Deep drilling at Karara has confirmed the continuity of the deposit to more than 600m from surface, illustrating for the first time the significant potential to increase resources.
During the quarter KML submitted an Application with the China Development Bank (CDB) seeking senior debt finance of A$1.4 billion for the Karara Project. Ansteel has a strong relationship with CDB and good progress has been made. Substantial progress is ongoing and KML expects to have committed finance in place by September 2008
GBG Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held