whats happened and what is happening?, page-8

quote from 12/12/11 announcement;

Elly Wang, a Director of Timeone, said: “Irvine Island is an exciting iron ore project and we see strong
demand for its premium iron ore concentrate in Asian markets. Our commitment of $30 million to the
Company and reaching agreement to extend beneficiation capabilities in China, before the project has
been approved, is evidence of our commitment to Pluton and the potential we see in the project. We
look forward to working closely with Pluton for the benefit of all Pluton shareholders.”

Timeone is not a charity, it takes a position to make money. So far Timeone have spent $10,504,688 for 29 million shares. In the event that the remaining $19,495,312 changes hands for a 30% stake marks a pivotal point, because the profit driven Timeone Holdings ltd is committed and estimates this to be a sound money making project. This also increases the chances of a positive PFS.