Someone quoted 1.4 Bt of magnetite at 34% exqual to a huge...

Someone quoted 1.4 Bt of magnetite at 34% exqual to a huge number of hematitie. Let me tell you the facts, magnetite at 34% has questionable commercial value, it needs to be upgraded. This is done by crushing and magnetic separation. The high costs are crushing and this depends on the grain size of the magnetite particles. GBG have not told us this but lets assume the mining and beneficiatio isn $30 per tonne.

Now how is GBG to get its 8 MT to port. There is no railway or slurry pipeline and the EPA and Aboriginal First Nation will take forever to approve a railway or slurry pipe line.

So it doesnt really matter what GBG has got, there is no possiblity of a dividend for 5 years or more.

Forget the Chnese invetor, in the infinite wisdom the Directores gaave the Cnincese up to 11Mt per year. There is no incentive for the Chinese to increease their equity byond the current level. They have the supply for the next up to 100 years which is what they want

The press releaes put out today really is a bit of an apology. Look at the data.

The value of a stock is what the market values it at. I bought at $1.50 and I'm loosing heaps. Fact of the matter though is that GBg is a spec stock of doubtful commercial value