My concern about GBG comes from Ansteel and Pansteel.
So far as I know, Ansteel is undergoing a group consolidation that is still pending in China Securities Regulatory Commission. GBG shares and Karara project are major assets in exchange for control of Pansteel that is a multi year loss steel maker in Southwest China. Pansteel admitted that it would support Karara and pay Ansteel's shortfall for Karara and GBG.
Can Pansteel pay our more than $400 million by the end of 2011?
Can anybody raise my concern on AGM?
the worm, page-12
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