Reminder that Ansteel has an option to purchase $230 million...

Reminder that Ansteel has an option to purchase $230 million worth of KML shares as repayment from GBG.

Last time they did this they paid book value for KML shares of $4.31

this independent valuation will set a new price for KML shares to be used to excersise the $230 million option.

For holders the valuation needs to be has high as possible else there will nothing left for GBG in KML based on the old valuation GBG would have been left with 38% of KML. What percentage will be left under the new valuation?

Reference: Karara Ownership Update 19/3/2014