Great to see video of our Prime Minister, George Jones and Chinese Premier Wen in China on Lateline Business tonight at at announcement on further funding for GBG (not trying to cross promote as we know the close association and near previous merger of SDL and GBG). A brief summary of GBG announcement follows:
"Gindalbie Metals says it has formally signed off on new debt funding for its Karara iron ore project in the State's Mid-West.
The facilities comprise a $US336 million increase on an existing project loan facility, together with $US300 million in bank guarantees to provide security to underpin key rail upgrade agreements currently being finalised.
Gindalbie said a facility framework agreement, setting out the key terms and conditions of the two facilities, was signed in Beijing this morning by directors of Karara Mining, a joint venture between Gindalbie and China's Ansteel, and representatives of China Development Bank.
The signing ceremony was held in the Great Hall of the People in Beijing in the presence of Chinese Premier Wen Jiabao and Prime Minister Julia Gillard."
This only whet's the appetite for tomorrows scheduled presentation in China and the pending announcement.
Could make a nice holiday snap of Julia, George and the Chinese Premier sharing a champagne after an announcement re SDL.
Anyway, not long to wait for the facts of our announcement.
Good luck all.
JR
SDL Price at posting:
43.5¢ Sentiment: Hold Disclosure: Held
