GBG - Gindalbie Metals

[Out Too Soon]

Ah yes! Looking at those charts over that time frame makes my statement/ exhuberance rather embarrassing.
I guess the reason (2 reasons actually) that I'm so up beat about Gindalbie Metals is
A It's a great project fundamentally sound & will be huge in years to come (DYOR there's a lot to this one including a smelter in China)
&
B I'm just fortunate to have been in & out of it at the right time.
bought .49 sold .70
bought .52 sold .57
bought .53 sold ?
Yes it nearly hit .80 on a bit of premature over-exhuberance last year, I just hope I'm holding when it really takes off. I missed out on PLA & AGS playing these games, I'm also watching BSG & JML closely.
Not many of these gonna be miners haven't peaked & retreated in the last 12 months, that's why an eye has to be kept on FUNDAMENTALS, not just the charts.
Thanks for pulling me up on that short rampy statement though, I admit with hindsight I deserved to be corrected.
Don't forget May is around the corner, I'm hoping to get some good bargains when the May Sale! hits.

 

[Out Too Soon]

Re: GBG - Gindalbie Gold

As I'm lazy & a terrible typist (not a typist at all) I plucked a previous post of mine just to add a little about the fundamentals without doing all the work for you guys

----- They have 2 large iron ore projects at Karrara near Geraldton & plan to ship the ore to China. They have an agreement signed with Ansteel one of Chinas largest steel producers. They hope to be producing 10 million tonnes of iron products by 2010. Will start producing in 2008.
Gindalbie & Ansteel also have an agreement with Theiss to construct a plant to process the ore in NE China.
Gindalbie have sold off there gold project interests but have retained iron ore rights overthose tenements, they also have an interest in the MT mulgine Tungsten project.
Now that I've gone over their prospects to write this I think I'll put it back in the bottom draw, might even buy some more for the future.
Am I talking to myself or does someone else hold this stock???

That was late last year before the sp shot up to ~ .79 forcing me to take profits .
Another bonus with this particular set of projects is they have their own setup at Geraldton port, so no hold ups there once production starts. This project has been so well setup/planned they have a hand/profit in the process all the way from the mines in WA to the processing plant in China via there own port facilities.
Yes I'm upbeat about Gindalbie but I think my enthusiasm is well placed.

 

[Glenhaven]

Re: GBG - Ginalbie Gold

I have liked this stock for some time. I was invited to a presentation that management did in Sydney last year and I was quite impressed with the style of the presenters.

I am in at 8c and have not taken any profits yet. I probably should have, like you when they went above 70c, but I usually get it wrong, ie when I sell they go higher.

 

[Out Too Soon]

Re: GBG - Ginalbie Gold

I have liked this stock for some time. I was invited to a presentation that management did in Sydney last year and I was quite impressed with the style of the presenters.

I am in at 8c and have not taken any profits yet. I probably should have, like you when they went above 70c, but I usually get it wrong, ie when I sell they go higher.

8c
Well done Glenhaven, patience is a virtue & in your case a big profit. Holding on for $8?!?!?! good on you!

 

[spottygoose]

Re: GBG - Ginalbie Gold

FURTHER HIGH-GRADE HEMATITE MINERALISATION DELINEATED AT KARARA

Gindalbie Metals (ASX code: GBG) is pleased to announce that Reverse Circulation (RC) drilling undertaken at the Terapod West (MR7) Prospect, which forms part of its wider Karara Hematite Project in Western Australia, has intersected significant zones of high-grade hematite mineralisation.
Better intersections from the drilling included:
Hole MGC 269 42 metres @ 62.5% Fe, 4.5% SiO2 & 0.04% P from 14 metres
Hole MGC 271 42 metres @ 64.4% Fe, 2.5% SiO2 & 0.03% P from 53 metres
Hole MGC 293 26 metres @ 64.6% Fe, 1.8% SiO2 & 0.02% P from 34 metres

The drilling program was part of the ongoing exploration and resource development program focused on the Mungada Ridge area at Karara, where Gindalbie is aiming to define resources which will underpin the development of a long-term hematite DSO (direct shipping ore) business, planned to commence operations in 2008. Earlier this year, Gindalbie announced an initial hematite resource of 14.1 million tonnes grading 60.6% Fe, 7.8% SiO2, 1.2% Al2O3, 0.11% P, 0.06% S and 3.1% LOI. This initial Inferred Resource was generated from the first nine hematite deposits at Karara to be covered by Gindalbie’s ongoing hematite resource development program. There is considered to be significant potential to further increase the hematite resource inventory through drilling of numerous hematite prospects discovered in the region such as the MR7 Prospect.

