Is Karara now profitable ??, page-52

I'll try and shed some light on this . Mind u its all speculation and gut feel.

Ansteel ....via their financial strength have been able to secure debt to fund and keep the Karara project going . Looks like the next " little " rollover of 200 odd mill ...is going to get them another 10% of the show .

GBG really has their hands tied .....and can only really sit things out ......

The Karara plant appears to be performing ok .....and so long as the iron magnetite price stays firm .....then the project may eventially produce the cash flow to retire the debt ....and the "equity " in the project may amount to something.

There is really no info to speculate on other than the GBG published production and sales numbers .

Bottom line is ....... over time ...IF.....

To be continued ......

Gotta go now

Cheers

VA
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