He probably means that he wanted to sell if the sp fell substantially. Someone found his order though. If thats the case, he should have used a trailing sell order.
GBG - Gindalbie Metals
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He probably means that he wanted to sell if the sp fell substantially. Someone found his order though. If thats the case, he should have used a trailing sell order.
Here's a stab at answering that.
It's largely a matter of market capitalisation so GBG's market cap would need to increase to the point where it displaces some other company, assuming that yet another company doesn't increase even more! I understand that "balance" comes into the equation to some degree, ie not too many iron ore companies and not enough IT stocks, for example, but I doubt whether this would be an issue with a company that had clearly "earned" a place by virtue of its m/cap.
The big implication is that it would gain wider appeal and would become a "must hold" for a lot of funds, not only those which advertise themselves as index funds.
Index re-balancing is done quarterly and must be due shortly.
It's largely a matter of market capitalisation so GBG's market cap would need to increase to the point where it displaces some other company, assuming that yet another company doesn't increase even more! I understand that "balance" comes into the equation to some degree, ie not too many iron ore companies and not enough IT stocks, for example, but I doubt whether this would be an issue with a company that had clearly "earned" a place by virtue of its m/cap.
The big implication is that it would gain wider appeal and would become a "must hold" for a lot of funds, not only those which advertise themselves as index funds.
Index re-balancing is done quarterly and must be due shortly.
Sorry, sino
Asking for or giving advice on ASF is not permitted - see Conditions of use.
I hold GBG and am hanging on to mine for the present for the following reasons
- Large deposits.
- Strong investor/JV partner in Ansteel.
-Strong demand and price for iron ore.
- Company well advanced compared to other mid-West companies.
- Positive broker reports, not that I place a lot of faith in such things but worth a read. ( Can be found on company's website.)
But whatever, DYOR.
Asking for or giving advice on ASF is not permitted - see Conditions of use.
I hold GBG and am hanging on to mine for the present for the following reasons
- Large deposits.
- Strong investor/JV partner in Ansteel.
-Strong demand and price for iron ore.
- Company well advanced compared to other mid-West companies.
- Positive broker reports, not that I place a lot of faith in such things but worth a read. ( Can be found on company's website.)
But whatever, DYOR.
Sorry, sino
Asking for or giving advice on ASF is not permitted - see Conditions of use.
I hold GBG and am hanging on to mine for the present for the following reasons
- Large deposits.
- Strong investor/JV partner in Ansteel.
-Strong demand and price for iron ore.
- Company well advanced compared to other mid-West companies.
- Positive broker reports, not that I place a lot of faith in such things but worth a read. ( Can be found on company's website.)
But whatever, DYOR.
Thanks a lot mate!
I am still holding GBG up to today and I will keep on holding to it. I think one day it will pay off.
Hi all,
New to the boards. Just wondering what was with the dip in price today after 5 or so days of good gains. I've always heard this company has big potential, and is one of the reasons I got on board, though it's yet to really fufill it. Does anyone see some major gains in the near future, or will it be battling at the $1.70 mark until production.
New to the boards. Just wondering what was with the dip in price today after 5 or so days of good gains. I've always heard this company has big potential, and is one of the reasons I got on board, though it's yet to really fufill it. Does anyone see some major gains in the near future, or will it be battling at the $1.70 mark until production.
Who knows?
It's quite normal to see a retracement after a sustained increase in SP - profit-taking and all that!
I guess a trader might want to do just that ( ie, take profits ) but I'm holding on for a while yet. Don't think it's useful or realistic to try to guess the course of prices out to actual production. Too much can/could happen between now and then!
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Didn't GBG just have a major gain? What $0.70 to $1.80 in what, one month!
It is a pitty, but most of the time it is everyone for themselves. Treads run wild when the price is rising just adding fuel to the fire. Sucks a few extras in to buy some more shares. While some run out the back door. I liked GBG at $0.73 when I bought. And I explained why. At $1.80 it is a different story.
