Hello Maradyne, you haven`t been around long & 90% of your posts...

Hello Maradyne, you haven`t been around long & 90% of your posts have been on GBG & so far you are being proven right so I hope you have some inside knowledge of some sort to keep giving me hope. The following is from Gindalbie web page.

"Although Gindalbie retains its investment in the Karara Project, based on current price forecasts and KML’s very significant gearing levels, the Company does not currently anticipate that the Karara Project will deliver a positive financial return to Gindalbie’s shareholders in the foreseeable future. Gindalbie also retains exposure to the Project via parent company guarantees provided to the Karara Project, primarily during the commissioning phase. In November 2015, Gindalbie’s shareholders voted to no longer guarantee these loans. Whilst Ansteel maintains operations at Karara, there will be no call on these guarantees."

The first half of this message Chris Stevens confirmed to me in an email, huge debt, low iron ore price etc, the second half of this statement I`m hoping someone can help explain it a little better. We the shareholders voted against honouring the loans we had, not sure how that went down with Ansteel & we are continually being told that we hold Karara at a nil value, yet
we have a 48% ownership of Karara, are we contributing to the day to day running costs of Karara? Do we owe Ansteel additional money when things got very tight & do we accept a lower piece of the profit of each shipment as a way of paying them back.
"Whilst Ansteel maintains operations at Karara" so Ansteel are running the show, how do we step back in when the iron ore price, the dollar all align perfectly again. Does Ansteel need Gindalbie as an Australian company to satisfy the FIRB.