real cost per ton , page-17

PS I cant be bothered looking back at previous posts here, but please have a look at the one where I showed all the capital raisings over the last 4-5 years. Basically what it showed was that 44 cents or so of 'CASH' has been raised, NOT INCLUDING the additional cash payments by Ansteel to join the JV.

So basically if GBG just raised all that cash and did nothing with it, then shareholders would be better off than today. 25.5 cents vs 44 cents (or so). This also assumes no value would be attributed to anything GBG holds (ie Karara etc).

Argh.

Angry Long Term Shareholder.

I wonder if a writedown is on the cards for KML?

Might take a look at Ansteel's accounts when I have some time.