FAS (ASX) calm before the storm?

Originally posted by rumbai12 ↑

rumbai12---let me try and clear a few things up for you.
1/The 4 companies they claim to be dealing with at the moment are Funding or loan companies--not to be confused with off-take partners.
2/An off-take partner or partners are the steel mills placing orders to buy the iron ore--that is the 80% requirement--they need to have 80% of the first 20million tonnes "SOLD" before that condition is met.
3/You are saying the average cost for iron ore from this area is $70/tonne---that may be true for the bulk off the other companies that have to drill and blast--This is alluvial iron ore that has no over burden and does not require drilling and blasting,therefore ,as KR clearly stated in his radio /tv interview that it wouldnt matter is the bottom fell out of the market,that this first 20million tonne is so cheap (it only needs to be scraped off the surface and washed)they could still make a very healthy profit.
Once they start mining and the options are converted to FPO shares there will be a tad over 1.6 billion shares.The figures you used would be totally different with all these totally different conditions----less costs----less shares on issue----more profit and a reasonable p/e ratio.
As far as the MUIOF is concerned,from what i understand,it is being built by the private sector and will virtually run like a Toll road---that is ,the builder will let whoever has ore ready to ship use their facility and collect a fee whenever and wherever they can,please correct me if i am wrong regarding this.
All i can say now is thar Fairstar seems to be doing a lot of work to get this project up and running and with Alliance willing to tip in $260million ----i dont see too much trouble raising $65million and pre-selling 16 million tonnes of ore.One other comment that was in the funding announcement keeps me in a positive mode at the moment---"this is only the tip of the iceberg---plus SHIP north "could" be multiples of SHIP south.
good luck to all that have been holding for a while and also,good luck getting on for those who are waiting for all the boxes to be ticked!