Hopefully this $65m is secure and as good as done but if it is...

Hopefully this $65m is secure and as good as done but if it is not and negotiations aren't progressing favourably why not as a last resort try going to us the shareholders, sounds ridiculous? probably but in tough times such as these creativity is required to get deals done.

How about something alone these lines? Ballpark figures obviously.

10:1 share consolidation reducing our shares on issue to 135m and a new share price of 45c.

Offer all current shareholder a CR opportunity at 32.5c per share (approx 30% discount to current SP) with a guaranteed OPTION for those who take the placement for FAS to buy back those shares within say three years at 45c. This, quite possibly would create some short term volitility to the SP between 30-45c until the placement is settled but who cares.

This would require the offer of 200m shares taking total shares on issue to 335m or at 45cps a $150m market cap which is extremely cheap for FAS who would now be a producer.

FAS should never have to buy these shares back as the SP should be well north of 45c by then anyway.

Obviously for this to work every detail for FAS transitioning from explorer to producer would have to be set in stone from infastructure, rail, port allocations, offtakes etc etc...... so the transition was a certainty.

Lets say we have 4700 shareholders, this would equate to around $13800 each to raise $65m, some would not want to participate others may want in for millions, first in best dressed arrangement.

Who would be a starter? I would.

Snooker mentioned the $65m had to be a loan so this type of arrangement may not even be an option but just a thought.

Fingers crossed for some positive news this week regarding the finance, if late yesterday was anything to go by we may be close.

Goodluck all.