GBG - Gindalbie Metals
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I think your gut feeling may be right Frank ...... I think BFS may be just around the corner .... maybe even tomorrow with the way GBG surged today on good volume.
GBG up more than 25% over last 3 days trading. On monday it went up 15.5c when the All Ordinaries had a huge upward surge. However, today GBG rose 13c (nearly 12%) with good volume on a day where the All Ordinaries was only up marginally (0.3%).
Am I reading too much into this or are we just about to see a significant announcement?
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I took the opportunity to buy in at 1.11 following the correction period as I had been watching GBG for a while and was reluctant to buy whilst it was peaking.. I think with the current market senitment we could see GBG returning to 1.70+ range pretty quick. There are alot of investment reports whcih are spruking GBG as well especially Eureka who keep commenting 'possible the next FMG' .. how they come to this conclusion I dont know but if the market likes that train of thinking then so do I..
Been a dam good week for the old GBG, lets hope the world markets do well tonight and finish the ASX on a high friday. BFS tommorow ?, dam I hope so.
Good to see lost ground being recovered slowly, last 4 weeks have been real heartbreakers.
Regards
Frank
.Good to see lost ground being recovered slowly, last 4 weeks have been real heartbreakers.
Regards
Frank
Anyone, got a hold of any of these reports. Would be very interesting reading.
i'm glad i jumped back on this stock, panic sold during the correction and had to buy back in at a higher price. fair bit of a recovery, i believe part of it is anticipation of the feasability coming out.
Anyways good luck to all you gbg holders, including myself.
5 separate brokers have covered GBG in the past 18 months and the gindalbie website has links to reports.
I am also aware that wise owl has GBG as abuy in thier current open portfolio.
Good read for all GBG holders, looks like a few dotted lines will be signed next week and our SP will rocket north....stay tunned boys and girls.
China powers WA’s junior iron ore sector
27th August 2007, 9:00 WST
Handing down a record $16.7 billion profit last week, outgoing BHP boss Chip Goodyear was adamant that the recent US market jitters meant little for the mining giant because it was “business as usual” in the key markets of China and India.
Against that backdrop, a handful of less prominent developments during the week suggested that optimism extends all the way to the junior iron ore sector.
The first event was a landmark $750 million funding pledge by a group of Chinese steel mills and construction groups for Yilgarn Infrastructure’s proposed $2 billion plan for a multi-user iron ore railway and deepwater port in WA’s Mid-West.
Unlike many nervous local investors, looking back in fear at the volatility on world equity markets, the deal showed the Chinese are making their investment plans based on the outlook for the years and decades ahead.
The Yilgarn deal was followed on Wednesday when Pilbara magnetite hopeful Australasian Resources said Chinese steel giant Shougang opened a Perth office and dedicated 12 staff to work on its billion-tonne Balmoral South magnetite project at Cape Preston.
Shougang farmed into the project earlier this year, spending $56 million on Australasian shares upfront and offering an interest free loan to develop the $2.5 billion project in return for a half stake and the rights to buy all magnetite produced at the venture.
The office has been opened ahead of the arrival in Perth next Monday of Chinese President Hu Jintao on an official visit to the State that is supplying China with a growing proportion of the building blocks of its economy.
More significantly, two of Shougang’s most senior executives and four senior officials from Beijing’s massive Export-Import Bank also toured the Balmoral South site on Thursday. EXIM Bank is Beijing’s key conduit for funding overseas resources projects that China believes can help it secure the raw materials it will need for the next few decades.
It has already provided a conditional $1.5 billion funding offer to Yilgarn Infrastructure in the Mid-West and is now weighing up funding support for Shougang at Balmoral South.
It is no coincidence the project is an extension of the same massive orebody now being developed by Beijing-backed Citic Pacific, which has the rights to mine six billion tonnes of magnetite at the site under deals struck with Clive Palmer’s Mineralogy last year.
The final event was confirmation from fellow Pilbara magnetite hopeful Cape Lambert Iron on Thursday that Chinese steel tycooon Liguo Ding would be making his first $US57.5 million ($70.1 million) downpayment on the Cape Lambert project by the close of business on Friday. The payment is the first of three owing under Mr Ding’s agreement to buy a direct 70 per cent stake in the project for $US192.5 million.
It’s noteworthy the investment is being made by Mr Ding personally, and not on behalf of his Singapore-listed conglomerate Delong Holdings. That is a pretty big personal statement of confidence in the long term outlook for iron and steel.