Results of the RC drilling at the MR7 Prospect, which was first discovered in 2006 by the surface mapping and rock chip sampling program, have confirmed the presence of significant zones of high-grade hematite mineralisation.

Gindalbie’s Managing Director, Mr Garret Dixon, said the success of the drilling at MR7 highlighted the prospectivity of the Mungada area and the potential to continue to further significantly increase the hematite resource inventory at Karara to underpin the longer term growth of the planned DSO operation.

“The initial resource of 14.1 million tonnes is being used in our current Feasibility Studies and will underpin an initial start-up DSO operation commencing at 1.5mt/annum in 2008 and subsequently expanding to 3mt/annum,” Mr Dixon said. “However, our exploration activities are continuing to test numerous other hematite prospects in the area with a view to enhancing the longer-term future of this project.”

“The hematite project has the potential to generate significant early cash flow which will support our broader objectives with the development of the Karara Magnetite Project,” he added. “The drill hole data is presently being modelled with the aim of establishing an initial Mineral Resource for the MR7 prospect,” Mr Dixon continued. “Importantly, the drilling intersections at MR7 highlight the potential of the area to host significant zones of near-surface, high-grade iron mineralisation with notably low levels of phosphorous. Deposits like this will be strategically important in improving the overall DSO product bled”.

 

[dj_420]

Re: GBG - Ginalbie Gold

great news for this one spottygoose some good hits there, if GBG start proving up more significant fe deposit i would expect some interest increasing in GBG to say the least

 

[dj_420]

Re: GBG - Ginalbie Gold

gaps almost filled completley on buy side. has broken through heavy resistance around 59 - 60 cents area in last week.

needs to hold this area. but from what i can see if buy gaps all close up we may then see another breakout through the next level of resistance.

 

[Pat]

Re: GBG - Ginalbie Gold

Hello GBG holders etc.

Been keeping an eye out and i'll be inon open in the morn. see what lady luck will bring in the long run.

Chart looks good with a trend line forming from the lows in mid march. Also looks like 55 cents is the support for now. So with a stoploss set 5%-10% about 55 cents or so, the risk is somewhat lower for me.
MACD looks like its about to cross, just need an ann to spark some volume.

 

[dj_420]

Re: GBG - Ginalbie Gold

dont know if anyone has really starting looking into GBG
some stats based on magnetite value, based on proven resources

GBG
Market cap
436 294 406 shares = 257 413 700

Insitu value of resources

magnetite
1.29 billion tonnes x 0.363% = 468 270 000 tonnes
pellets $100 per tonne = $46.827 billion insitu

magnetite potential to host 4 billion tonnes of magnetite
current resource estimate to 300 metres, resource however extends another 300 metres deep
assuming 4 billion tonne upgrade
4.0 billion tonnes x 0.35 = 1.4 billion tonnes
pellets $100 per tonne = $140 billion insitu


hematite
15 million tonnes x 0.62% = 9 300 000 tonnes
DSO $90 per tonne = $837 million insitu

hematite potential to host 40 million tonnes of hematite
assuming 40 million tonne upgrade
40 million tonnes x 0.60% = 24 000 000 tonnes
DSO $90 per tonne = $2.16 billion insitu


cash flow
hematite starting mid 2008
1.5 million tonnes per year = $135 million gross

magnetite starting 2010
8 million tonnes per year = $800 million gross
approx costs per tonne = $32 per tonne
approx cash flow after costs = $544 million after costs

magnetite projected by 2015
20 million tonnes per year = $2 billion gross
approx costs per tonne = $32 per tonne
approx cash flow after costs = $1.36 billion

revenue breakdown GBG/Ansteel 50/50
GBG 2010 approx = $272 million just on magnetite
GBG 2015 approx = $680 million just on magnetite

estimated capital expenditure for magnetite = $1 billion
GBG/Ansteel 25%/75%
GBG to fund 250 million


however we can assume a much lower cost per tonne as that figure was on a 400 mt resource, potential here to be 4 billion tonne resource

this also does not take into account hematite cash flow (as i didnt know approx mining costs)

anyone care to check figures, not sure if they are all accurate. dont really know how to put $ figure on share price estimate either, anyone care to have a go

 

[dj_420]

Re: GBG - Ginalbie Gold

GBG has been trading in channel for a few months, has made attempt to break out into higher trading channel but failed.

has seen some big resistance at 62 - 63 cents, i would like to see the next run close above these levels. showing good uptrending support however, i would place downside risk at 55 cents from here.

