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Your correct Gmghag about the KML cash component, however KML has already ordered 70million for long term items, doesn't that show some confidence? The point of KML is so both parties: GBG and Ansteel have 50% control over Karara, and allowed Ansteel to buy 50% (JV) the mine. So really half the cash in KML is GBG's, despite Ansteel the only ones to have contributed a significant amount.

Ansteel and GBG would be in the "know" for EPA approvals. I doubt Ansteel would throw away 120 million into KML in July if there were going to be problems with Karara EPA. Also GD executed 500,000 employee options, years before they expired at these prices... GJ brought over 1,500,000 million at around 85 cent average....I'll continue to follow. GJ is a wealthy man, I think you could learn some things from him Gmghag, instead of trolling on a niche forum.