July 22 (Reuters) - Ferrum Crescent Ltd FCR.AX :
* Update re PMI funding arrangements FCR.AX
* PMI concluded financing agreement which will enable it to fulfil all of stated immediate commitments under bfs financing agreement
* Says company awaits access to funding from PMI to advance work on the bfs
* Says board remains confident that it will conclude all financial arrangements with PMI in the coming weeks
* First R2M payment required to be made by PMI yet to be received by Ferrum Crescent
* Source text (http://bit.ly/1IebjXT)