Well done. They deserve a round of applause for delivering $250m USD in funding in this environment. The new CEO kept his word this time. Hopefully the market also regains some trust.
*Clap Clap*
The issue is the market is disinterested in iron ore stocks. Iron ore fell to around $110.20 USD over the weekend. This wouldn't be so bad if the AUD was falling in parity. However its not. Hopefully the AUD falls to 0.90 if these subdued prices continue for the longer term. A fall in the AUD should see a re rating.
Regardless I am happy with todays announcement, and couldn't be happier knowing this should be the end of the dilutive days that significantly contributed to the destruction of our wealth in GBG.
Well done Tim, GJ and management and a big THANKYOU.
well done gbg management
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