Hi Chubbs,I'd like to think 30c is out of the question too. But...

Hi Chubbs,
I'd like to think 30c is out of the question too. But what are you basing the pricing on? Sure, GBG's previous high suggests that a lot of negativity exists in the price now.

But then again, if you base a pricing on the ownership of 1/3rd of it's main asset once Ansteel's stake is accounted for, then GBG may well be reflecting a fairly reasonable price, as of this point in time. Any significant negative news, ie. EPA, FIRB, CDB, Ansteel JV etc. could see the price decimated. I think GBG has had more risk attached to it over the last 6 months than what appeared to be the case over the previous few years.

Having said that, I don't expect any significant bad news, but anyone ignoring the risk, would be plain stupid to not recognise that risk exists, and therefore, why the risk to the downside is still very real.