Ann: Karara Operations Update , page-24

Prove me wrong... This hit new lows buddy.

This announcement is basically saying another delay and that we have burnt through all of the recent loaned kml cash. We are now on a new variation of a loan being a prepayment and hoping we can do another such deal.

Also no physical way they can repay that loan due later this year so they are seeking new terms...

I'm dont doubt the infrastructure built is first class. However financially this was too big of a project for gbg to handle. The working capital disaster just keeps dragging on, and gbg has tapped out the now non existent equity markets.

Don't know how anyone could be rosey about the situation if they could comprehend the cash predicament.

Ansteel has money? So what. They won't lend it for free mate. The prepayment is life line 2. They are being generous.