new announcement .. funding proposal, page-51

I'm aware $1+ is a lot to ask for, however I will simply vote "no" and seek the debt option. The debt option exists, Ansteel haven't pulled out from the project.

Karara is viable under significantly lower iron ore prices, i'd much prefer to pay off the $143 million Ansteel debt with cash flow than significant dilute existing shareholders by over 50%.

Remember the initial intention of GBG was to use issue equity to fund our contributions. The reason the debt clause was in there was in case of a situation like this, ie creating unneccessary dilution. I suspect board and management were expecting a $3 sp by now. I doubt the board will accept a low ball 50c to 60c offer based on the point of the debt option. 526m or so shares to over 800m? When we can have a commercial loan?