funding for studies blah blah blah

The deal is being reported in papers as a funding study with options if excercised @1.50 to raise a further 42 mil. My reading is after that15 months of feasability studies Chinese can walk away only 58mil out of pocketand 12.5 % of FA ! If iron ore goes south or this steel companies other interests in Aussie mines do better they may well. Deal doesn't seem to have any premium built in for 15mths exclusivity rights and getting in at 10% lower than last trade price and way below 30 day average prior to the pin being pulled. I don't want to sound like a skeptic but my DH husband bought these as SBNC a long time ago and 15 months of study time before comitting is a ways off even if acid test work makes nickel from dogs balls it is still a long way off from being a producer!
HO blo-ody HUM