question, page-13

You're losing it Major. Obviously management recognised that cementing the relationship with Ansteel was an imperative in the changed landscape of credit markets right now, hence the current deal....not that great but better than any other alternative. Ansteel's internal sources of iron ore are drying up, hence the attraction of Karara....similar magnetite, large long life project. Why wouldn't they lock in a future source of supply? The question as to the pricing of the product from Karara is pretty much spelt out in the terms of the agreement....ie Ansteel will pay market prices. Can't understand the current negativity. Ansteel do NOT control GBG. Largest shareholder of course but GJ is no mug....he is not the sort of person to bend over for anyone. I'm extremely relaxed. There is so much crap being pushed at present on future pricing that I throw my hands up at times. People seem to forget that games are being played right now...sure, 2009 prices are going to be lower but if you know anything about China at all, you'll know that the urbanisation programme is NOT going to stop.