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2.6¢ gindalbie metals ltd

I agree with Samson and Valueadd. It's hard to see KML ever...

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reddwarf

154 Posts.

10

18/02/19

23:40

Post #: 37477866
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Originally posted by valueadd: ↑

Yes there was a reason Ansteel did a 50 :50 deal with GBG .

Since then the accounting and operational
Issues have taken over .

GBG are the minority shareholder in Karrara now . There is no minority shareholder oppression going on .

In reality Ansteel have been very kind to GBG.

The management of GBG arent going to rock the boat . There is lots of money in the kitty to keep them in a comfortable wage for the next decade at least .

I suspect as each bit of long term debt gets re financed or re structured Ansteel will claw back more equity in Kararra .

GBG may ride the usual pricing fluctuations .....but the pot of gold at the end of the rainbow will never be there .

Just my opinion of course

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I agree with Samson and Valueadd. It's hard to see KML ever making free cashflow when Ansteel is the major shareholder of the producer and also the customer for the product. It doesn't take much imagination to work out why. The project for GBG shareholders was a disaster, probably not so much for Ansteel.

GBG Price at posting: 1.4¢ Sentiment: None Disclosure: Held
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