The downpayment is now due because Cape Lambert this month fulfilled a key condition of the sales agreement when independent consultants confirmed a minimum indicated resource of 300 million tonnes at the project. The resource lies within an indicated and inferred resource of 793 million tonnes in the so-called Central Target Area, which in turn accounts for only a portion of the project’s total resource of 2.5 billion tonnes.
Furthermore, Cape Lambert is in the midst of a 33,000m drilling program to add more tonnes to the deposit.
WA’s yuan-funded junior iron ore boom should gather even more speed in the next few weeks, when steel giant AnSteel and Gindalbie Metals complete final feasibility studies for the $1.5 billion Karara magnetite venture in the Mid-West.
China powers WA’s junior iron ore sector
27th August 2007, 9:00 WST
Handing down a record $16.7 billion profit last week, outgoing BHP boss Chip Goodyear was adamant that the recent US market jitters meant little for the mining giant because it was “business as usual” in the key markets of China and India.
Against that backdrop, a handful of less prominent developments during the week suggested that optimism extends all the way to the junior iron ore sector.
The first event was a landmark $750 million funding pledge by a group of Chinese steel mills and construction groups for Yilgarn Infrastructure’s proposed $2 billion plan for a multi-user iron ore railway and deepwater port in WA’s Mid-West.
Unlike many nervous local investors, looking back in fear at the volatility on world equity markets, the deal showed the Chinese are making their investment plans based on the outlook for the years and decades ahead.
The Yilgarn deal was followed on Wednesday when Pilbara magnetite hopeful Australasian Resources said Chinese steel giant Shougang opened a Perth office and dedicated 12 staff to work on its billion-tonne Balmoral South magnetite project at Cape Preston.
Shougang farmed into the project earlier this year, spending $56 million on Australasian shares upfront and offering an interest free loan to develop the $2.5 billion project in return for a half stake and the rights to buy all magnetite produced at the venture.
The office has been opened ahead of the arrival in Perth next Monday of Chinese President Hu Jintao on an official visit to the State that is supplying China with a growing proportion of the building blocks of its economy.
More significantly, two of Shougang’s most senior executives and four senior officials from Beijing’s massive Export-Import Bank also toured the Balmoral South site on Thursday. EXIM Bank is Beijing’s key conduit for funding overseas resources projects that China believes can help it secure the raw materials it will need for the next few decades.
It has already provided a conditional $1.5 billion funding offer to Yilgarn Infrastructure in the Mid-West and is now weighing up funding support for Shougang at Balmoral South.
It is no coincidence the project is an extension of the same massive orebody now being developed by Beijing-backed Citic Pacific, which has the rights to mine six billion tonnes of magnetite at the site under deals struck with Clive Palmer’s Mineralogy last year.
The final event was confirmation from fellow Pilbara magnetite hopeful Cape Lambert Iron on Thursday that Chinese steel tycooon Liguo Ding would be making his first $US57.5 million ($70.1 million) downpayment on the Cape Lambert project by the close of business on Friday. The payment is the first of three owing under Mr Ding’s agreement to buy a direct 70 per cent stake in the project for $US192.5 million.
It’s noteworthy the investment is being made by Mr Ding personally, and not on behalf of his Singapore-listed conglomerate Delong Holdings. That is a pretty big personal statement of confidence in the long term outlook for iron and steel.
The downpayment is now due because Cape Lambert this month fulfilled a key condition of the sales agreement when independent consultants confirmed a minimum indicated resource of 300 million tonnes at the project. The resource lies within an indicated and inferred resource of 793 million tonnes in the so-called Central Target Area, which in turn accounts for only a portion of the project’s total resource of 2.5 billion tonnes.
Furthermore, Cape Lambert is in the midst of a 33,000m drilling program to add more tonnes to the deposit.
WA’s yuan-funded junior iron ore boom should gather even more speed in the next few weeks, when steel giant AnSteel and Gindalbie Metals complete final feasibility studies for the $1.5 billion Karara magnetite venture in the Mid-West.
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Sign up for the free trial reports and free access to there website.. I do this every so often with all the newsletters to see what they are saying, you do have to cop a few marketing calls if you do this..
Some good stuff in there Frank.
Investors have been getting on GBG the last few days, preempting the BFS announcement.
Top up if you can now. Better days ahead for you and me.
Only the "septic tanks" can affect this 'junior iron ore' becoming a big boy.
Of course my humble opinion only, D.Y.O.R
hi guys,
anyone have a price target on gbg, recall guys mentioning 2.00 by 2009 as a conservative target from macquarie.
anyone with views on whether this stock to be traded of short term gains, or held over the long term considering there is a 40 year mine life.
was thinking about holding some in the portfolio and having a portion to trade.
was thinking of taking profit at around the 2.00 mark, hope the hype and feasibility gets it there.
anyone have a price target on gbg, recall guys mentioning 2.00 by 2009 as a conservative target from macquarie.
anyone with views on whether this stock to be traded of short term gains, or held over the long term considering there is a 40 year mine life.
was thinking about holding some in the portfolio and having a portion to trade.
was thinking of taking profit at around the 2.00 mark, hope the hype and feasibility gets it there.
