GBG - Gindalbie Metals

[wildmanchris]

Looks like it will get the break it needs from the line up of sellers today - rough day on the dow!!

 

[juw177]

This stock seems to be getting hit very hard compared to other stocks. Any reason why besides just panic?

 

[uptrend]

FMG and MMX is down about the same, i think people just want to get out today, don't want to wait to see what happens tonight on the DOW.

 

[dj_420]

This stock seems to be getting hit very hard compared to other stocks. Any reason why besides just panic?

this stock has run from 55 cents to 1.60 odd in two months!

i would have expected a retracement had the DOW not been hit. JP Morgan have been buying up the whole way so i wouldnt be fussed. ill draw chart tonight see where support levels are.

if this is a correction expect a retrace to 1.30 odd maybe lower.

stocks cannot go up and up every single day

if you like the company see it as buying opportunity when bloodshed has stopped

 

[YNKWRTNC]

I'm with DJ, may still have a bit to come down.
If the US and other globals have a drop tonight, we'll follow suit.
Good time to buy.
The companies' resources haven't disappeared overnight, just the U.S. down and a dip in the graph.

The BFS and a positive report from Lodestone will see some gains having us smiling again.


You Never Know What's Round The Next Corner

 

[MegaV]

Hey
The stock certainly did take a beating today. Great time to buy in more!
just curious though, how do you find out if JP morgan has been buying this stock up?

 

[dj_420]

Hey
The stock certainly did take a beating today. Great time to buy in more!
just curious though, how do you find out if JP morgan has been buying this stock up?

substantial shareholder notice put out the other day

JP Morgan 5.5% i think. they have been buying on market all the way up to 1.60, when they bought 1 and half million

i wouldnt be surprised if institutions are soaking up all these panicking sellers

i will look to get more when price is right, if its a correction we will have more downside, well the whole market will have a lot of downside!

 

[MegaV]

cheers dj 420
I love a good fall...midyear sale time on ASX! Time to go stock shopping!!!

I hope the downturn isnt long lasting though. Heard its due to the sharp fall in DOW and wallstreet due to bad housing market and poor corporate buy out financing. Hopefully the market will be up and running by mid next week.

 

[Pat]

GBG was hit hard today for a couple of reasons...
1. As DJ has said its done 200% in 2 months, GBG needs to let cool down
and
2. The dow.

Yes, further downside for GBG, but not too much, well depends what happens in the US, then downside for all markets. I see support at $1.40, then $1.20 and then $1, don't think it will break $1.40 though. Lots of interest in GBG, Iron is still up. She'll be right.

 

[EZZA]

Didn't expect gbg to pull back this much, but yeah, reckon ít'll be alright as well.

If it consolidates at current levels, hopefully market sentiment rises and with feasbility study in aug. :shoot::shoot:

 

[Frankhalo]

Looks like the Pacific region markets finished well today, finally in the green zone. Lets hope our US friends take this lead later tonight and GBG can regain some lost ground Tuesday.

 

[Pat]

GBG definitely came down quickly, $1.40 level is a nice number to consolidate to... It's come back to the middle of the Bollinger band from it's hard run, could hit the bottom line at $1.10 If the present climate continues. Imagine the DOW rose 300 points in a day.
GBG also took a breather around the $1.40 mark, some healthy consolidation here, just quick due to market sentiment. Although the latest broker report on the GBG site values GBG at $1.15. This is dated June 5th 2007, so i guess it's in need of an update in that respect
http://www.gindalbie.com.au/Investor+Relations/Reports/Broker+Reports/default.aspx

 

[bigdog]

TWO ASX announcement today

31/07/2007 Quarterly Cashflow Report
http://www.asx.com.au/asx/statistics/showAnnouncementPDF.do?idsID=00743608

Cash at end of June 2007 quarter $16,099,000

31/07/2007 Quarterly Activities Report
http://www.asx.com.au/asx/statistics/showAnnouncementPDF.do?idsID=00743607

 

[s3081402]

Looking for a good day for GBG. Been hit hard over the last few days. $1.52 at the moment. This company still have good cash in hand so that good.

