project operations update, page-15

Bad news - yes delayed again but not by much. Ansteel said they would cover forecast running costs and this is extra but how much? $10 million? $15 million? GBG has plenty of cash on hand now so we can cover our 47% of the cost.

Good News - we shipped approx 4 Million tons last financial year and now they are saying we will do approx 4 million tons in the first 6 months to December - thats twice the rate of last year so looking at 8 MTPA. the release did not say MTPA. it was their forecast for shipments till december.