If it is only 2.00 by 2009 then i will be suprised.
The final feasibility study is due out in the next couple of weeks, this will give a fair indication of the value of the stock. GBG has a very low stripping cost which will potentially increase profit and will definatley help with the viability of the projects.
The agreement with Ansteel locks in cash flow and capital support for developing the mine. All adds positive weight to the company getting the projects up and running. After getting the projects up and running there is the potential for expansion and continued growth in the share price.There is also the 40 year mine life as you have pointed out as another major positive.
With the strength in the China and Indian markets set to continue for the forseable future demand should continue to be strong keeping up a strong price for iron ore. All looks good for the share price to strengthen.
I'm happy to hold this long term and look forward to being a shareholder through it's development hopefully into a significant company. Good luck to all holders
It'll be $2 by 2009 plus $30 dollars. I use Fortecue's good fortune as a guide for the old GBG, if the Lodestone project results are as good as Karara's 1.43 Billion tons then GBG will be on par with the reserves Fortecue have on tap. All this for a bargain price of a $1.45 a share ATM. If its $2 by 2009 I'll run down the street naked and throw in a few cart wheels.
bigdog
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Marcus Padley article includes Gindalbie Metals at one of his tips for ten years time!
http://www.theage.com.au/articles/2007/06/15/1181414546482.html
2017? Buy now! Here are the tips for 10 years' time
Marcus Padley
June 16, 2007
BUFFETT reckons he wouldn't care if the sharemarket closed for 10 years. OK, done. As of next Friday they are going to close the sharemarket for 10 years. You have a week to get set. What are you going to buy? Here's my guess.
Resources — BHP, Rio, Fortescue, Gindalbie Metals, Woodside — let's go with the flow. In the next 10 years the main driver will be the industrialisation of China and the Chinese will become very active investors, globally.
Chinese money will soon smack into equity markets. They will initially invest in the companies causing them the most trouble — they are fed up with being bent over by Australians, Brazilians and Americans.
BHP and Rio? Gone (if they haven't already gone). At huge premiums that imply a $300 price for Fortescue. But Andrew Forrest will have delivered Fortescue to the Chinese already, for $150. It will be another MIM, sold too cheap.
But Andrew won't care. He'll be Australia's richest man.
Gindalbie Metals becomes the largest resources stock in the Australian market and, with its new-found friends in China, it won't last forever either. Add a splash of Woodside.
We'd like to buy a host of other resources stocks but we only have room for a few. Still, against a 22 per cent sector weighting, I reckon we might plunk 50 per cent of the fund into the sector.
Mining services companies follow. If the resources sector makes money, then so will these.
Let's have a few Worley Parsons and some of those Boart Longyear. I know everyone bagged them on the float but they just went into the ASX 200 and will be climbing, not falling.
Contractors and developers — Leighton Holdings is one of the few companies with the scale to operate in Asia — will flourish. Downer EDI and United Group are others.
Investment banks? Presumably Macquarie Bank and Babcock & Brown will also one day find the commercial confidence to boldly rather than tentatively step into Asia. They can find investors for anything, especially roads, utilities, power and infrastructure projects. The scale of their Asian projects will leave Australia and US filed under "chicken feed".
Banks are the real boom for Australia beyond Chinese industrialisation. After building everything, the next boom will be servicing the Chinese population. First cab off the rank will be 2017? Buy now! Here are the tips for 10 years' banks. The moment the banks move into China, sell them. They will get flogged if they take their ambitions beyond the cosy Australian high-street monopoly they enjoy.
That's why we invest in them. ANZ has already learned its lesson abroad so we pick it as our preferred exposure to the Australian high street. Long may it continue. We really don't want exposure to the Chinese subprime market collapse of 2015.
Wealth management won't resist getting involved in Asia and they are going to find it hard not to succeed. AXA Asia Pacific will set the example. Let's also slot in a few wealth management and sharemarket companies: Perpetual Trustees, AMP, ASX, Computershare.
Property trusts? Westfield Holdings has 44 centres in Australia, 11 in New Zealand, 59 in the US and seven in Britain. It seems to be missing something. Westfield Beijingland and Westfield Shanghail and, perhaps. A dash of those.
