Updated my EPS model for GBG with the following:Iron Ore Price:...

Updated my EPS model for GBG with the following:

Iron Ore Price: $150.25

Exchange Rate: $1.0473

Production: 8mtpa Magnetite, 2mtpa DSO.

Shares on Issue: 1,490,000,000 (assumes Ansteel gets issued shares)

Huge amount of other factors, but these are the key ones.

EPS $0.114

** Note EPS increases to $0.121 if Ansteel gets no shares and no additional capital raised **

(so this is a big DEAL given we are now a penny dread trader, could easily add 4-7 cents on our shareprice on an EPS basis).

Estimated NPAT for JV: $340m, so GBG is entitled to $170m.

I hope the current Iron Ore price holds.