Incidentally should Ansteel - increase their equity in Kara Mining Ltd ... from memory the amount is some 10% .... that extra increment relates to some 200 mill plus of guarantees / payments .
Possibly a naive way to look at it ....but does this mean they are effectively valuing the Karara Project at some 2 billion ( with start up issues etc - the cost has beeen approx 4 billion )
In any event if GBG are left with approx 36% of the deal - thats an effective valuation of some $500 - $600 mill - assuming the operation starts making money .
Which in turn comes back to the earlier toted numbers of 30, 40 50 cents a share ?
cheers
VA
GBG Price at posting:
2.3¢ Sentiment: Buy Disclosure: Held