Packer? Forgot to mention. My first dollar will go into PBL Gaming. Take a nation of 1.3 billion people who believe in luck, add Packer and stand back. Include a few Cochlear — it might just eradicate deafness — and have a few Brambles as well.
Of course, a few other things will change in 10 years:
■Disappeared: The ability to write, personal tax rates, Japanese in primary schools.
■New: Nuclear power, water futures, Google everything, Mandarin in primary schools.
■Multiplied tenfold: Everything uranium, petrol prices, bicycle manufacture, the super fund industry, the Future Fund, Andrew Forrest's Windsor knot, Perth.
Marcus Padley is a stockbroker and the author of the daily sharemarket newsletter
http://www.theage.com.au/articles/2007/06/15/1181414546482.html
2017? Buy now! Here are the tips for 10 years' time
Marcus Padley
June 16, 2007
BUFFETT reckons he wouldn't care if the sharemarket closed for 10 years. OK, done. As of next Friday they are going to close the sharemarket for 10 years. You have a week to get set. What are you going to buy? Here's my guess.
Resources — BHP, Rio, Fortescue, Gindalbie Metals, Woodside — let's go with the flow. In the next 10 years the main driver will be the industrialisation of China and the Chinese will become very active investors, globally.
Chinese money will soon smack into equity markets. They will initially invest in the companies causing them the most trouble — they are fed up with being bent over by Australians, Brazilians and Americans.
BHP and Rio? Gone (if they haven't already gone). At huge premiums that imply a $300 price for Fortescue. But Andrew Forrest will have delivered Fortescue to the Chinese already, for $150. It will be another MIM, sold too cheap.
But Andrew won't care. He'll be Australia's richest man.
Gindalbie Metals becomes the largest resources stock in the Australian market and, with its new-found friends in China, it won't last forever either. Add a splash of Woodside.
We'd like to buy a host of other resources stocks but we only have room for a few. Still, against a 22 per cent sector weighting, I reckon we might plunk 50 per cent of the fund into the sector.
Mining services companies follow. If the resources sector makes money, then so will these.
Let's have a few Worley Parsons and some of those Boart Longyear. I know everyone bagged them on the float but they just went into the ASX 200 and will be climbing, not falling.
Contractors and developers — Leighton Holdings is one of the few companies with the scale to operate in Asia — will flourish. Downer EDI and United Group are others.
Investment banks? Presumably Macquarie Bank and Babcock & Brown will also one day find the commercial confidence to boldly rather than tentatively step into Asia. They can find investors for anything, especially roads, utilities, power and infrastructure projects. The scale of their Asian projects will leave Australia and US filed under "chicken feed".
Banks are the real boom for Australia beyond Chinese industrialisation. After building everything, the next boom will be servicing the Chinese population. First cab off the rank will be 2017? Buy now! Here are the tips for 10 years' banks. The moment the banks move into China, sell them. They will get flogged if they take their ambitions beyond the cosy Australian high-street monopoly they enjoy.
That's why we invest in them. ANZ has already learned its lesson abroad so we pick it as our preferred exposure to the Australian high street. Long may it continue. We really don't want exposure to the Chinese subprime market collapse of 2015.
Wealth management won't resist getting involved in Asia and they are going to find it hard not to succeed. AXA Asia Pacific will set the example. Let's also slot in a few wealth management and sharemarket companies: Perpetual Trustees, AMP, ASX, Computershare.
Property trusts? Westfield Holdings has 44 centres in Australia, 11 in New Zealand, 59 in the US and seven in Britain. It seems to be missing something. Westfield Beijingland and Westfield Shanghail and, perhaps. A dash of those.
Packer? Forgot to mention. My first dollar will go into PBL Gaming. Take a nation of 1.3 billion people who believe in luck, add Packer and stand back. Include a few Cochlear — it might just eradicate deafness — and have a few Brambles as well.
Of course, a few other things will change in 10 years:
■Disappeared: The ability to write, personal tax rates, Japanese in primary schools.
■New: Nuclear power, water futures, Google everything, Mandarin in primary schools.
■Multiplied tenfold: Everything uranium, petrol prices, bicycle manufacture, the super fund industry, the Future Fund, Andrew Forrest's Windsor knot, Perth.
Marcus Padley is a stockbroker and the author of the daily sharemarket newsletter
Stat on Fortescue Metals share price -
57c on 4th Oct, 2004 up to $41 on 4th June, 2007.
Up 7,200% in less than 3 years.
Can GBG do that?
It's possible.
Will they be over $2 in 2009?
My word.
Stat on GBG share price -
9c on 6th Sept, 2005 up to $1.75 on 23rd July, 2007
Up 2,000% in less than 2 years.
