I saw this recent article mentioning a cut in Chinese lending...

I saw this recent article mentioning a cut in Chinese lending rates. Its conjecture I know, but it might be a factor in why GBG have so far not advised an update regarding how they expect to handle the forex blowout. Combined with a cheaper Aussie $ it'd be great to hear some good news soon.

I understand GBG has a discounted interest rate... hopefully the debt finance will be even cheaper that the headline rates mentioned beneath? Regardless, I'd expect a positive share-price bounce as soon as GBG announce the debt finance is in place.

After that, bring on production! The long suffering long-term shareholders deserve it!

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CHINA last night cut interest rates for the first time since 2008, stepping up efforts to combat the economic slowdown in Europe.

The one-year deposit rate would drop to 3.25 per cent from 3.5 per cent, effective today, the People's Bank of China said on its website. The one-year lending rate would fall to 6.31 per cent from 6.56 per cent.

Banks could offer a 20 per cent discount to the benchmark lending rate, the bank said, widening from a previous 10 per cent.

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