steel prices continue to soar, page-20

GBG pricing falling ..... which is to be expected

Meanwhile tonnages of ore processed seem to be increasing at Karara

Will be very interesting to see if they can crank the output of magnetite up this year

The original plant concept was for a capacity of 30 mill TPA - not sure if the current plant installation and configuration is capped ...at these levels or not .

Meanwhile reported annual losses have gone from 1 bill in 2015 to 460 mill in 2016 ...and likely trending down with the 2017 result ( these figures include non cash amortization and depreciation )

Very hard to imagine that Ansteel aren't going to keep this ship afloat until she builds up a decent head of steam

Then I reckon the fun will begin ........ Ansteel take a swipe at mopping up more GBG ??? and at what price ? GBG adding value to the company with forward projections on the potential value of the Mt Gunson deal etc etc

Incidentally should Ansteel - increase their equity in GBG ... form memory the amount is some 10% .... that extra increment relates to some 200 mill plus of guarantees / payments .
Possibly a naive way to look at it

Either way longer term & significant upside seems quite likely

cheers

VA