Ann: Scheme of Arrangement and Demerger, page-50

Well, to be honest I am Chinese. My holding would almost put me there in the top 20. I have a friend’s friend who works at Ansteel and talked about this “huge undervalued mine” a couple years ago. I looked into GBG and decided to accumulate a long term position.

I was planning to hold it for 10 to 15 years until iron ore recovers or Karara has paid off a good portion of its debt. Now Ansteel wants to steal it from every other shareholder.