The idea of debt consolidation sounds like good news to me, but...

The idea of debt consolidation sounds like good news to me, but who knows what the terms are of that debt agreement.

IMO
The one positive I took away from this step is it opens up the possibility of a takeover. With limiting the liability, it allows a more cashed up partner to step in (buy GBG share) and try and get Karara moving. The partner would get the chance of making Karara profitable (maybe I am dreaming with the debt load), but possibly! It would also be a chance to build a relationship with a major steel producer in China.

So what would they be buying, I think they actually have between 40-45mm in cash (cash + term deposit), Lodestone value if any and a long term call option on making Karara work.

I am saying something I never thought I would say again... I might actually consider buying more GBG shares. Well I will definitely sleep on the idea.

So yes okay they didn't fix the production and cost per tonne wasn't announced, but perhaps with more capital and resolve that can be done and fixed later.

Many thanks to Ansteel!