Hi all, Lots of emotions tripping around here and I'm the same. What I see is this China wants the ore and as we all know China and the companies in it are one and the same from a strategic view point. Wouldn't it be in there best interests to 1. Secure a long term high grade ore. 2. Not pay any tax 3. Get it cheap.
The best way to achieve all that is to control it 100%. Keep it loaded with debt will sort the tax issue out. If they move now they will achieve those goals using our own legal financial corporate system. Never forget the Chinese have very long term views and can see long term value and they wouldn't be operating if they couldn't make MONEY !
If all this goes ahead and we get lumbered with Mt Gunson with Ansteel owning 37% and Coda with only 10 million how long before they borrow more more money and we go down the same road once again assuming Coda actually have anything more than goat country. Ansteel owning 37% couldn't they just vote to invest in Ansteel and our piddly $10m is gone ?
Lets get a new board....do we have the votes to swing that ?
GBG Price at posting:
2.5¢ Sentiment: Hold Disclosure: Held
