GMD need SBM now more than ever.
SBM can stand alone even with their mill not running at capacity. They just have additional capacity.
GMD have dirt but no mill, but GMD not the only one's in the area with that problem, so toll treating arrangements are in favour of SBM.
GMD will find it extremely difficult to raise the capital required to construct their own mill without a large dilution of current shares on issue.
GMD's / CEO's are hardly ever seen again when that happens.
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