With all the doom and gloom around this company for the past year or so...many on this forum have been predicting that GBG will close shop months ago. Yes there's a long way to go, but they must be slowly fixing the plant issues.
In the March quarter Karara did 38 shipments with a total of 2.37m WMT (which was 1.45 Magnetite and 0.92 DSO). According to my calculations, this equates to an annualised rate of 5.8 Mag and 3.68 DSO (total 9.48).
That's not that far off the original specs told us that the plant will produce in Phase 1. The plant was built to produce and ship 8Mwmt of Mag and 2Mwmt DSO.
Yes i know the IO price is rock bottom, but GBG just needs to ride the storm and IO can be up over $100 in months not years.
GBG Price at posting:
2.3¢ Sentiment: Hold Disclosure: Held
