The EPA got delayed because GBG has amended the application under the terms of its upsized mega-mill and plans to, no doubt, mine the 112Mt of 43% Fe which recovers a lot better than the rest of its billion odd tonnes of dirt. No doubt they'll be throwing this mountain through the mill first to help pay off the squizillion bucks of infrastructure they'll be installing to tackle the other bits which are more crap. I mean, to be precise, you should expect them to treat the 43% Fe stuff for around AUD$45 per tonne, below the cost of treating the rest of their ore for AUD$69.90.
You see, what's happened with the EPA approvals is that, when you alter the scope and scale of an operation like this, you have to basically go back to the start on the whole EPA process.
So, yeah, its a bit of a bummer but what can you do?
GBG Price at posting:
0.0¢ Sentiment: LT Buy Disclosure: Not Held
