GBG - Gindalbie Metals

[agro]

Hi agro
I take it you think the company's timetable is a bit optimistic?
I'm inclined to that view. There seem to be too many ducks to get in line - Environment approvals, infrastructure ( rail, port ),equipment, facilities, staffing etc for this to happen within 2 years. The good news though is that the JV and the financing seems to be firm.
Let's hope I'm wrong ( not for the first time!)

optimistic is always good

well unlike many other iron ores, this one is funded well and truly

if you want to compare to fortescue, they were well funded early in the process too.. and had many barriers to come across - but they did it ! skepticism kept quiet for the time being until it ships mid may

having watched FMG progress over time, no doubt will it be a good opportunity to see how GBG goes from explorer to producer
come 2009/2010

in 5-10 years, i would not be least surprised if the monopoloy on iron ore was run by three companies alone - BHP, RIO, FMG and that the smaller ones will get chomped up

exciting times

 

[oldblue]

Yes, except you would think that a player like GBG, with its big Ansteel partner, would survive against the big boys?
Provided, that is, that all the other factors we've mentioned work out right!

 

[MR.]

Is there any other way to find out the 3 transactions were sold off market?

I couldn't find any information on the link http://www.abc.net.au/lateline/business

Just read your post. The link has nothing to do with the 3 transactions. I was just correcting the error before moving on. The link was just of interest.

I watched the 3 transactions go through on the 2/4/08. All three were organized off market. They did not appear as a seller on market and then suddenly appeared as sold. The three single transactions were for the three quantities as I posted above. The prices sold were $0.71 at 10:14, $0.64 at 11:07 and $0.73 at 12:00. The first and last went through at current market prices. But the middle went through at $0.64 when the market was at $0.74 (perhaps an error?) Anyway it was/is a very good signal. Along with GJ's 1.2 million buys at around $0.81.

My guess is most of the 32 million have already been sold in those "3 transactions." .... 8.5 million to go. ANZ have claimed they only have about 8.5 million.

Yesterdays sell down after the Melewar ann' I think was just panickers or someone tring to trigger the panickers. Eg: that 200 thousand sell at the announcement. Anyway prices go up and down. But it is value for money at these levels imo when you take a look at those transactions, resource and price of BF Pellets.

 

[lowscheong]

Mr.

I use the following website
http://investing.businessweek.com/businessweek/research/stocks/charts/charts.asp?symbol=GBG.AX

and found the transaction you mentioned.

If you don't mind reveal your source(s), actually where did you watch the transactions? on your screen as they happened?? how to tell if it is on market or off market transaction?

I guess Melewar bought back what they "lose" in the Opes thingy but should they disclose it?

Good thing if more than one party wants it

MR.'s response:

Just read your post. The link has nothing to do with the 3 transactions. I was just correcting the error before moving on. The link was just of interest.

I watched the 3 transactions go through on the 2/4/08. All three were organized off market. They did not appear as a seller on market and then suddenly appeared as sold. The three single transactions were for the three quantities as I posted above. The prices sold were $0.71 at 10:14, $0.64 at 11:07 and $0.73 at 12:00. The first and last went through at current market prices. But the middle went through at $0.64 when the market was at $0.74 (perhaps an error?) Anyway it was/is a very good signal. Along with GJ's 1.2 million buys at around $0.81.

My guess is most of the 32 million have already been sold in those "3 transactions." .... 8.5 million to go. ANZ have claimed they only have about 8.5 million.

 

[MR.]

Mr.

I use the following website
http://investing.businessweek.com/businessweek/research/stocks/charts/charts.asp?symbol=GBG.AX

and found the transaction you mentioned.

I guess Melewar bought back what they "lose" in the Opes thingy but should they disclose it?

