gindalbie accepts $162.1m ansteel share at .85, page-52

re Eureka comment

I reckon he's spot on. 50:50 project between steel makers and miners are hard

Imagine if Gindalbie were in production now and Anshan told them, we are reducing our IO needs by 30% for 2 mths or hey sell it to us cheapre. What does GBG do? say ok we'll reduce our margins for you and or sack staff?

Ain't saying that GBG won't be worth more than it is now. Im sure it will be but it won't be worth as much as it would've been thats for sure.

Anshan get the better deal here not GBG. GBG simply need Anshan a lot more than Anshan need GBG.

And this goes for all the other small iron ore companies as well.