only belive it when the cash is in the bank, page-2

Mate, pls read the latest Ann....

"Ansteel has made its first A$50 million subscription payment..."

As part of its contribution to the equity funding for the Project, Ansteel has subscribed for 10 million shares in the Joint Venture‟s operating entity, Karara Mining Limited, giving it an initial 19.23% stake in this joint venture vehicle. The first A$50 million subscription payment has been received and banked in the Karara Mining bank account. Further subscription payments by Ansteel will be made as follows:

April 2008 A$55.0 million
July 2008 A$123.4 million
October 2008 A$143.7 million