My bet would be that if Ansteel see the KML operation becoming long term financially sustainable, then they would probably make GBG an offer for it's holding in KML at some point, and then Ansteel will dump it's GBG holding, or that could be part of a future offer. My personal view is that they wouldn't go after GBG, despite being the major holder.
Is Karara now profitable ??, page-9
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