It's not just the current iron ore price that leaves a sour note...

It's not just the current iron ore price that leaves a sour note in the mouths of some former GBG investors, it was the planning and the execution of the KML project. The phase 1 final delivery was so delayed and full of cost over runs, it left KML lumbered with a debt many multiples represented to investors at the time ground was first broken on the project.

Therefore, it's not difficult to understand why some former GBG investors have little appetite to participate in CODA.