Ann: Resources Rising Stars Presentation , page-52

I keep thinking about KML spending money like there was a never ending supply putting in place infrastructure to support 30mtpa and then when more money was required to complete the 8mtpa phase all of the sudden GBG became Ansteel's poor cousin who needs to be rescued rather than a partner! A liability who should give up share of KML to Ansteel at a rock bottom price since GBG continues to be reliant on its Chinese partners to complete the project. Well GBG was always positioned as a partner with Ansteel that was being given the same treatment as Ansteel by its Chainese partners otherwise GBG would not be a viable partner. That is still the case and Ansteel should stand up and continue to support its partner GBG for better or worse IMO. sdo