Thanks Superdaddy,May i suggest every GBG shareholder read the Profil on ProMet Engineers pty ltd 50% owned by thiess pty ltd.ProMet pty ltd is a leading designer of Magnatite prosessing plants worldwide they also paint a beautiful picture of themselves just like GBG did before they started the constuction phase of the plant no more FULL PAGE ADDS in the local paper and very little communation with SHAREHOLDERS only to announce a massive amount of capital raisings and the problems they are having with the start up of the plant(LEMON)???
NOW LOOK AT THE BIG PICTURE
ProMet pty ltd VOLANTERALY go INSOLVENT first meeting with creditors April 2013 they would have known things were bad 6 months prior forgive me if i am wrong but this was about the time GBG were experiancing problems with the start up phase of the plant which they have not recovered from as yet???
Now can GBG take any ACTION against THiess PTY LTD BEING A 50%owner seeing as ProMet Engineers PTY LTD have made themselves Insolvent, to re-design and fix the plant to work at nameplate production if not then ANSTEEL would be looking at tossing in another Billion Dollars or more to get this thing working which i believe would wipe out GBG,s equity. HOW IS THE BIG PICTURE LOOKING NOW as i said once before gbg MAY have to be put into CARETAKER MODE??? until the Government allow Ansteel to take the project over,the Govenment would also have to take a good look at what they decide If they refused a takeover, China may take offence to this and deciede to bypass AUSTRALIAN IRON ORR and set up in West Africa where they have complete control of the show after all Ansteel is the second bigest steel producer in CHINA watch what happens over the next 5 years if the govenment did refuse a takover from ANSTEEL,THESE ARE MY THOUGHTS ONLY makes a lot of sence as to what is happening in west africa at the moment.DYORS
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