Enjoyed lunch with GBG along with 240 shareholders in Melbourne. Good presentation by GD. From my notes;
GJ is away strictly for medical reasons and should have taken time off years ago, they did name the condition Geoff Wedlock is standing in, not a bad replacement in my book The BFS was for 400 Mt, the resource is now 2.4Bnt and they are still drilling EPA recommend approval, the Premier will sign off in Sept, he strongly supports the project and it is now within a special department reporting to him It is shovel ready and digging will start in October. Long lead items are ordered or already supplied Haemetite will start shipping late 2010 and magnetite mid 2011 They can ramp up to 14 Mtpa before they need Oakajee Financial box is ticked Product of benef at 68% with 0.01% P should keep Ansteel happy Rail issues exist but that is for ARG/QR and WestNet Rail to resolve Power is good for 30 Mtpa, water for 15 Mtpa All other planned orebodies within 25km of the railhead
I am interested to learn what others heard eg the 220 in Sydney and 200 in Bris
btw
GBG Price at posting:
69.6¢ Sentiment: None Disclosure: Held
