Actually l really dont know what might be allowed or not under the FIRB rules .
Nor do any of us know exactly how viable or profitable Karara really is .
Its all speculation at this stage really ...
But the key thing is that the plant is producing some 8 mill tons of magnetite a year .....and so long as the IO price keeps trending up ....then the cash flow gets better and better .
Is Ansteel getting a sweetheart pricing deal ???? Who knows
Maybe some one might b able to comment on the specs and pricing of the magnetite being produced compared to various grades etc that are bought on the open market .
I imagine there would be a priority to repay debt ....before distributions to shareholders .
Currently only the FYE 2016 financials are available on the ASIC website . 2017 should be up there arlund April / May l expect .
My guess is that we have at least a year ahead of us to get a better feeling of whats going on .
Putting a value on Karara will be a guessing game until then .
I suspect the Chinese .....wont be volunteering too much in the way of optimistic forward looking statements ....but play it pretty conservatively .
I doubt they will be trying to shaft GBG .
Cheers
VA
GBG Price at posting:
2.6¢ Sentiment: Buy Disclosure: Held
