Kessler, What I was refering to was, as per their agreement and underwriting, if Ansteel was forced to fund GBG's share of equity as well as fund GBG's share of the project expenditure, which totals up to a few $100's millions, GBG would have to compensate Ansteel for that, over and above the 50% profit share.
I doubt Ansteel would be saying- 'she'll be right mate, your shout next time"!
Ansteel will have access to the IO regardless by way of the agreement, but they will not underwrite and fund GBG's share for free you can bet on that, otherwise, why should GBG bother to raise another cent to go towards the project?
On your other point- While Ansteel are buying the concentrate, Ansteel, (through their shareholding), would still want a share of future profits by way of dividends from the 50% of the project that isn't theirs, which would work to offset their own costs? Is that what you meant?
GBG Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
