Fergus, the important part of that story that should be focused on is not the "Pilbara" but the rest of the sentence-
" despite failing to secure debt financing and an offtake deal with its Chinese partner."
"AT THIS POINT OF TIME", that part of the story is actually quite true... even though we all expect it to conclude favourably, but that ain't guaranteed by any means.
Nevertheless, negotiations are obviously not just at a formality stage as GBG is making out and there are obvious problems in the negotiations of both issues that have not been able to be resolved within and beyond previous timelines.
I was hoping to see this all concluded this CY before increasing my holding again but the way it is progressing I am glad I stuck to my view of lowering my overall risk in stocks I am holding.
Make no doubt, GBG's future is in Ansteel's hands and they can delay this as long as they need to for whatever purposes they have in mind, and that's exactly the way it is going.
My guess is that finance won't be forthcoming until the offtake agreement is finalised!!!
GBG Price at posting:
91.5¢ Sentiment: None Disclosure: Held
