Hey Poptrader,
Best guess they secure the $65m they need and also sell 20mt via off take 5 - 10 cent range with upside depending on drilling results for SHIP North and as they get closer to production.
Iron Ore Spot Price has been moving north last few days can't hurt off take negotiations ;)
I imagine we will see a slow share price creep up until the quarterly report. As people take up positions.