GBG - Gindalbie Metals
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ta2693, i agree that for short and medium term holder the SP is looking dangerous.
sdl has support and resistance around 0.7 and it could drag gbg with it to a price of 1.4 +
i suspect many stops will kick in for gbg holders if it goes below 1.475 but given sdl support @ 0.7 they might get stung.
sdl has support and resistance around 0.7 and it could drag gbg with it to a price of 1.4 +
i suspect many stops will kick in for gbg holders if it goes below 1.475 but given sdl support @ 0.7 they might get stung.
Baz,
Here's the conspiracy theory -
Georgie is holding off all positive announcements for both GBG and SDL.
The market loses a little faith, the share price drops over a few weeks, he then buys in for million or so shares at $1.50 or below (or SDL @ 70C).
Out come the ann's, SP goes to $1.80 and beyond, Georgie is chuckling in his large leather chair and the plebs are none the wiser.
You Never Know What's Round The Next Corner
Here's the conspiracy theory -
Georgie is holding off all positive announcements for both GBG and SDL.
The market loses a little faith, the share price drops over a few weeks, he then buys in for million or so shares at $1.50 or below (or SDL @ 70C).
Out come the ann's, SP goes to $1.80 and beyond, Georgie is chuckling in his large leather chair and the plebs are none the wiser.
You Never Know What's Round The Next Corner
Im not concerned by the share price drop as I have been in for a while now and am still up on my holdings, am actually thinking about loading up on some more sdl for long term gbg exposure as their is a small arbitrage opportunity there at the moment. Am just hoping for an early christmas present and getting impatient waiting for the drill results.
Out Too Soon
My real name is King Julian ;)
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Someone in the SDL thread posted the following link on the SDL website. It is the best study i have seen on it and it is post-merger. For those of you who are skeptical of the potential of the SP to go up i assume you are talking short term?
http://www.sundanceresources.com.au/...26_Sept_07.pdf.
just short term, will be huge eventually- all a matter of timing or patience
PS: I have no patience it would seem.
michael_selway
Coal & Phosphate, thats it!
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just short term, will be huge eventually- all a matter of timing or patience
PS: I have no patience it would seem.
Maybe a bit expensive atm
Earnings and Dividends Forecast (cents per share)
2007 2008 2009 2010
EPS -0.7 -0.5 8.5 9.4
DPS 0.0 0.0 0.0 0.0
thx
MS
just bought another batch at 1.43 treated the correction as a buying opportunity.
believe this is an overreaction with 20th anniverisary of 87 crash, and sub prime issues that have been around for months. don't think the fundamentals have really changed.
believe this is an overreaction with 20th anniverisary of 87 crash, and sub prime issues that have been around for months. don't think the fundamentals have really changed.
just bought another batch at 1.43 treated the correction as a buying opportunity.
believe this is an overreaction with 20th anniverisary of 87 crash, and sub prime issues that have been around for months. don't think the fundamentals have really changed.
i agree re the fundamentals - the US is going into a recession, does not buy much of our iron ore anyway, and CVRD has that market anyway
Let's hope it's the lowest of the low for GBG's SP.
Yesterday's drop just a reaction to the U.S but regardless, iron ore stocks have had a huge 2 months except Gindalbie. MMX, MIS, MGX, AGO, GRR, BCI, AGO, all going north very fast.
Only 1 iron ore stock (of similar ilk to GBG) is remaining under $2. That's BCI. They're $1.85, still 40c higher. AGO and MGX were the same SP as GBG
just 2 months ago, now they are $2.54 and $2.62 respectively, more than a dollar higher.
Such is life I guess but very stiff to be on a great potential stock that cops this merger hiccup amid a boom period.
Production being so far away doesn't help but SP not moving reeks of the merger worries for investors.
Yesterday's drop just a reaction to the U.S but regardless, iron ore stocks have had a huge 2 months except Gindalbie. MMX, MIS, MGX, AGO, GRR, BCI, AGO, all going north very fast.
Only 1 iron ore stock (of similar ilk to GBG) is remaining under $2. That's BCI. They're $1.85, still 40c higher. AGO and MGX were the same SP as GBG
just 2 months ago, now they are $2.54 and $2.62 respectively, more than a dollar higher.
Such is life I guess but very stiff to be on a great potential stock that cops this merger hiccup amid a boom period.
Production being so far away doesn't help but SP not moving reeks of the merger worries for investors.
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GBG and SDL going into trading halt. Does anyone know what is going on this time? Let's hope it's good news.....
bigdog
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GBG 10:35 AM Trading Halt
http://www.asx.com.au/asx/statistics/showAnnouncementPDF.do?idsID=00773326
imaginator:- the news is reported on page 2
Gindalbie Metals Ltd (ASX Code: GBG) requests a Trading Halt on its securities pending the release of an announcement regarding the proposed merger with Sundance Resources Limited.
