timeone, page-2

Ok guys,

I've spent some considerable time today doing research into who Timeone are. I think I've made a few things clearer in my own mind - based on the very meagre amount of information we have been given. I've listed the useful facts below (numbered)

#1. A lot of tidbits of info was provided about Timeone in this announcement:

http://www.asx.com.au/asxpdf/20110804/pdf/4206jhwxzy6g6m.pdf

Of particular interest is this statement:

The owners of Timone Stated: "We are delighted to be selected as a strategic investor in Pluton Resources and preferred joint venture partner for Irvine Island. Our financial commitment reflects our view on the project. Our directors and management from Rizhao Port Group visited and inspected the Irvine Island project in May 2011, and we believe this is an exciting and potentially significant iron ore project, which will produce a premium quality iron ore product."

This suggests that Timeone has multiple directors who are part of the Rizhao Port Group. That is good, Rizhao are a big player and are getting bigger.


#2. Some info about the Rizhao Port Group.
It turns out I have a friend from Shandong province (where the Rizhao port is).
He is Chinese and is completing his PhD in metals/manufacturing science here in Australia. He tells me that this region is a massive hub for iron and steel production and that the Rizhao port is a relatively new and rapidly expanding deep sea port. This is going to be a very large iron ore port for China's developing iron ore needs. This explains why there is land at the port that can be used for a beneficiation plant and why Timeone are keen to build a beneficiation plant here at all. This is good news and completes the picture a little bit in my mind as to why Timone are serious, why Rizhao port would be serious backers etc.


#3. Going back to the announcement here:
http://www.asx.com.au/asxpdf/20110804/pdf/4206jhwxzy6g6m.pdf
"We are confident that Timeone with the support of their major financial backers and Rizhao Port Group meets our criteria." Ok sounds good and points to the Rizhao Port Group and major financial backers which again is good.


#4. Another quote from this announcement:
http://au.finance.yahoo.com/news/Pluton-Resources-Limited-ASX-asiacorp-2644733750.html

Tony Schoer, Managing Director, Pluton said: "We selected Timeone as a strategic partner and investor due to the combination of financial capacity, logistics and beneficiation expertise, and their strong relationship with providers of large capital items, other mining companies and end-users. This agreement leverages all of those attributes."

It goes on to say...

"Timeone's business includes the design of mobile offshore transhipment platforms and the provision of mobile offshore transhipment services. Timeone has established a transport company in Inner Mongolia for the haulage of coal. Timeone has strong relationships with Rizhao Port Group, Sanmu and other mining and beneficiation companies."

Ok, so they apparently have considerable expertise in "building mobile, offshore transhipment facilities". In what context? For what projects? Well, it makes sense that they have this expertise IF Timeone includes directors of Rizhao Port Group. After all, isn't an iron ore port just a bunch of mobile offshore transhipment platforms? or similar? Like the sort you'd maybe have for unloading iron ore cargo ships for steel production in Shandong province. Do a google images search for "Rhizhao Port" and you'll find lots of piccies like this:

http://images.china.cn/attachement/jpg/site1007/20111108/001372acd5e91023117021.jpg

See my point? Reading between the lines - Timeone includes Rhizhao port group. This is really good news if it is true.


#5. The only real hard fact that we know about Timeone is that they have a director named "Elly Wang". I've tried to deduce who this is. This wasn't easy, there are heaps of Elly Wang's around the place on the internet (but mostly female), but I may have found a possible contender. On this page:
http://detail.en.china.cn/provide/detail,1097074211.html
A Mr Elly Wang is listed as the contact person for a company called "Sunrise Forging Company" also know as "Sunrise (Ningbo) Precision Metal Parts", whose details can be found here:
http://sunnybits.en.alibaba.com/aboutus.html

and here:

http://www.sunnyforge.com/english/about.aspx

Why do I think that Elly Wang from this company could be THE Elly Wang from Timone? Well, this business is located in Zhejiang, which is only a few hundred km from Rhizhao Port, they have expertise in forging, making machinery parts for mining, drilling and grinding. This is potentially a person who: (i) has a need for iron ore; (ii) is a businessman in the general vicinity of the port; and (iii) has expertise in heavy machinery engineering and manufacturing mining equipment (skilled to manufacture a beneficiation plant?)

Sunrise doesn't seem to be a huge business, but Timeone have potentially made this guy a director in Timeone because they need his manufacturing business and skills for building our Beneficiation plant on the cheap. This is all speculation of course. I'm hoping that Tony will provide me with some more detailed info in due course.

Cheers,

Stats.