Just throwing out some known information feel free to correct if...

Just throwing out some known information feel free to correct if you find different.

know one is saying this is not high risk.

Karrara are already shipping approx 8mtpa through the port just not at 68%FE. only 65%FE.

They are expecting to be cash flow positive shortly before nameplate.

GBG has less possible control over Karrara. If it coomes down to a decider then Ansteel wins the vote but i think there wont be many of those as they are working in the same direction. the board i think cannot influence the selling of the ore price it is set at the platts index.

a serious snag is they will need a lot more capital to fix the plant bottlenecks and we have to rely on Ansteel for themoney diluting our share even more. (possibly 200 million needed)

The Vice preident of Ansteel is now the MD of Karrara. T o me that shows they have no intention of letting this project fall over. why do i say that? their honor system would put some serious disgrace on their families if this goes belly up and Ansteel takes a whack. they are not australians and dont think like us. For GBG to get chased down for money from a collapsed Karrara then Ansteel would be in the same boat and their management aint gonna let that happen. I have said this once before on here. Ansteel have their own dedicated city in China that caters to their production.

China is looking at higher quality ore to reduce pollution which will affect all IO mines one way or the other over the next few years. If Karrara is still operating at this time it will be a boon for them.

So my opinion in the end is it is still worth throwing some money into their shares but be prepared for it to vanish or grow. if this is your lively hood buy something else until the good news starts coming.