gbg absolute bargain of the century, page-3

In answer to your question-

GBG is reported by the company to be "currently" sitting on over 3 Billion tonnes of magnetite IO with a proven resource of around 1.4 Billion tonnes.

Using the formula of GBG's MD, this is equivalent to a hematite mine based 5-600 km from a port, sitting on 1.2 Billion tonnes of hematite.

To say GBG is undervalued, appears a gross understatement.

Considering, approvals, finance, power, and of late, future transportation, all seem to be progressing positively, a market cap of under $500m does appear a bargain when compared to many others .