Ann: TNG to undertake $12.5M Entitlement Issue, page-87

Existing holders include -
The Browns - I've no idea if they bought back into FMG, but if they did re-invest they've repeated their once in a lifetime investment choice with FMG up 1000% from when I first looked at FMG & TNG in 2015 (& backed the wrong horse)
Salgaocar & Bro - Vimson - Private wealth with solid (family) ties to Mukesh Ambani who has been very much making news lately - From all indications Ambani is one that will make sure India will need lots of steel & therefore quality Iron Ore.
Sparta AG/Deutsche Balaton - this is speculation because this investment still makes absolutely no sense to me (they don't have any similar investments in this sector) - if I was a wealthy investor looking to invest anonymously, this is one way it could be done.
Aosu - FMG & Roy Hill as well as Cape Preston were backed by China to introduce alternate Iron Ore sources to the 3 majors. TIVAN is a tech that it would be a gamble NOT to have a stake in as it extracts high value from low quality magnetite at low cost.
SMS Investments - family owned business - have a significant stake in seeing TIVAN succeed.

With the Exception of Aosu, assuming I'm right about the Sparta/Deutsche investment, these are private, wealthy individuals/families.

These funds are earmarked to get the project to a "Shovel ready" status.

Morrison, Trump are pro-mining & are dedicating taxpayer funds, government resources to expanding the mining industry.

There are plenty of reasons for the top 7 to take up the difference IMO.

Then there is the Todd group.