new announcement .. funding proposal, page-110

We won't know until the announcement comes out. As far as you know we might get a simple "declined alternative offer, we have taken on $143m in debt - equity component finished".

However an indepedent expert is being conducted, this takes time, espicially at the last minute. The board then needs to assess the information presented and make a formal decision before presenting it to shareholders for voting etc. This decision will affect the company FOREVER, you need to properly analyse all options to determine what will be the best option for shareholders in both the short and long term. The recent financial mess has significantly increased risk, and our ability to meet debt repayments. Remember we do not know the TERMS of the debt. A significant proportion of our KML holding could be the guarentee for the $143m loan? We simply don't know, it hasn't been released. If thats the case it doesn't surprise me that the board is considering this alternative.

If we accept the placement, then GBG is essentially risk free. The CDB loan is in KML backed via Ansteel. Its safe. Companies like FMG have a significant risk given the current environment, we don't know whats going to happen.

I'm hoping for a $1.20 + placement price, which would give Ansteel 30% control of GBG. However I know I'm most likely dreaming. I can't wait to see the proposals put forward.

Chubbito if you don't like it, simply sell. But I bet you will not be able to find another "world class" project that will get off the ground in the next few years. Vale, MGX, FMG etc have all CUT PRODUCTION or EXPANSION PLANS for good reason. How will unfunded juniors get in production? I'll leave the answer for you to decide....

The upside is long term. 95% of the hopefuls will go broke, and literally no new projects will come online. The next boom period will be stella for Gindaldbie.