Ann: TNG raises $5.5M after receiving additional commitments, page-16

However the quarterly report released today had the following in it. Page 3, 3rd para, Col 1

"This Memorandum of Understanding (MoU), which was outlined in detail in our June Quarterly Report,lays the foundations for TNG to enter into binding agreements with Hyundai Steel for the financing and development of Mount Peake, and encompasses strategic co-operation with Hyundai Steel for a potential cornerstone investment in TNG and
potential long-term off-take arrangements for the Mount Peake iron products. Importantly, it also considers all of TNG’s resource projects."

The way I read it, this all becomes a reality when the DFS is completed. Funds are now locked down to complete this in Q1 2015 - so 5 months away. I also understand from the ann's that Tivan and the DFS is advanced. It could be earlier. PB keeps it all close to his chest.

I think we know where the finance is going to come from. Most likely at a guess the Korean Investment Bank.