MACD has converged and just crossed over in last few days trading.

 

[dj_420]

Re: GBG - Ginalbie Gold

great day for GBG, slight opening window gap on open, high amount of volume saw GBG break through that stiff resistance level at 62-63 cents.

GBG has actually hit the resistance point several times and failed every time to close above it.

todays action saw the sp closing on the high with a huge increase in volume, MACD crossed over last week. IMO nest level of significant resistance will be 80 cents mark, but for now we want GBG to hold this new level.

IMO this stock has been consolidating for quite a while at low levels due to delays on BFS. HOWEVER the reasons for the delays have been because the resource is much bigger than expected, GBG should be producing hematite start of next year and should also be close to testing lodestone area.

the lodestone area has huge potential to host another karara style deposit. so technically and fundmentally this one is starting to shine.

 

[dj_420]

Re: GBG - Ginalbie Gold

funnily enough i feel like im the only one on this stock on ASF, any holders out there?

anyway thought this might be of interest

http://www.gindalbie.com.au/files/IronClad-94-gindalbie_news_v15_for_website.pdf



hello, echo.. echo ...... echo

 

[dj_420]

Re: GBG - Ginalbie Gold

GBG starting to break out

buyers have now filled the gaps from last move to current sp levels, looking good to get through to 70 cents up to longer term resistance at 80 cents.

IMO lodestone drilling and fesibility will help break that long term area

 

[j4mesa]

Re: GBG - Ginalbie Gold

The chart look very promising ,dj_420......

I am looking to go into it......
This company has got sound fundamentals as well......

 

[dj_420]

Re: GBG - Ginalbie Gold

The chart look very promising ,dj_420......

I am looking to go into it......
This company has got sound fundamentals as well......

hey j4mesa

good to see a post on this thread thats not mine! lol

sellers are beginning to look exhausted on GBG now, big buys went through yesterday 1 000 000 at 65 cents, few big orders today also.

 

[j4mesa]

Re: GBG - Ginalbie Gold

AAgree with you dj
If I have only woke up earlier, I would have got the 65 c price.
I woke up when the price is about 66.5 c.
Will definitely buy it, see how it goes today.......dj
Are you in?

 

[dj_420]

Re: GBG - Ginalbie Gold

yeah been in since 60 cents, saw it fall back after i got in, but have held on believing the GBG story, so my position is looking better now.

lodestone drilling starts soon! fingers crossed they discover another karara deposit

 

[need more money]

Re: GBG - Ginalbie Gold

Hey Dj - Play us some more music - Finally broken out of .60 barrier.

I hold MMX (neighbour) it has gone absolutley nuts. Through that i read all about alliance & keep hearing GBG & MIS. Jumped into MIS for $1 about 6 weeks & made 50%. Panic on a bad day & sold. They now $2.40 (Stupid i know) very hard to get outside info on.

So after holding MMX from .47 + .60 looked & GBG & looks pretty similar. So took a stab when it got smashed because the BFS report was delayed. Waited a little to long & missed under .50 but on recovery got in @ .57 know that if you hold till @ least feasibility study should go back to .80 (i hope)

Then i subscribed to WA News (4 week newspaper free - then pay them - Bugger that) had an article on the main dude. Basically saying the delays were because the project was so big & need to get it right. Plus power was an issue as well. But his overall knowledge & experience was exeptional & he is the main tie to ansteel. Then he talked about how the Asians aren't in for the quick fix they are after long term projects hence there willingness to spend big now for long term return. Excellent when you consider how important the asians are to running these things.

It seems like some of the stock may have to be mined differently & involve more crushing from my memory than say MMX which has some top stuff.
But i know GBG has a massive amount.

Hope GBG doesn't take to long after the BFS because as with MIS MMX & FMG iron ore stocks going completely crazy & would love that to happen again.

