The short answer is that - "no one really knows". Every bit of communication that i have seen regarding this direct question has always been coloured in 50 shades of grey. So us mug punters are none the wiser.
I have seen announcements that appear to say that the current GBG cash equivalent of approx $36m is "safe", following the vote that was conducted about a year or so ago. But then there are others on this forum who have a different opinion and believe that the current cash in bank could still be at risk.
My saving grace is, why would Torrens Mining go into a Joint Venture with GBG in the Mt Gunson Project if there was any likelihood that the Chinese banks (or Ansteel) could pull the rug from under us?
If Karara bankrupts, can Ansteel take control?, page-2
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