is this the week?, page-13

FYI:

Here is the article. Thanks hapidayz

"FairStar Resources (ASX: FAS) is preparing to announce details of an off-take agreement, with the ASX granting the company a trading halt. FairStar's shares are now in pre-open.

Recently FairStar said that negotiations were continuing regarding off-take of ore from the highly regarded Steeple Hill Iron Project, which is located in Western Australia's eastern goldfields.

Almost uniquely, Steeple Hill is located near existing transport infrastructure and blessed with no overburden providing it with a lower cost and clear and unencumbered path to production for relatively low capital expenditure at low operating cost.

Better still, the project will be cash flow positive from its first year of production. The project has a resource of hematite rich gravels, which produces a hematite fraction of direct shipping ore.

The funding deal between FairStar and Alliance Super Holdings Pty Ltd is non dilutive and will transition the Steeple Hill Iron Project to production via a 50/50 profit sharing joint venture.

FairStar has already secured irrevocable commitment to fund 80% ($260 million) of the project, with the company in talks for the remaining 20% of funding.

FairStar said that in addition, a line of credit totalling $640 million, above and beyond the $260 million invested by Alliance Super Holdings - and well in excess of the $320 million capital/funding requirements for the project - has been secured as additional capital/funding available to the joint venture if and when needed.

The trading halt is espected to last until the earlier of an announcement being made to the market, or the opening of trading on Wednesday 7th August 2013.



Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China."