I can see Ansteel owning 90% of Karara soon, leaving GBG with...

I can see Ansteel owning 90% of Karara soon, leaving GBG with 10% of what will be a profitable operation by then.

It serves Ansteel well to have the current problems at Karara, but soon the mine will operate to capacity. Too late for GBG to retain much of it but enough to survive.

Ansteel will never let Karara fail. They have spent far too much and are now on the verge of seeing their master plan succeed imo. They will only want 90% of Karara and have 36% of GBG, so in effect they will hold 94% of Karara. They will want GBG as their Australian vehicle for further expansion plans. Much easier to get approvals through with a listed ASX company I would think.

All just my opinion