GBG - Gindalbie Metals

[SenTineL]

2 DSO shipments this week with another 2 coming later this week.
Production to ramp up in a few weeks.
Price up 9.23% today.
Not much analysis recently on this stock anywhere - anyone have any views?
I can see some potential here from the announcements, reserves and production starting to happen but I haven't had an in-depth look

 

[Russtafaerian]

I have taken a beating with this stock - bought in at .87 and is now hanging around the .30 mark for months.... However, all the ore miners have suffered over the P12M and GBG is no exception to the rule - the company still looks sound.

I just checked the housing prices in Shanghai and they just keep going up- highest in 5 years which must indicate demand and construction growth is still strong in China.

I guess it's not a time to cut losses but to wait and see what happens - need some good news to get this stock rolling again...

 

[notting]

Why these utter halfwitts do capital raisings when the prices are probably at lowest levels possible and the short term cycle is likely bottomed along with it, is just beyond me.
Clearly there are no qualifications for someone to run a mining company and be on it's board.
They have just cemented all their share holders in hell.
The capital raising should be rejected by share holders.
I feel for anyone in this stock. Sorry!

View attachment 49858

 

[Out Too Soon]

Why these utter halfwitts do capital raisings when the prices are probably at lowest levels possible and the short term cycle is likely bottomed along with it, is just beyond me.
Clearly there are no qualifications for someone to run a mining company and be on it's board.
They have just cemented all their share holders in hell.
The capital raising should be rejected by share holders.
I feel for anyone in this stock. Sorry!

View attachment 49858

I haven't held GBG for years but your sentiments are so spot on Notting. I unfortunately hold many other similar stocks to this where the incompetent board keeps throwing out a shrinking lifeline just to keep their cushy salaries going for just a little bit longer. All at the expense of the poor shareholders while everyone knows it's just another nail in the coffin :frown: Maybe you'd like to swap some GBG for CVN or UNX ?

 

[barney]

Why these utter halfwitts do capital raisings when the prices are probably at lowest levels possible and the short term cycle is likely bottomed along with it, is just beyond me.

View attachment 49858

+1 from me

I haven't held GBG for years but your sentiments are so spot on Notting. I unfortunately hold many other similar stocks to this where the incompetent board keeps throwing out a shrinking lifeline just to keep their cushy salaries going for just a little bit longer.

+1 (X2)

Some of these so called "managers" would not hold a job at the local MacDonalds!! ....... Quality management are like good surgeons .... expensive, and worth every cent!

 

[notting]

Maybe you'd like to swap some GBG for CVN or UNX :

I don't actually hold any, I just whatch it along with the others to keep tabs on sentiment.
It's a canary like RED for Gold.
It's a joke.

It's a pathetic joke and I feel for those that do.

 

[notting]

Ansteel, Gindalbie's major shareholder wishes to maintain its approximate 36% interest in Gindalbie. Therefore, in addition to the Institutional Placement, Gindalbie proposes to conduct an additional conditional placement of
approximately A$22 million to Ansteel at the Institutional Placement Price, to enable Ansteel to regain its
approximate 36% equity interest it held in Gindalbie prior to settlement of the Institutional Placement ("Ansteel Placement") (
see ASX Announcement - 30 November, 2012). The Ansteel Placement is conditional on Gindalbie
shareholder approval at an extraordinary general meeting, Gindalbie obtaining a waiver of Listing Rule 10.13.3 and
other regulatory conditions precedent including Chinese and Australian regulatory approvals applicable to Ansteel

Share holders should be up in arms about this.
Tell Ansteel to make a bid for the company.
Stop using Ausi Share holders to fund China's ore supply by doing capital raisings at the worst possible times for Ausi share holders.
No honest management would do a raising at this point!!
Vote against this sabotage!!!

 

[notting]

The structure of the capital raising a fully underwritten share placement to institutional investors *
provided the Company with the greatest degree of certainty in relation to the amount of capital to be raised. The Board has been giving consideration to a Share Purchase Plan to enable retail shareholders to buy shares at the same price as those offered in the Institutional Placement. Unfortunately, given the shares recently have traded below the share placement issue price an SPP would be unlikely to be successful.

Outright theft.

Now Ansteel have made themselves the only recipient of equity in the so called equity raising.
Which they have deliberatly conducted at the worst possible time for share holders.