The Company is not aware of any reason why the Trading Halt should not be
granted.
http://www.asx.com.au/asx/statistics/showAnnouncementPDF.do?idsID=00773326
imaginator:- the news is reported on page 2
Gindalbie Metals Ltd (ASX Code: GBG) requests a Trading Halt on its securities pending the release of an announcement regarding the proposed merger with Sundance Resources Limited.
The Company is not aware of any reason why the Trading Halt should not be
granted.
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Hi All,
What news could this be in regard to the proposed merger with Sundance Resources? Can't say i was expecting an announcement in regard to the merger at this point in time ..... anyone have any idea what this might be in reference to??? and why would there be a trading halt in regard to this merger news? Am i missing something or is this out of the ordinary and unexpected?
I'm a holder of only GBG now and waiting in anticipation!!
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What's gonna happen to GBG and SDL?
Probably GBG will go up, while SDL will go down cos SDL only went up to $0.8 because of merger rumours and talk. While GBG was like 1.8, after the stupid merger talks, it never reached 1.8 anymore. Hopefully this time GBG will go above 1.8 at long bloody last!
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DJ Gindalbie, Sundance To Shelve A$2.4 Bln Deal - Report
25/10/2007 09:24AM AEST
PERTH (Dow Jones)--Gindalbie Metals Group (GBG.AU) and Sundance Resources (SDL.AU) are set to scrap their A$2.4 billion iron ore merger, a report in The West Australian newspaper said Thursday.
The two Perth-based companies, both chaired by former Portman Ltd. (PMM.AU) chief executive George Jones, are expected to confirm the end of merger talks as early as Thursday morning, the newspaper said, without providing the source of its information.
Shares in both companies were placed on trading halts Wednesday, with both having fallen more than 9% since the deal was announced a month ago.
Investors are worried about the logic of merging Gindalbie's relatively advanced Western Australian iron ore projects with Sundance's early-stage Cameroon venture, the report added.
When he unveiled the deal in September, Jones said the expanded company would enjoy better access to debt and equity markets, with the merged entity planning to have five major projects under construction in the next five years.
-By Sydney bureau; 61-2-8235-2950; djnews.sydney@dowjones.com
Probably GBG will go up, while SDL will go down cos SDL only went up to $0.8 because of merger rumours and talk. While GBG was like 1.8, after the stupid merger talks, it never reached 1.8 anymore. Hopefully this time GBG will go above 1.8 at long bloody last!
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DJ Gindalbie, Sundance To Shelve A$2.4 Bln Deal - Report
25/10/2007 09:24AM AEST
PERTH (Dow Jones)--Gindalbie Metals Group (GBG.AU) and Sundance Resources (SDL.AU) are set to scrap their A$2.4 billion iron ore merger, a report in The West Australian newspaper said Thursday.
The two Perth-based companies, both chaired by former Portman Ltd. (PMM.AU) chief executive George Jones, are expected to confirm the end of merger talks as early as Thursday morning, the newspaper said, without providing the source of its information.
Shares in both companies were placed on trading halts Wednesday, with both having fallen more than 9% since the deal was announced a month ago.
Investors are worried about the logic of merging Gindalbie's relatively advanced Western Australian iron ore projects with Sundance's early-stage Cameroon venture, the report added.
When he unveiled the deal in September, Jones said the expanded company would enjoy better access to debt and equity markets, with the merged entity planning to have five major projects under construction in the next five years.
-By Sydney bureau; 61-2-8235-2950; djnews.sydney@dowjones.com
Like waking from a nightmare and feeling that huge relief that none of it was true.
We are officially free of the SDL hand brake holding us back.
Lodestone initial drill results due out before the end of the month (that's next week!).
Better days ahead for GBG holders.
We are officially free of the SDL hand brake holding us back.
Lodestone initial drill results due out before the end of the month (that's next week!).
Better days ahead for GBG holders.
bigdog
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ASX ANN
GBG 10:08 AM Gindalbie and Sundance agree not to proceed with Merger
http://www.asx.com.au/asx/statistics/showAnnouncementPDF.do?idsID=00773929
No doubt reason for SP currently +$0.155 +10.44%
GBG $1.64 +$0.155 +10.44% high of $1.66 $1.58 6,160,223 shares $9,992,154 @ 25-Oct 12:43:45
Gindalbie Metals Ltd (ASX: GBG - "Gindalbie") and Sundance Resources Limlted (ASX: SDL - "Sundance") today advised that
the Boards of both companies have decided not to proceed with the proposed merger announced on 24 September 2007.
