Agree hungster - GBG is in a completely different situation from other iron ore juniors. Ansteel is constructing massive steel plants specifically to utilise output from GBG tenements. I understand a consortium of Chinese bankers and Ansteel reps is now on site to do the final due diligence before rubber stamping the project.
With Chinese Industry only just coming back following the Olympic slowdown, we can expect a short term decrease in demand - and this also works in China's favour in the lead up to price negotiations.
However, Management from all iron ore companies from BHP and RIO down state the same story: Going forward, there is a growing demand for iron ore.
Hold the faith...
GBG Price at posting:
41.9¢ Sentiment: Buy Disclosure: Held
