I read the physical paper so unfortunately can't post it.I wrote...

I read the physical paper so unfortunately can't post it.

I wrote something about it on one of these threads.

But to quickly summarise:

Ansteel are ONLY obligated to purchase magnetite which is 68% Fe. So the contract is theoretically VOID at the moment given the iron content is around 62% at present. So I assume it's been sold on spot, and the AFR stated Ansteel have not bought any of the magnetite.

This is nothing to be concerned about unless of course we cannot reach the required Fe.

Also, GBG will sell 20 or 30% of the ore once at 68% Fe to companies outside Ansteel. If they cannot sell it, the terms of the contract with Ansteel state that Ansteel will have to purchase it. So this is a positive.

Although I must admit I was under the impression that Ansteel wanted all our ore.... Doesn't seem like the case, nor does it seem like they need it. To me this suggests stage 2 expansion will be in question given Ansteel's needs. Also suggests to me Ansteel would be less likely to takeover GBG at present.

Just my thoughts on what was revealed.