the price of iron ore is reverting to long term norms. It's under 50 USD per tonne. Karara couldn't have dug up ore at a profit even if everything went to plan all those years ago. This is a dog of an iron ore stock and was so before the commodity crashed. Now every iron ore company bar BHP and RIO are dogs. What's the reason to actually hold this stock?
In my opinion GBG will be taken over by Ansteel to consolidate the Karara holding for a few cents, despite being worthless. Second it will dispose of its KML holding for almost nothing and GBG will remain a dog company with 30-50m in the kitty and dwindle that remaining money down whilst 'exploring' and consuming large admin fees.
If you bought this you've basically lost money. Realise the loss, get rid of the emotion and offset these losses against a real company of value where you can make money.
If someone can tell me where the value lies then I am all ears.
GBG Price at posting:
2.5¢ Sentiment: Sell Disclosure: Held
