GBG will be debt free as stated by GJ. Why did he state this? The additional debt financing for KML by CDB is guaranteed entirely by Ansteel, not GBG. It will be repaid from operational capital and not the JV partners directly, will it not? George made an open public statement which has been confirmed by CCZ. Are they both wrong? I think not.
Also interesting to note that Ansteel are going to make the final payment of $144M, which Ansteel have confirmed is "in Australia and that payment will be made irrespective of whether the alternative offer is accepted". Just a few more pennies in the kitty.
A company going into a project of this size debt free is an exceptional long term outcome for all.
new announcement .. funding proposal, page-106
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