I used to think that , but if you analyse the ownership etc and the Karara Balance sheet , plus the general politics around the association ......
1. There's no screaming urgency for the Chineses guys to do anything - they dont need to
2, Any surplus is really being applied to loans they have advanced or guaranteed
3. The financial balance sheet is deep in negative equity & only really being kept alive by the Chinese
4. Heavy plant maintenance will be starting to kick in soon too I expect - so that will soak up any surplus
5. The GBG guys are happy , because they have plenty of cash to pay themselves for years to come - so they're not going to be pushing too hard to change the status quo - plus I dont think any of the GBG guys have a significant holding in the company .
So this could stay like this fore a very long time
Dont hold your breath for Mt Gunson - thats at least 5 years away ( if at all )
cheers
VA
GBG Price at posting:
1.5¢ Sentiment: Hold Disclosure: Held
