meanwhile back at the ranch, page-15

Nice profit margins Corporate.


GBG should if all things go well be getting a very tidy income from 1mtpa hematite and 4mtpa magnetite that sells at a premium.

If FE prices hold or go higher, GBG could be looking at 350 to 400 million in revenue. Shouldn't be too hard to make loan repayments and pay ongoing costs.


Ramping up to 2Mtpa DSO hematite by December 2012
• Commissioning and ramp-up to 8Mtpa Stage 1 capacity to continue November 2012 - April 2013
• Karara infrastructure, hematite mining and magnetite concentrator have been delivered, production ramping up to 10Mtpa
• Initial construction includes infrastructure to support Stage 2 production of 16Mtpa