PIOP viability

Just re reading the half yearly report.  I note the paragraph-

“Corporate
On 6 November 2017, Flinders entered into a loan facility agreement with PIO Mines Pty Limited, a subsidiary of the Company’s major shareholder TIO (NZ) Limited.
The short term loan facility is for a total of A$5m, available in two tranches. As at 31 December 2017, Flinders has drawn down A$3m of this loan facility. Subsequent to period end, Flinders drew down the remaining A$2m of this loan facility.
The loan facility is unsecured and requires repayment on or before 30 June 2018. Interest is payable at the repayment date at a rate of 3.885% per annum.
The funds must be used to complete all work programmes associated with the maturation work currently being undertaken at the Pilbara Iron Ore Project (“PIOP”).”

Looks to me like TIO wanted all those funds to be directed at PIOP!  Looks to me like the results are of major importance to the BBIG project.  Looks to me that BBIG need clear resource projections for their finance and project FID!  As many have stated before, looks like PIOP is the final key to the BBIG project.  Now, the question remains, how will BBIG/TIO manage a deal with FMS to secure supply from our PIOP resource?  What will the king maker, OCJ, accept?  I have a feeling that TIO will regret the day they didn’t make a knock out offer for FMS last play.  Whilst the SP is so low only a fool would believe that a typical TO bid of an 80-100% premium on the 30 or 60 day VWAP would have any chance at all.  Any new bid for PIOP would have to at least have a $1 in front, wouldn’t it?  Even newby shareholders would not be fooled with less would they?

GLTA.  Let’s see how it pans out in the coming weeks ahead.....