I agree Brian, that's the overiding factor on GBG's price...

I agree Brian, that's the overiding factor on GBG's price escalation from here on. It's a guessing game as far as the IO pricing negotiations go though.

Irrespective of the downturn in mining, labour and building materials are still in excess of what they were in April 2007, so the original BFS would need to be reviewed to establish whether 2007 IO prices would still deliver as "robust" a project as first thought.

The 12mtpa BFS, which is overdue along with everything else promised for last year, should take that into account though.

As high an IO price as possible is critical to GBG's shareprice and future, yet in a weird conflict of interest, our 50/50 partner, Ansteel, would be hanging out for the lowest possible IO prices!!!!!!!!!!

Got my fingers crossed there is a happy medium!