Debt and Equity is different again for tax purposes :)
Look, I agree, I wouldn't invest in this either for the infrastructure value. It would be a fire sale to Ansteel if this was the case.
I am here because I believe the margins will be enough to cover the debt and overall be a profitable operation.
If iron ore crashes to $80-$100 with the current exchange rate then GBG is $%^&ed. Simple really.
