a difference a day makes, page-70

Wouldn't be the first muilti-billion dollar mine to go belly up Judd. I am not saying Karara will, but the working capital situation is a significant issue and just because billions were spent, doesn't mean its 'all good'.

RIO and Xstrata have shut down multiple coal mines throughout Australia, each mine has had 100s of millions or even billions spent. Infact, Xstrata even shut down its Qld office of over 100 staff in April or March this year... I am gloomy for good reason.

Ravensthorpe, same deal. BHP spent $3 billion and mothballed it. Sold for a few hundred million in the end. I know this was during the GFC, but the mining stocks are all back in GFC mode.. So I think it is comparable.

GBG's shareprice is due to the fact it has no money. Its a real risk. We cannot fund any blowouts, hence the equity deal in KML. GBG has raised over $600m via equity markets, and its market cap is well less than half that. Even the recent $60m at 25.5 cents is now 'expensive'. They have lost credibility.

As you can tell I am fuming (obviously). I am spending too much time on here I think and it is making me angry! So this is enough from me for a few days.