opr sinosteel, page-3

Well we have 16mtpa through Geraldton, see:

http://asx.com.au/asxpdf/20110623/pdf/41zcxdfssmt55t.pdf

Beyond phase II it doesn't look good. Explains exactly why MMX has been decimated, but nothing is ever insided.....

GBG's market cap is still cheap for its initial production output of 10-11mtpa (we get 50% entitlement). The cost blow out is the problem. No value is placed on a potential expansion via Oakjee.

I am glad to see GBG release a statement so swiftly.