Hi Jules,I'm no expert on GBGs funding arrangements,but I think...

Hi Jules,I'm no expert on GBGs funding arrangements,but I think M.Fliss was probably alluding to the fact that up until the last equity installment by Ansteel,now by share placement,GBGs share of equity in the Karara mining entity was by way of debt,I think orginized by Ansteel.How much that is I'm not sure,you may know more.The second comment refers to the fact that as a 60/40 JV,the cost of achieving tonnages of ore for initial start-up would be 40% less expensive for GBG and always will be no matter what option is taken,whether ROY contribute to the cost of mining Warriedar,or they take a reduced price per ton in return for GBG developing it,or GBG buy outright the remaining 40%.They could also do a mirror image of what GBG/Ansteel are doing now,with GBG paying their share and providing finance for ROY at the same time.Feel free to pick holes.