progress update from site anyone?, page-4

Good to see that commissioning is progressing.

Got some more Today at 24c on the basis that there is a salvage price here greater than 24c should things go wrong.

After the last CR we have a MC of $337m at 24c. This would increase by $22m when the shares are issued to Ansteel as part of the CR.

In the last annual report the 50% JV value to GBG was $694m. Therefore one can say that if Ansteel took over the JV due to GBG running out of funds the price would be at least 49c

You can go back to MMX to see what was paid for their mine but remember that GBG has the RAIL LINE AND PORT which MMX did not have.

Yes, at 24c, I cannot see any risk and looks like the Directors think likewise as they are now buying and that is not usual for them.