few of you are not getting the point it’s damn NOT about reaching the name plate right now!
It’s more of the urgently required funding for repair (200m+) plus the regular re-payment of debt (i.e. around 350mn every qtr). ore pricing is adding salt to the GBG shareholders wounds, and Iron ore pricing can remain very low for forseeable future at least for a short term.
Stock is getting hammered due to uncertainty whether Ansteel will be successful in negotiating with Chinese bank so they can delay the scheduled payments of loan as previously agreed.
Name plate will be reached eventually in about 4 months or 9-10 months (super worst case scenario), regardless of iron ore price.
As long as the lending facility stays good (may be with better terms). GBG stock price will bounce back to mid or low 10cents.
GBG Price at posting:
7.0¢ Sentiment: Hold Disclosure: Held
