Hi Kooka,I am not worried that Ansteel won't contribute the...

Hi Kooka,
I am not worried that Ansteel won't contribute the balance of equity or that the CDB loan will not eventuate, I think both of those events should happen as planned. My concern is not with GBG, but with market perception and global demand.

I am concerned with market perception of the current global situation. Some people imagine the market is bottoming or close to it, yet all the global markets indicate a recovery is still nowhere in sight. What if it turns out that as the global economies slow, that this turns out to be just the start, and the US problems, just the tip of the iceberg? No-one really knows, and so far the experts have been caught out time and again.

People talk about a sharp recovery as if this is just a minor hiccup - it's not, it's far greater than that.
Markets will probably not recover for a long time. Sure it will bounce when the US congress passes the package, but the exuberance may be shortlived because the underlying problems in the US and global economies remain and are worsening.

It took the markets over 6 years to recover from the 1987 crash and yet the financial situation now is far, far worse.
Look at the number of banks that are failing around the world, look at what the price of oil is telling us, look at what commodity prices are telling us, the price of gold and gold stocks, property prices world wide, and this is only 12 months into it.

But yet, China is expected to buck the trend indefinitely. That is what the US thought of themselves too not that long ago. From powerhouse to smokehouse!

The markets were stunned at the failure of the package to pass congress and they were stunned by the speed and severity of the credit crisis. We are a long way from the end and the markets trust and confidence has being shaken and eroded.

A word of thanks to those who replied to my earlier post in a very professional manner and chose to accept it as genuine concern. As I said, if you're not in GBG long term or unable to ride it out, then you should review your situation. GBG will bounce at some point but another concern is GBG has kept the market fairly well informed so finance or EPA approvals etc. may only receive a short term response. Then again, it could go through the roof- but who really believes that?