Timeone/WEG Breif History and a couple of points i just picked...

Timeone/WEG Breif History and a couple of points i just picked up. Enjoying a nice cold bottle of the south west's finest SSB too. (So please feel free to correct anything)

Ann 4/8/2011
"Timeone was selected following a detailed evaluation of a number of interested parties to identify a
suitable partner to assist with the development of Pluton’s flagship Irvine Island iron ore project"

"We are confident that Timeone, with
the support of their major financial backers and Rizhao Port Group"

This was all on the back of Irvine PFS and as we all know Timeone was picked due to bene, Logistics, plants, tech, land access etc etc.

Bring on the 30% @ 0.355. (Premium on at the time SP of 0.25)

T1. Tick. $5m

Now in comes Cockatoo. 23/8/12 (One of TS better moves btw)

T2. Tick. $5.5M subject to offtakes.

T3 17/1/12. Ext to 17/2. $1.8m

Now this is when imo it starts to go sideways.

Note from SS&T shenanigans dated 10/9/12. Loans via SS&T. 26/2,10/4 and 1/5/2012.

T4 22/2/12. Ext to 11/4.

Ann comes 12/4/2012. Timeone/SS&T.

T4-A Late. 12/4 $3m
T4-B Late. 11/5 $2m

The loans started 26 feb 2011 with SS&T. Whats with the late payments then??

Total Holdings 48,845,070. 19.1%. $17.4M. ($5m via SS&T Loans??) What about the other 10%?

SS&T booted. Aussies in. Aussies out.
WEG come up with 12.7m in Presales and 1MT offtake.
Cockatoo. SOLD!

PLV Producer!!

Termination from 50% asset sale. ?????
"conditions precedent to the completion of the agreement had not been satisfied by the required date"

PLV 100% Producer!!!

What can we add here on Friday??????

GLTA.

PS. Making up for Satori and Buddy here.