No $1 yet frustrating I know I feel the same,Xmas will not be as rosy as I hoped no Grange just lots more Corona
I had a bit of spare time so I phoned Michael Weir the inverstor relations officer at GBG with a few questions and conserns people have voiced on this thread.
The extension of the time frame on the $1.2 billion loan through CDB is due to the fact that a loan of this size has to be forensicaly anylised. Every document has to be translated sent to China agreed to the sent back to Australia and so on. Imagine your last mortgage document multiplied 1.2 billion times translated into Chinese, being sent to China proof read, changed and then sent back to you in Australia.
This is going very well but is taking longer than GBG had expected, however it will be finalized by the end of the 1stQ 2010. It will be a 10 year loan and will be LIBOR plus 300 basis points which is probaly the best money rate in the world at the moment if you can get it.(Better than my home loan)
The construction progress of GBG will not be affected by it
The off take agreement discussions are also 100% positive and will be also confirmed in 1stQ 2010 The premium will be around 10% to the benchmark price and obviously move with the market but stll very good for GBG.
I would say to holders call GBG and speak to Michael Weir. I have many times and he has always taken time to address my questions. Not put me on hold I will call you back blow you off etc
GBG is a long term investment and I beleive a dam good one.
If people make investments on what they read on HC lookout!
ooops nearly Conona oclock
R & R
GBG Price at posting:
95.4¢ Sentiment: Hold Disclosure: Held
