$65m funding options

As we are all well aware there is more than one way to skin a cat.

Where FAS are at with progress on the required $65m funding is anyones guess. Going on the stella run we had from last Friday through Tuesday I was convinced we had it in the bag, now I'm not so sure.

Hopefully they have done or are close to doing a deal favourable to FAS and therefore us shareholders and we can get this show on the road.

I was thinking last night, actually at about 2am this morning about how the deal would/could be structured, there really is so many scenarios.

The ideal one that I come up with is something along these lines.

FAS/ALLIANZ 50/50 profit split on 80% or on 16mt. (that covers the $260m)
That leaves 20% or 4mt plus which relates to the $65m.

It looks as though FAS have sufficient interest in our product so maybe an arrangement could be made with one of the potential off-take partners on 4mt or more where we request a $65m upfront deposit on the initial 4mt in return for a $20pt discount.

Example, FAS sign an offtake for at least 4mt over say 4 years, take a $65m deposit and then supply the initial 4mt at a $20 discount per ton.

1mtpa at a $20m discount per annum over 4 years equates to $80m, so they get their $65m back they were going to spend with FAS anyway plus $15m (interest) for their trouble.

I'm sure similar possibilities have been discussed and they are not as simple as that but the above example or something similar would be beneficial to all parties and importantly would keep FAS in full control.

Any other thoughts on how holders would like to see this $65m play out?

No harm to anyone throwing some ideas out there IMO.

Cheers.