can trf vote in the ife agm, page-2

Nice post.

Re: when money would be available, the presentations given to date have stated that 95% of the agreed price for the ore would be paid up front ie when the ship sailed (and I assume held on account) and that the actual price taken when the ore was delivered would then allow for adjustments of price ie pay a little more, no more, or even take a tiny bit back.

Now a ship from South Australia to Asia takes about 10 days or so (certainly under 2 weeks) depending on where you are going and what speed you have available. So if Jan 2012 was first shipment then mid-Jan you could expect the first dollars to flow.

A 50,000 tonne delivery would net just under 4 million (after mining costs), lets say a few more shipments over the next few months (20 a year just to get to 1 million tonnes) and there is your 10-15 million in cash by March or April at latest.

Tell me again why we even need to consider ANOTHER issue of shares?