The link (of yours) sent me to a chart and you can see the spike in the volumes. I'm not sure if there is more? But, try the following link it could be of more help. It doesn't show each transaction but it does show more information, high / low / open / close and volume.

http://www.tradingroom.com.au/apps/qt/quote.ac?code=gbg&section=pricehist

Interesting the low for the 2/4/08 was $0.70 according to my link. Perhaps there was an error with the second transaction and it was $0.74 not $0.64. (another reason why sold off market and incorrectly entered in) I have a copy of all the transactions on the 2/4/08 which I took a copy of on the day. I have tried a couple of times to cut a section of text and post it here but it will not let me. All the transactions are too long to post here. However I will send a private message to you and hopefully you can read the file. (top right hand side of screen "messages")

On market / Off market
I watched via commsec. My point is they were "organized" off market. The volumes for sale did not appear for sale on the screen in front of me. (If they did it was bloody quick and "could be the case") Then they were sold. So for example, if I wanted to buy some of these shares I couldn't. I was not given the chance. If they were sold on market (As I call it) "I'd have a chance to buy" I would see all 6 million of the first transaction. For sale to go through as one transaction (one sale). However if this happened and I/we saw 6 million for sale at $0.71, I might not buy and sell with everyone else who just got spooked.

However if I really wanted to buy some of these shares I'm sure if I rang Merrill Lynch, the broker handling the sale I might be able to buy a couple of million at the right price lol.

Perhaps Melewar bought them back as you suggested. I also have thought this. We have not received a notice of substancial shareholder change from Melewar. ?? (if you sold and bought the same volume, why would you need to inform the market?) However Melewar did lose ownership of the shares to Merrill Lynch and ANZ. ANZ owns 8.5m and is not a substancial holder but Merrill Lynch became a substancial holder as per asx 1/4/08. Each of the transactions on the 2/4/08 was about 2% of the company. So to be a substancial holder you need more than 5%, don't need to inform the market if thats all the new owner own.
Perhaps Melewar does not inform the market because they are confirming that they are no longer the owners!

 

[MR.]

lowscheong,
Above is a picture of a few transactions around the "2nd large transaction" on the 2/4/08.

Time is out by one hour because of daylight savings.

time / price / no shares / total transaction $

 

[lowscheong]

Mr.

The reasons I suspected Melewar still owns those shares because they didn't disclose it in Bursa Malaysia (I would imagine if Melewar realize their investment, they would need to disclose it, even they didn't technically sell those shares). Anyway, all these just speculation.

I appreciate your input and response, Mr.

 

[MR.]

Mr.

The reasons I suspected Melewar still owns those shares because they didn't disclose it in Bursa Malaysia (I would imagine if Melewar realize their investment, they would need to disclose it, even they didn't technically sell those shares).

Following is a link today from Conquest Mining. This is how John Terpu has informed the market with regards to his shares taken by Opes Prime.
An extract: "This release is for the purpose of disclosures and no way acknowledges any disposal or change of interest."
http://www.asx.com.au/asxpdf/20080424/pdf/318rn90pq2jh2y.pdf

 

[DarkyII]

Check out AGO today its up over 30% today on a broker report. BBY broker report valued GBG at $1.67 in Feb 2008, however this was prior to the 2.5 billion tonne resource target at Karara and 50% increase in initial production in FY2010. We also received another 55million today which the market hasn't reacted to at all.

Will be interesting to see the next broker valuation of GBG, hopefully our share price will follow. I'm shocked we are still below $1.

 

[TMC19]

GBG has moved 10% today so far, anyone know why ??

No news that I can find. Speculation on something ??

 

[DarkyII]

GBG has moved 13%+ so far due, might hit $1.

4 million shares were traded at open at 82 cents. I assume this was the last of the ANZ shares to be sold. Thus investors are now confident that no more large selling will occur. Also speculation increases on MMX that they are a takeover target by Sino, this could lead to speculation on GBG as they have the most significant resources. Although GBG would be difficult to overtake with management, Ansteel, and Melewar owning a significant proportion.

We have had significant announcements, imo this share price is a joke.

Fly boy fly!

 

[jonojpsg]

Yeeeeeeehaaaaaaaaaa!!!

