebelled and forced a EGM which probably puts them in doubt a bit hopefully, i've also noticed fairstar doesn't appear to be in that group anymore. Anyone want to speculate what the likely front runners for the 9mt allocation would be? I think fairstar is up there due to a strong business case such as being able to be up and running in 18 months or so others i think in contention are all hematite / DSO first before Magnetite deposits such as Cazaly, GWR (Might be ruled out due to timeline), Mindex etc. I'd assume the 9mt would be divided 3 ways so there is potential for 3 junior hopefuls to get a start.