I thought its its 30m share of gbg out of 60m that ansteel may convert into holdings in partial or full....so its not really valuing gbg as 44.6 cents but actully 22.3 cents...
No material issues in commissioning and ramp up but hey delayed 8mtpa nameplate capacity from end of march to end of april...
No material issues encountered but they only reached 70% nameplate capcity even at he end of april with only 63% grade...
Still no material issues but they will reach nameplate capacity with 68% fe grade during this quarter...
No material issues but they loaned 50m from gbg and 50m from ansteel during march quarter for working capital...total 100m
Just in the begining of april they loaned another 30m from gbg and 30m from ansteel for working capital..total 60m
Cash during last quarter was 70m and they received 22m from ansteel placement...so they had 92m cash but now only 40m cash at the end of this quarter...so they burned 52m in last quarter....
Correct me if iam wrong but do you need that much money only for working capital...
GBG Price at posting:
18.0¢ Sentiment: None Disclosure: Not Held