Don't usually use this website - use shares.com.au - but depends this good for GBG - Shares good for MMX - have got that cranking over there now.

Keep up the interesting feeds

Cheers

 

[dj_420]

Re: GBG - Ginalbie Gold

ann out

broad zones of hematite and magnetite intersected at mungada, some large intersections there. good stuff.

GBG continually bringing in good drilling results, getting closer to feasibility, lodestone drilling, cant wait!

IRON ORE INTERSECTIONS INDICATE BROAD ZONES OF MAGNETITE AND HEMATITE AT MUNGADA
Gindalbie Metals (ASX code: GBG) is pleased to announce that further Reverse Circulation (RC) drilling undertaken at the Blue Hills North (BH2) deposit, part of its Mungada Hematite Project in Western Australia, has identified further iron ore mineralisation below the existing hematite resource. The results indicate that this new zone has the potential to produce either direct shipping hematite ore or DR (Direct Reduction) grade magnetite concentrate.
The drilling is part of an ongoing hematite exploration and resource development program focused on the Mungada Ridge area.
Indicative intersections from the recent deeper drilling at Blue Hills North are shown in Table 1:
Hole ID
From
(m)
To
(m)
Interval
(m)
Fe
(%)
SiO2
(%)
P
(%)
MGC356
118
226
108
52.7
19.8
0.14
Including
181
213
32
55.7
16.7
0.14
MGC357
88
163
75
51.4
22.2
0.13
Including
121
130
9
62.2
4.9
0.16
MGC358
89
176
87
49.9
23.2
0.15
Including
141
174
33
57.2
10.6
0.21
Table 1: Blue Hills North Intersections
The results indicate that the deeper mineralisation at Blue Hills North is characterised by exceptional magnetic properties and magnesium-carbonate alteration, resulting in ore that grades on average over 50% Fe with a reduced silica content but elevated levels of magnesium, calcium and phosphorous.
Within this broad zone of alteration is coarse grained magnetite featuring substantial depletion of silica and further enrichment of iron. Near surface, the oxidised zone has been enriched and converted to hematite, grading +62% Fe, 3-5% silica and 0.06% phosphorous (as shown in Fig. 1 attached).
Page 1
Page 2
This style of deeper mineralisation at Blue Hills North offers two separate opportunities to the Company, namely:
• the potential to produce DSO (Direct Shipping Ore) hematite from the upper, oxidised zone. These ores are expected to achieve grades of more than 62% Fe and would be supplied as either lump or fines products; and
• the potential to produce altered, partially enriched magnetic ores which would be mined separately and either fed to the proposed Karara magnetite concentrator as supplemental feed to the nearby Karara magnetite deposit or alternatively concentrated separately to produce a DR quality iron concentrate.
Testwork on similar ores associated with smaller areas of alteration at Karara yielded very high grade concentrate, (+70% iron and < 2% silica) with very high weight recovery (+70%) at the proposed grind size of 25μm.
Testwork programs will now be undertaken on these ore types to determine:
their metallurgical performance as DSO ores to sinter plants and blast furnaces;
their weight recovery and concentration characteristics at various grind sizes for the Karara concentration processes; and
their impact on grinding characteristics and power demand within the proposed grinding circuit at Karara.
The geological model developed at Blue Hills North will be applied across the Mungada Hematite Project to identify further opportunities to extend both the hematite and magnetite resources of the Project.
Gindalbie’s Managing Director, Mr Garret Dixon, said: “Ongoing exploration activities at Mungada are continuing to identify potential new sources of ore to grow the existing hematite resource base, with high-grade results announced last month from the MR7 Prospect and now significant intersections returned from drilling beneath the existing BH2 deposit.”
“These latest results from Blue Hills North potentially open up significant new opportunities for the Company, including the potential to produce DR quality concentrate in the future from the Mungada hematite deposits in addition to DSO hematite. The results have also underpinned a revised geological model which will be applied across the entire project and may result in additions to both our hematite and magnetite resource inventories.”
For more information please contact:
Mr Garret Dixon Mr Darren Gordon
Managing Director Chief Financial Officer
Ph: +618 9480 8700
Fax: +618 9481 8799

 

[dj_420]

Re: GBG - Ginalbie Gold

wow that did not copy very well at all! lol

sorry guys, maybe check the ann from your online broker!