The Future, page-18

"We do regularly review the holding value of our investment in Karara and the asset remains at a nil value based on our models and scenario analysis. The reality is that Karara is carrying very high levels of debt and that it would take a very prolonged increase in the iron ore price in excess of current forecasts for that situation to change."

Gindalbie’s primary focus and potential for future shareholder value growth lies in our business development plans and future projects. Gindalbie is in a very strong cash position and has significantly reduced our administration costs which leaves us in a relatively rare position in the market. As we mention in our annual report, our intention is to capitalise on this platform and to build growth for our shareholders. We do hope to be able to make an announcement at the appropriate time."

The nil value the company places on Karara is exactly what the market is doing which is exactly why GBG is seeing very little share price appreciation unlike other Iron Ore stocks

This is why I felt the best thing for the company moving forward would be to seek a sale of its stake Karara to even further bolster its already large cash chest but not sure who apart from our JV partner would be a willing suitor


just hope whatever they end up acquiring is worth the wait for you long termers