the word joint venture confuses some people

Just flicking through some posts and it seems that people seem to think that GBG has direct exposure to interest costs, revenues etc.

GBG owns 50% of a company that owns the IO operations.

This company has its own debt and it services its own interest.

If there is a requirement for more capital then the company will go to its two shareholders.

One of the reasons for a languishing share price is this disconnect.

The IO operating company is moving into operation and positive cashflow which will be used to pay down debt.

At some point in the future it will move to pay a dividend to its shareholders and then the market will begin to understand and re-rate GBG.

In the meantime GBG other than undertaking other exploration is really a passive investor in a project run by its partner and fellow shareholder.