massive writeup in todays west, page-61

Hey Incognito,

All valid points and obviously the reason the share price hasn't gone through the roof is the ongoing uncertainty which will only dissipate with the $65m funding being secured, the fact is a big lender doesn't want to disclose to it's own holders some of the more risk on investments they undertake even if they see it as highly compelling some investors would potentially kick up a stink. For small potential iron ore miners it's definitely up the risk curve.

KR and co realising this have probably ensured they keep the lenders identity unknown until if and when they want the market to know. Clearly John Stammers is the only director of the Alliance holding company so that it is not traceable back to it's source.

I believe FRL just stuffed them around too much and they are ready to go right now also in this environment i'd rather not borrow $300m if someone will stump up $260m for half the project profits. To my mind once they get Steeple Hill and Steeple Hill North rolling and earning money they will be able to pick over the carcasses of the other would be iron ore miners should they so choose, potentially some of the gold miners as well will be going into care and maintenance. Being profitable and having no debt will place them well into the future is my point of view basically.

It also shows they weren't lying about going around to 24 odd other potential financiers seems like they have canvassed the globe lol.

What I would like to see is a trading halt early next week to say they have got the $65m dunno if that is too soon to make it happen but I hope so.

The people barking on about Esperance need to give up clearly they have access. They signed a MOU in 2008 to explore infrastructure options it's no coincidence they got the $260m around the same time the 3 finalists are going to the transport minister. They submitted their funding to Esperance and are stating they aren't contingent on the multi berth which means there is another option to the multi berth at Esperance for them. Overall I would have to say they have been ahead of the competition in this regard which means they have a good team of people and taken risks the other companies did not.


Here's to hoping we are on the up and up.