Ann: Suspension from Official Quotation, page-46

Good post red dwarf couldn't agree with you more, but why halt the stock for 7 business days while you are doing a review if there isn't a current offer. The other confusion is why not disclose the interest of an offer if that were the case???

The KML entity only has equity value (i.e. value to GBG) if the discount of the present cash flow exceed the current net debt position. If the entity was only valued at its asset value I am not sure that would exceed the current debt position but that is just huge speculation. I would think the value comes from the future call value if you idle the asset given todays market or a plan to rework the asset to higher production levels. The offset to both of these scenarios is the volatility of the iron ore market, currency and debt servicing while you wait. I would love to meet the person putting the model together to see how they get their position on iron ore, fx and production levels into the model. Even with those assumptions I am not sure you get to a VE+ scenario, but I sure hope we do!

As we are in halt and we don't know for certain why the valuation is going on I am going to speculate for fun. The valuation is being done for what Red dwarf said above, impairment and to consider future take over offers. I hope there is one, but my vote is for no current offer.

Mr. I am very curious why would you want to move onto anymore projects with a shell company? Where do you see GBG creating value? I am very curious...