The decisions follow due diligence undertaken by the companies and consideration of extensive feedback received from
shareholders in both companies. The due diligence process remains subject to confidentiality provisions.
Commenting on the announcement, Mr George Jones, who is the Chairman and a shareholder of both Gindalbie and Sundance,
said: "Although I am disappointed with the decision of the respective Boards not to proceed with the merger, I would like to
express my full support for both Boards and management teams and my strong belief in the quality of the iron ore projects being developed by both companies".
"Both Gindalbie and Sundance clearly have excitlng projects which the respective companies can look forward to developing
and which will, I believe, continue to underpin strong growth in shareholder value," Mr Jones added.
Gindalbie's Managing Director, Mr Garret Dixon, said: "While the companies have agreed not to pursue the proposed merger, the Gindalbie Board remains fully committed to growing the Company through development of the Karara Iron Ore Project and other opportunities. We have a substantial resource at Karara and the development of our hematite and cornerstone magnetite projects remains the Company's first priority."
GBG 10:08 AM Gindalbie and Sundance agree not to proceed with Merger
http://www.asx.com.au/asx/statistics/showAnnouncementPDF.do?idsID=00773929
No doubt reason for SP currently +$0.155 +10.44%
GBG $1.64 +$0.155 +10.44% high of $1.66 $1.58 6,160,223 shares $9,992,154 @ 25-Oct 12:43:45
Gindalbie Metals Ltd (ASX: GBG - "Gindalbie") and Sundance Resources Limlted (ASX: SDL - "Sundance") today advised that
the Boards of both companies have decided not to proceed with the proposed merger announced on 24 September 2007.
The decisions follow due diligence undertaken by the companies and consideration of extensive feedback received from
shareholders in both companies. The due diligence process remains subject to confidentiality provisions.
Commenting on the announcement, Mr George Jones, who is the Chairman and a shareholder of both Gindalbie and Sundance,
said: "Although I am disappointed with the decision of the respective Boards not to proceed with the merger, I would like to
express my full support for both Boards and management teams and my strong belief in the quality of the iron ore projects being developed by both companies".
"Both Gindalbie and Sundance clearly have excitlng projects which the respective companies can look forward to developing
and which will, I believe, continue to underpin strong growth in shareholder value," Mr Jones added.
Gindalbie's Managing Director, Mr Garret Dixon, said: "While the companies have agreed not to pursue the proposed merger, the Gindalbie Board remains fully committed to growing the Company through development of the Karara Iron Ore Project and other opportunities. We have a substantial resource at Karara and the development of our hematite and cornerstone magnetite projects remains the Company's first priority."
Hi there. How do you know it is due before the end of month? Didn't they delay releasing the results before?
I emailed Gindalbie, they replied same day. The September quarter figures are due next week, including the initial drill results of Lodestone.
P.S. SDL down 17% ATM, the reason for our frustration has just taken a big dive!
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Ahhhhh don't you love it when you have a win every now and again!!
I held both GBG and SDL when they announced the merger. I sold out completely of SDL on its last surge to 80c and did very nicely. It was a toss up whether to sell SDL or GBG but i'm so pleased i went the way i did seeing the result of todays announcement. Obviously the market & GBG holders felt that the merger at this point in time was a constraint on the advancement of GBG.
I'm quietly excited about where GBG might go from here. I must say that i do feel a lot more comfortable with GBG now having all their resources on shore in a safe country like Australia. A number of iron ore companies over in the west have been on a SP surge (eg. AGO) and maybe now we will see GBG join the trend. Today's surge is very encouraging up nearly 9% at present. GBG may be much more appealing to those investors looking to invest in aussie only resources. This together with Lodestone results due soon might make us in for some exciting times ahead. DYOR
I held both GBG and SDL when they announced the merger. I sold out completely of SDL on its last surge to 80c and did very nicely. It was a toss up whether to sell SDL or GBG but i'm so pleased i went the way i did seeing the result of todays announcement. Obviously the market & GBG holders felt that the merger at this point in time was a constraint on the advancement of GBG.
I'm quietly excited about where GBG might go from here. I must say that i do feel a lot more comfortable with GBG now having all their resources on shore in a safe country like Australia. A number of iron ore companies over in the west have been on a SP surge (eg. AGO) and maybe now we will see GBG join the trend. Today's surge is very encouraging up nearly 9% at present. GBG may be much more appealing to those investors looking to invest in aussie only resources. This together with Lodestone results due soon might make us in for some exciting times ahead. DYOR
