thought i might contribute.
i am very optimistic about the long term potential of GBG which is in the same process as FMG (development of their port, rail network and not to mention scale of dso etc)..
they are well funded with a cash reserve of ~50m (cash report) so there shouldn't be issues there.. i am anticipating production and am looking forward to the EPA announcements come July, they are very well backed by the locals too..
i am uncertain as to why there is negative sentiment with the sp in the short term when other iron ores (BRM, AGO, MMX, MGX) have all made reasonable recoveries..
hold
Slow and steady wins the race..... All that has happened with this stock is that it has become way way more attractive.
GBG is still my preferred entity in the Iron Ore sector. Consider this, FMG has 50x the market cap, but even if FMG can get up to the 200 Mil tonnes per annum (big ask), has only 25 times more ore mined per annum. Granted, GBG has a higher extraction cost, but it does put it in perspective....
Cheers
yeh thing is GBG are to produce in 2011/2012 i think which is probably towards the end of the iron ore boom
u would want to be looking at companies currently producing in the midst of the boom
MGX / MMX / RIO / FMG / MMX? / MIS?
that's what i reckon, GBG might be alright if u buy and put a lock and key and wait 3-4 years.. but if you want peak exposure go with the above.
Not true - read the report released today.
Karara Mining is aiming to commence exports of hematite ore through Geraldton in 2009 and deliver first magnetite concentrate ore from the Karara Magnetite Project by 2010.
Subject to the timely receipt of environmental approvals and financing, Karara Mining is aiming to commence exports of hematite ore through Geraldton in 2009 and deliver first magnetite concentrate ore from the Karara Magnetite Project by 2010.
well done, i was going of the top of my head
Therefore when you consider the price of any of the stocks you quoted - the cheapest being MGX at about $3 a share with similar production timescales you can appreciate why GBG looks attractive to a lot of people.
It a bit frustrating for holders as most of the other iron plays seem to have made a much stronger recovery, which is why I believe a couple of pieces of good news will have this one moving fairly rapidly.
Geoff Wedlock came onto the board today after resigning (getting rolled) from GWR as a result of the GWR-FAS debarcle.
Hi everyone,
I still don't understand why GBG's share price is so low. See the attached broker report (updated end of Feb 08) which values GBG at $1.67.
Say no more!
This stock is going up! I just read a report on friday saying target $1.60 very soon.
Also the price has been steady at around 0.86 for more than 1 week.
I will find that report and paste it here.
Say no more!
This stock is going up! I just read a report on friday saying target $1.60 very soon.
Also the price has been steady at around 0.86 for more than 1 week.
I will find that report and paste it here.
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