Hi am a newb to this stock so let me see if I understand this ann today correctly...
1) FAS is giving 50% WI on steeple hill for $260M initially (to go towards funding the project) as long as it finds a partner to also chip in $65M (for I imagine SPP or WI% yet to be established).
2) 'It is currently in advanced negotiations with four parties to secure the remaining 20% as well as an offtake agreement covering up to 80% of the initial 20 million tonnes plus 4 million tonnes of ultra-fines.' - not 100% on this one as Pauline would say please explain?
3) So therefore a total of $325M towards the project plus $640M of assured lined of credit to fund the project further when\if needed.
4) All existing FAS debt will be paid off by these funds
