Snookerque
The $265m is Allilance contribution of the JV. Before they have to contribute $1, FAS must find $65m. In addition these funds are not FAS, they are the JV. It is my understanding from announcements, that FAS does not receive anything until iron ore sold. There was a reference that Alliance would advance them funds to clear all debt. So it could be 3 years until FAS receives any profits from the JV. Esperence Port still has not been decided. However, maybe FAS may get revenue from advance purchases of iron ore.
DYOR
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