Your right, Ansteel are buying into "KML" through each instalment. They won't own 50% of the shares in KML until the final instalment of $143m is met. There isn't anything Ansteel can do with the money placed into KML except the development of Karara, and related projects. What worries me is a "delay", which will have a direct affect on long term holders.
I'm hoping on the theory of China manipulating the iron ore market for the next round of contract prices. Ansteel have nothing to gain from "manipulation" through GBG, so we shouldn't be messed around like MGX. I was almost contemplating buying a small MGX parcel, however wanted to see how the DOW goes tonight.
I'm hoping on a bounce and the crisis to sort itself out. Its just horrible to see so much capital vanish everyday.
GBG Price at posting:
44.3¢ Sentiment: Buy Disclosure: Held
