Ann: Full Year Statutory Accounts, page-5

If The Mole is correct, and next April another USD$300m of term loans rolls over, then that would further reduce GBG's contingent liablity by another $179.4m.

47.84% x (400m / 0.8) = $170.4m (assuming AUDUSD remains at 0.8)

So theoretically, if the loan rolls over as expected and GBG provides no further guarantees, in April 2018 GBG's total term loan contingent liablity will drop to AUD$63.4m.

Add back $20m for the rail haulage and tailings management facilities.

Theoretical total contingent liablity for GBG at April 2018 should be only AUD$83.4m.

GBG's got AUD$37.35m in cash reserves (including term deposit), a 47.84% stake in a multi-billion dollar iron ore mine that is producing and selling all it's production, as well as the new Mt Gunson Copper-Cobalt project.

Hahaha... you've got to be out of your mind to sell it for AUD$24m! (market cap at 1.6c per share)