...Yes very interesting......"US FUND MANAGER HARBINGER CAPITAL...

...Yes very interesting...

..."US FUND MANAGER HARBINGER CAPITAL BACKS WINDARRA NICKEL PROJECT
WITH US$50M FUNDING PACKAGE
Poseidon Nickel Limited (ASX:POS) is pleased to announce it has achieved a key
milestone at its flagship Windarra Nickel Project after finalising a US$50 million (A$53
million) funding package that will enable the Company to continue the rapid development of
this historic project.
Leading United States fund manager Harbinger Capital will invest US$50 million (A$53
million) in Poseidon by subscribing to an issue of Convertible Notes.
Poseidon Nickel Managing Director, David Singleton, said the funds will assist Poseidon in
its plans to become one of Australia’s largest and most profitable independent nickel
producers
The Convertible Notes will be priced at a substantial premium of approximately 25% to the
closing price on 25th June 2008.
The funds will be used to develop the project feasibility study, to complete the mine
rehabilitation works and to continue its exploration and resource development programme.
Poseidon Nickel considers this substantial investment by one of the world’s best performing
investment fund managers represents a major vote of confidence in both the Company and
the potential of Windarra.
Harbinger has in recent years established an unrivalled reputation as an astute early
investor in emerging Australian mining companies.
Mr Singleton said “This capital raising is a milestone in the Company’s development as we
stride towards our goal of becoming a major West Australian nickel producer.
“The terms of the Convertible Note are, in my opinion, very advantageous to shareholders
and reflect the faith vested in the Company and its management.”
Mr Singleton said Harbinger’s close relationship with Poseidon Nickel Chairman Andrew
Forrest was the key element in securing the agreement.
Harbinger has been a long term investor in Fortescue Metals Group and has advised
Poseidon that it sees similar growth opportunities through this investment."

...Keeping an eye on this one !!!