gindalbie metals - a rational analysis , page-4

As per last quarterly, KML and GBG are out of cash. Hence we had to sell some of our interest in KML. Not good.

The issue is conditions are bad around Geraldton and we cannot send out any ships. Given we have no cash, its almost certain that GBG will have to sell more of it's KML stake to Ansteel, subject to FIRB of course. The $30m deal was really only 1 month's worth at cash if you base it on last quarter's average cash burn rate.

Im concerned, and rightly so. Hence the 8 year low in the SP....

My tone may seem negative, but I am merely pointing out a potential company destroying fact which explains the low shareprice. I have no doubts GBG will rocket up, so long as this issue is addressed in a timely manner. But if we are not shipping more ore out soon, then we will lose more of KML again...