Is Karara now profitable ??, page-40

Yes there is a lot of detail missing , which leads to unanswered questions relating to Karara.

It is the main investment GBG have and surely they owe it to shareholders to disclose some of the operational detail . They would be privy to all the numbers .

I dont have a problem with them putting a zero value on the investment in their books - however the numbers being produced are now quite robust .

There is good reason to to think there will be a re valuation at some stage , particularly if the Magnetite prices stay firm . Perhaps they are just gunna wait for an operational track record of of positive numbers over the next 12 months .

In any event my gut feeling makes me think that their investment " value today" is probably worth between 5 & 10 cents a share . As discussed by a few of us ...at higher FE values ...that could easily be valued up to 30 cents plus a share . You just simply couldn't build an 8 million ton p/a plant these days for under a billion dollars ...possibly two .


Time will tell

cheers

VA