its not what they would like us to beleive, page-14

Ansteel always dominated the project.

To suggest that the pending reduction in GBG's equity of KML to roughly 48% gives Ansteel control of the project is ridiculous.

Ansteel always had control. They were and are GBG's major shareholder, and they did own 50% of KML directly.

Effectively, prior to the last refinancing deal, they owned roughly 68% of KML, 50% directly and 18% indirectly through GBG. They will be moving to 70%.

GBG ex Ansteel's interest was always a minority holder in the project that is KML.