I am a little skeptical. Don't forget the iron ore price is dropping. How much is the cash cost of the Marampa iron ore? I didn't see an agreed minimal volume of iron ore mined in the next 4 years. What happens if Timis doesn't mine any?
From face value, the deal looks too good to be true...
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- Ann: Cape Lambert US$20M Funding Agreement to Timis Mining Corp
Ann: Cape Lambert US$20M Funding Agreement to Timis Mining Corp, page-50
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