Gindaldan, you know I view most things with a fair dollop of sceptism, but in this case there is virtually zero chance that approval from the Chinese will not be forthcoming.
There are still a number of things that can hinder GBG's progress but that one won't be high on the list.
Chubb's,
I"m with you on that. GBG could and should have negotiated terms similar to what you have suggested. It comes back to that "call option" and "panic" question, eh?
Instead, the board did the one thing they always promised shareholders they wouldn't do!
What would have been Ansteel's option? Finance GBG's contribution on reasonable terms OR, dissolve the JV, lose access to Karara and get sued for failing to honour the terms of the agreement!
dahh, which one would they choose?
Gindaldan, you know I view most things with a fair dollop of...
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