Normally companies offer the retail share holders the shares at a discount to the institutions if the share price falls below the institutional placement.

Not the Chinese - Ansteel

They have just stopped the majority of share holders being able to get anything like their fair share. Using the fact that shares have fallen below the institutional placement price as an excuse.
Retailers cannot get their fair share on the market because the huge volume required on market would of course take the price way over the offer price.
The Chinese Ansteel are fully aware of this.

This should be stopped by the Australian authorities.

Australians are idiots if they don't stop this.

 

[Surly]

Notting,

I am a long suffering holder of this stock.

If I wanted to increase my equity I could do it right now at 24 cents.

Why would I, or any other retail investor, accept an offer at 25.5 cents just to maintain a percentage?

If, as you say retail investors wanted to participate, wouldn't the share price already be hovering around 25.5 cents?

cheers,
Surly

 

[notting]

As stated:

Normally companies offer the retail share holders the shares at a discount to the institutions if the share price falls below the institutional placement.

If you still don't understand the way companies who are genuinly working for their share operate then have a look at WAN which became SWM had a hell of time due to being old media empire. About 18 months ago you will see how when they raised capital and the price fell below the completed institutional transaction they offered their non institutional share holders who are the Majority owners the same deal at a discount to the market price which was well below the institutional placement price.
This is normal practice. It is also the only fair way manage a sincere raising.

Companies will often discount.

I repeat the timing of this deal is outrageous.

Look at what the Chinese market has done whilst these Ausi idiots and cheating Chinese on the board stopped GBG from trading at it's absolute bottom. Then handed a massive amount of shares to the Chinese.
FMG AGO GRR and related service companies like ASL, NWH, have risen about 25% during this process.
The Communists manipulate their own share market, and try to manipulate, and often succeed in manipulating sentiment in global markets including the recent strike on buyng Iron Ore, Coal and selling rare earths, dumping solar panels into US markets, manipulating their currency it goes on and on.
They know when their market is going to run because the corrupt leadership have huge supplies of the countries wealth and are the ones who go in a buy their own market just before market moving stratigic changes, stimulus announcements and so on as I have illistrated above with the pictures of the Chinese market charts.
The Chinese dictatorship know exactly what they are doing and none of their larger companies like Ansteel and Hanlon are genuinly independent though they constantly try to appear to be, just like the Chinese courts, so they know when best to sabotage etc.
This is so obvious it's rediculous that our authorities are not stepping in and when our stupid authorities do they convict a Hanlon executive our idiot authorities then let him fly out of the fricken country, with the promise that he will return.

Does he return?

Of course not!

Our authorities also say nothing when it is clear that Chinese media are manipulating entire comunities in places like Malaysia to interfere with companies like Lynus, by telling blatant lies in the media about the dangers and laws surrounding the production of rare earths and pay people to protest in the streets.
This all occurs after the processing plant has been in construction for years with no protests, then a Chinese bid is blocked by the Ausi Gov, one good move, but then all the lying and Chinese language media of Malaysia starts.

How dumb are we?

 

[notting]

Gindalbie Metals Limited “
KML US$300M Loan Facility Secured KML has executed a binding Facility Agreement
with China Merchants Bank (CMB) for a new US$300 million Fixed Term Loan Facility to meet
the previously outlined funding short fall for the Karara Project
The first drawdown of the Facility was made on 1
The Facility has been arranged by Ansteel, which has demonstrated its continued strong support of
the Karara Project. The Facility Agreement sets out key terms of the Facility, which include a competitive commercial interest rate and other standard conditions for a facility of this nature.
) including capital expenditure to address plant bottlenecks and resolve outstanding technical issues. In addition, KML has confirmed that it has obtained a waiver from its existing Chinese Banking Syndicate for breach of a financial debt service cover ratio under the terms of its Senior Debt Facility for the December 2013,

It's all one big happy family, well, apart form the Ausi share holders of course, who are now at about 5c.

 

[trainspotter]

8.16% CHANGE and 17 & 1/2 million shares later - How does the Coles jingle go ?? Down, down prices are down.

 

[System]

On July 24th, 2019, Gindalbie Metals Limited (GBG) was removed from the ASX's Official List in accordance with Listing Rule 17.11, following implementation of the scheme of arrangement
between GBG and its shareholders in connection with the acquisition of all the issued capital in GBG by Angang Group Hong Kong (Holdings) Limited.