Finally GBG has started to move in the way I expected to when I took a CFD on it at $1.67 STupid me without any stop loss has been sitting on a $6000 loss waiting for the SP to move back up again.

Still a ways to go though, but I might have enough capital regained now to take out another position in them as they run back to what they are REALLY worth.

 

[DarkyII]

Try sitting on a 50k odd loss for the last few months I guess I should have diversified but GBG looks way to promising IMO.

I never sold because I know GBG will be a brilliant long term hold and is significantly undervalued. I've recovered a lot of lost capital in the last 2 weeks. The financial stress levels are very low for me despise still sitting on a heavy loss. I guess I was use to seeing ($50,000) red for a few months.

 

[TMC19]

Try sitting on a 50k odd loss for the last few months I guess I should have diversified but GBG looks way to promising IMO.

I never sold because I know GBG will be a brilliant long term hold and is significantly undervalued. I've recovered a lot of lost capital in the last 2 weeks. The financial stress levels are very low for me despise still sitting on a heavy loss. I guess I was use to seeing ($50,000) red for a few months.

I had a feeling a lot of other people were in the same boat as me...

I was sitting on a loss of about 18k with these and never even thought of selling. As stated before and IMO there is significant undervaluation in the market price of this stock. I'm not going to state my reason why I believe that as they are all detailed in the history of this thread but I really hope this one starts to get some life back.

I believe a lot of people are watching this one, if it manages to hold the current price and maybe even poke its head above the $1 mark it will attract serious interest.

However I have seen this before where it has gone a large % in one day to slowly fall off. Lets hope that there is some substance behind the reason why it has rose so much today and that it can a least maintain this current level.

I wish I had some spare cash as I would be picking up more of these. Long term it will reap rewards.

 

[DarkyII]

GBG is a risker option over the other hopefuls, however with risk comes rewards. EPA approvals and the 1.2 billion finance secured will see this stock rocket to new levels. If you beleive they can pull it off then hold and buy buy buy.

No one comes close to GBG with resource size or potential, except of course FMG, RIO, CVRD, and BHP but they are in a different league. Goodluck to all true believers our red pain shall be over soon enough.

 

[TMC19]

Now we're moving, this is more like it. Another 15% today and its managed to get over that critical $1 mark.

Anyone know whats going on ??

 

[trillionaire#1]

20.8% gain today finally this stock is heading north:alcohol:
4400000buys/250000sells,its not just us who thinks its worth owning this stock,go my little beauty:bowser:

 

[Bosco]

20.8% gain today finally this stock is heading north:alcohol:
4400000buys/250000sells,its not just us who thinks its worth owning this stock,go my little beauty:bowser:

Yes I have moved from cask wine to bottled wine to celebrate. I have broken even having bought in a range from 75c-1.40c. I defer to smarter peolple than me. Given that that predictions are fine so long as they are not about the future-does anyone have any current thoughts as to how long this rally may hold? I am not a trader but have been following GBG for around 18 months and hold a reasonable lump of them.
PS. Thanks to those who have provided information on GBG since I have been reading column. I probably would have sold when it fell below $1 if not for the comments from you guys. Much appreciated. Lets hope GBG makes a substantial break away from $1.00 and in the right direction.

 

[hangseng]

Yes we oficially have a breakout, which seemigly has been building since the fall of Jan 22 but definately Apr 1. Next stop $1.25 - $1.35 then little stopping a run upward to $1.80+. I have always loved this stock and even got a slap on the wrist for what was deemed a light ramp, which was fair enough. I really do see the strong possibility of GBG heading over $2 short term, especially after seeing the article on the Chinese value indicator.

Chart says it all.

 

[arminius]

gday bosco. it might pay to step back a little and survey the surrounds. the entire global stockmarket has had a bad run of late, not just gbg, and the sdl thing. this company for me however is like a coiled spring, and its been wound up soooo tight over the last 6 months or so. has it been released? perhaps. perhaps not. but in a year or two the sp could be such that you will tell your friends, 'eh, see that gindalbie, i bought shares in that company when they were a dollar!'
relax mate. its all good.