GBG just gave away 10% of a $3bn project for $100m
Good deal if you are Ansteel. The other $130 m appears to be basically a loan. We now have to repay this with only 38% of the KML income when it happens.
Also I am a bit wary of working capital only up until Dec. How much more do we give away then if we are still short.
Cant see why people think this is a good announcement.
Cheers Gmac
GBG Price at posting:
13.5¢ Sentiment: None Disclosure: Held
