This is a similar scenario like Noron't deal with Baosteel. Wes Hanson, ceo of Noront, visited hong Kong in year 2011 and was able to induce $17.4 million investment from the Baosteel subsidiary based in Hong Kong. This will lay the groundwork for a long-term partnership that would provide key financial and technical support to Magpie. The difference here is that P. Smith will have a deal directly with Pang Gang, not a subsidiary like Baosteel of Baosteel Group. So it could lead to a better investment. Considering the magnitude of the deal, it took a lot of discussion and legality work. The size of investment to take a portion of Magpie resources could be at least triple of the size of Fancamp's market cap.

Anyway, it will take approximately two weeks before P. Smith leaves his signature on the commercial paper. It’s a terrific news!!!