The good news is still to come with the BFS and Lodestone report due within the next few months.
Hold onto your GBG shares, and your hat too, we're in for a ride.
57c on 4th Oct, 2004 up to $41 on 4th June, 2007.
Up 7,200% in less than 3 years.
Can GBG do that?
It's possible.
Will they be over $2 in 2009?
My word.
Stat on GBG share price -
9c on 6th Sept, 2005 up to $1.75 on 23rd July, 2007
Up 2,000% in less than 2 years.
The good news is still to come with the BFS and Lodestone report due within the next few months.
Hold onto your GBG shares, and your hat too, we're in for a ride.
It'll be $2 by 2009 plus $30 dollars. I use Fortecue's good fortune as a guide for the old GBG, if the Lodestone project results are as good as Karara's 1.43 Billion tons then GBG will be on par with the reserves Fortecue have on tap. All this for a bargain price of a $1.45 a share ATM. If its $2 by 2009 I'll run down the street naked and throw in a few cart wheels.
I join in with you Frank if it is only $2 by 2009. This company is really good and not to be miss
Alright guys,
I personally believe it is worth a fair more than 2.00 by 2009,
My short term strategy was basically to sell off half of my holdings in the near term hopefully for about 2.00, and buy back some in the pullback.
Unless however the feasability study, values them way over that mark, then i'll have too buy back in at a higher price, then I would have messed up big time.
Not sure how to value this company that there is 1.4 bill tonnes of iron ore with potentially more. How did you guys get the valuation of 30.00 by 2009, couldn't even comprehend how it could get up that high? But wouldn't be surprised, obviously with consensus believing this stock is undervalued. Then the comparison to the fortescue.
But I was first attracted to this stock based on three factors.
1. iron ore, hot commodity.
2. ansteel 2nd largest steel prod in china
3. and large reserves. 40 mine life.
I don't need to be sold on this one. Was already in.
Just figured if of sold out in the near, term could make some quick money.
But will be holding a smaller holding. Any opinions on my short term strategy, would appreciate others views. If anyone can see flaws in my strategy would appreciate the comments.
Cheers Fella's and ladies
I personally believe it is worth a fair more than 2.00 by 2009,
My short term strategy was basically to sell off half of my holdings in the near term hopefully for about 2.00, and buy back some in the pullback.
Unless however the feasability study, values them way over that mark, then i'll have too buy back in at a higher price, then I would have messed up big time.
Not sure how to value this company that there is 1.4 bill tonnes of iron ore with potentially more. How did you guys get the valuation of 30.00 by 2009, couldn't even comprehend how it could get up that high? But wouldn't be surprised, obviously with consensus believing this stock is undervalued. Then the comparison to the fortescue.
But I was first attracted to this stock based on three factors.
1. iron ore, hot commodity.
2. ansteel 2nd largest steel prod in china
3. and large reserves. 40 mine life.
I don't need to be sold on this one. Was already in.
Just figured if of sold out in the near, term could make some quick money.
But will be holding a smaller holding. Any opinions on my short term strategy, would appreciate others views. If anyone can see flaws in my strategy would appreciate the comments.
Cheers Fella's and ladies
Alright guys,
i personally believe it is worth a fair more than 2.00 by 2009,
my short term strategy was basically to sell off half of my holdings in the near term hopefully for about 2.00, and buy back some in the pullback.
Unless however the feasability study, values them way over that mark, then i'll have too buy back in at a higher price, then i would have messed up big time.
not sure how to value this company that there is 1.4 bill tonnes of iron ore with potentially more. How did you guys get the valuation of 30.00 by 2009, couldn't even comprehend how it could get up that high? But wouldn't be surprised, obviously with consensus believing this stock is undervalued. The the comparison to the fortescue.
But i was first attracted to this stock based on three factors.
1. iron ore , hot commodity.
2. ansteel 2nd largest steel prod in china
3. and large reserves. 40 mine life.
I don't need to be sold on this one. Was already in.
just figured if of sold out in the near, term could make some quick money.
but will be holding a smaller holding. Any opinions on my short term strategy, would appreciate others views. If anyone can see flaws in my strategy would appreciate the comments.
Cheers Fella's and ladies
So much to take into account with this stock,
1)at present they have only drilled 20 percent of there targets,
2) low stripping and open cut mine equates to the lowest possible mining costs,
3) drill results coming out which could if proven to have the same characteristics could almost double their resource,
4) Already have there offtake partner in ansteel locked in
5) demand for iron ore to remain strong through demand from india and china
Have my position in this stock already locked in, but if the bfs,s for the two projects are all i am thinking they will be, will load up again.
