bottom should be coming this week, page-25

This is what Australia gets for voting in a bunch of socialists. I hope the voters finally realise how much labour can and has ruined the economy in the past.

I doubt we are near the bottom, this tax GRAB will utterly kill GBG and all other miners margins. 5-10% would have been acceptable, but 40% on operating margins is criminal. BHP is down 4.5% on the FTSE, looking like another bloodbath tomorrow.

I hope our relationship remains strong with Ansteel. However it is now doubtful that Ansteel will use GBG as an investment vehicle into other Australian minerals. We are no longer competitive, and have significant sovereign risk. Thanks Rudd.