lowest share price in over 7 years, page-19

We have 3 times the amount of stock on issue since it was $1.70. The reason it is 3 times is due to poor working capital management.

2007 & 2008: shares on issue 512m or so
2009: 735m or so
2010: 935m or so
2011: 1,247m
2012: 1,490m (post Ansteel placement to come).

The viability of the project is now in question, hence the share price (or low market capitalisation).

Every placement has been done at lows, with the exception of the 2008 (but approved in 2009) placement to Ansteel. However GBG should have raised capital prior to this event anyway (which they did not of course).

Thanks to the huge amount of shares issued at a 7 year LOW, we will now suffer with insto penny dread trading.

We are truely $%^&ed if anything materially wrong happens during the commissioning.