KML are making maybe $US10 per tonne on the cost of production,...

KML are making maybe $US10 per tonne on the cost of production, but that excludes shipping costs, finance costs, depreciation etc.

They are probably losing $US10++ per tonne.

I was surprised that GBG in their annual account have said they are still going to focus on iron ore.

China is slowing down its production of steel and therefore iron oer will be in less demand.

Roy Hill is about to ramp up, so more iron ore on the market.

It is madness to try to get into more iron ore.

With $38m in the bank they could finance a gold mine.

There is talk of gold going to$US1700 per oz (or $AUD2200) with mining costs of $1000 an oz the margin potentially will be $1,200 per oz.

There is a lot of gold in Australia and we know how to mine it.

PLEASE GBG Board don't go down the iron ore road again. You already have one disaster!