 

[bigdog]

31/07/2007 Quarterly Activities Report
http://www.asx.com.au/asx/statistics...idsID=00743607

HIGHLIGHTS FOR THE JUNE 2007 QUARTER
KARARA IRON ORE PROJECT (ANSTEEL EARNING A 50% INTEREST)
Mungada Hematite Project
• Resource estimation for the hematite project completed resulting in a 62% increase in Resources to 22.8 million tonnes at 61.9% Fe. Resource classification also upgraded from Inferred to Indicated and Inferred with the Indicated Resource totalling 15.3 million tonnes at 62.2% Fe.
• Metallurgical test work confirms a Lump/Fines ratio of 60/40 can be achieved from the project with all other metallurgical test work results within the normal range.
• Second Draft of Public Environmental Review (PER) developed in preparation for submission to the EPA in late July.
• 7,120 metres of RC and diamond drilling completed with significant results from all prospects received.

Better intersections included:
21m @ 64.8% Fe and 0.06%P in Hole MGC 302
21m @ 64.1% Fe and 0.01% P in Hole MGC 308
25m @ 63.4% Fe and 0.07% P in Hole MGC 347

Karara Magnetite Project
• Resource upgrade completed totalling 1.43 billion tonnes at 36.3% Fe including 655 million tonnes of Indicated Resource which will form the basis of Mine Design for the first 32 years of the Project.
• Extensive Davis Tube Recovery test work demonstrates that a concentrate grading 68.8% Fe, 4.2% SiO, 0.08% Al2O3, and 0.01% P at 40.7% weight recovery can be produced from Karara.
• JV partner Ansteel completed pilot plant trials at Anshan mineral dressing laboratory on a representative ore sample from Karara. Results show very high correlation with those achieved independently in Australia and provide confirmation of the flow sheet design.
• Ansteel Mining Design Institute (AMDI) engaged to investigate modular construction methodology as a means to improve the likely site construction schedule in addition to their role as detailed concentrator designer.

REGIONAL IRON ORE EXPLORATION (GINDALBIE 100%)
• Drilling commenced at the Lodestone Prospect, 50km south east of Karara, targeting both magnetite and hematite mineralization. Phase 1 drilling scheduled for completion in the September Quarter 2007. Significant areas of hematite–goethite enrichment were encountered in rock chips over Lodestone.

CORPORATE
• Cash reserves at 30 June 2007 of A$16 million with $5 million received subsequent to quarter end for the sale of the Minjar Gold Assets.
• Share Subscription Agreement signed with Ansteel whereby Ansteel will acquire, subject to Chinese regulatory approvals, a strategic stake of 12.8% in Gindalbie through the placement of 65 million shares at 60 cents each, raising $39 million. Funds due to be received by 4 September 2007.

 

[gfresh]

I sold out before the dip.. not sure on an entry point. While today was up.. the intraday movement has not been that strong. All depends on the US influence at the moment.

I really don't want to wait too much longer though, miss out on the JORC statement which is due "sometime" this month. hmm

 

[MegaV]

Took a small fall today, but the medium- long term prognosis for this stock is still great.

As I understand, the bank feasibility study should be coming out in late august or early september. This should see the price of the share pick up a bit.

 

[Damuzzdu]

Took a small fall today, but the medium- long term prognosis for this stock is still great.

As I understand, the bank feasibility study should be coming out in late august or early september. This should see the price of the share pick up a bit.

MegaV,

.."small fall today"...hahahah I love your description of small at -10.5%...I'd hate to see your definition of big....ouch!!!!

Cheers

 

[MegaV]

MegaV,

.."small fall today"...hahahah I love your description of small at -10.5%...I'd hate to see your definition of big....ouch!!!!

Cheers

hahahah.... when i checked the price at 12.30, it was 1.53.
After that, it went down like a thai hooker.

Oh well...better days will come next month

 

[Frankhalo]

Next month !...This is the month GBG was to shine, it will still I imagine but dam thats a big pot hole its stepped into and there not alone. Lets hope the Yanks pull up well in the coming days.