todays west aust paper, page-10

Do GWR have any assets to sell in order to fund the iron ore drilling and potential feasibility studies - if not a 17% sell off to FAS may far exceed the dilution of the share price you will get by proceeding alone.

Have a FAS a potential buyer for one of their assets??

The issue of the shares on the 19th will result in immediate dilution of GWR shares - when will the next 10% occur - I personally would rather see an asset base increased thus eliminating any dilutionary effects.

When you do the maths on future potential cashflows the effects of the dilution are always greater with a small asset base