I think we are getting a bit carried away with first shipment it is not. What they are shipping is DSO we have shipped that before, with the Sino agreement last year, think it was 500,000 tons from memory
The real game is Magnetite concentrate they have not started it up yet. Great that the railway,storage sheds,ship loader are working,all a good chance to get some PR god knows we need it, as well as a bit of cash.
The perceptions and worries that are hurting this project and the share price, are cost per ton, exchange rate,cost over runs, possible cap raising. (hope not) and whether the process actually works, everybody doubts it can deliver all these things.
As for the ship loading shipping contracts have "lay days" for bad weather etc and it will be paid via international banking mechanisms once it is surveyed and the bills of lading are complete so a few days yet.
I am not Down ramping i want this to get up as much as anyone perhaps more than most, there is a long way to go yet.
R&R
GBG Price at posting:
29.5¢ Sentiment: Hold Disclosure: Held