Although I will say that Ansteel has FIRB approval for their 50% chunk of the mine. They have had it since last September from memory. Ansteel has just under 15% in GBG shares as well from memory. Ansteel I read has had a application in at the FIRB recently. (read it about 5 weeks ago) As they already had FIRB for the 50% their application must be to increase their stake from their 15% or they are investing in another project in Australia. I wondered if the recent share price has anything to do with this.
New announcement is up on ASX
Date of lodgement: 02-Jun-2008
Title: Open Briefing ®. CEO Outlines Expansion Plans & Opportunities
Record of interview:
corporatefile.com.au
Gindalbie Metals Limited (ASX Code: GBG) have commenced a Feasibility Study
on increasing the magnetite start-up production rate of the Karara Iron Ore Project
from 8 Mtpa (4 Mtpa concentrate and 4 Mtpa pellets) to 12Mtpa of magnetite
concentrate. The Feasibility Study will also assess the viability of further
increases to the magnetite concentrate production rate. How long will this take?
Would any additional capital be required above your original BFS estimate? What
would the likely product mix (concentrate vs. pellets) be under an expanded
production scenario?
CEO Garret Dixon
You have to think about where Gindalbie came from. When we started with our
equal joint venture partner Ansteel we thought we had a 400 million tonne
Exploration Target at Karara and we looked at a potential mining rate of 20 Mtpa
to provide our estimated concentrate production rate of 8 Mtpa.
However, Karara has proven to be a much richer orebody than first anticipated
with drilling to date defining a 497 million tonne Reserve plus a 929 million tonne
Resource of available magnetite iron ore. We are currently drilling to define our
magnetite Exploration Target of 2.2-2.8 billion tonnes, which would equate to 0.9-
1.1 billion tonnes of concentrate grading 68-69% - or 1 billion tonnes of a high
grade Direct Shipping Ore equivalent, if you like.
As a result, our production rate could comfortably be three times the level of our
Bankable Feasibility Study and possibly more. As a first stage, we’ve started to
look at increasing the start-up rate to 12 Mtpa. We know that Ansteel are also
very keen to get more ore for their own expansion plans, which involve lifting
their finished steel production from 24 Mtpa to more than 50 Mtpa by 2011.
Date of lodgement: 02-Jun-2008
Title: Open Briefing ®. CEO Outlines Expansion Plans & Opportunities
Record of interview:
corporatefile.com.au
Gindalbie Metals Limited (ASX Code: GBG) have commenced a Feasibility Study
on increasing the magnetite start-up production rate of the Karara Iron Ore Project
from 8 Mtpa (4 Mtpa concentrate and 4 Mtpa pellets) to 12Mtpa of magnetite
concentrate. The Feasibility Study will also assess the viability of further
increases to the magnetite concentrate production rate. How long will this take?
Would any additional capital be required above your original BFS estimate? What
would the likely product mix (concentrate vs. pellets) be under an expanded
production scenario?
CEO Garret Dixon
You have to think about where Gindalbie came from. When we started with our
equal joint venture partner Ansteel we thought we had a 400 million tonne
Exploration Target at Karara and we looked at a potential mining rate of 20 Mtpa
to provide our estimated concentrate production rate of 8 Mtpa.
However, Karara has proven to be a much richer orebody than first anticipated
with drilling to date defining a 497 million tonne Reserve plus a 929 million tonne
Resource of available magnetite iron ore. We are currently drilling to define our
magnetite Exploration Target of 2.2-2.8 billion tonnes, which would equate to 0.9-
1.1 billion tonnes of concentrate grading 68-69% - or 1 billion tonnes of a high
grade Direct Shipping Ore equivalent, if you like.
As a result, our production rate could comfortably be three times the level of our
Bankable Feasibility Study and possibly more. As a first stage, we’ve started to
look at increasing the start-up rate to 12 Mtpa. We know that Ansteel are also
very keen to get more ore for their own expansion plans, which involve lifting
their finished steel production from 24 Mtpa to more than 50 Mtpa by 2011.
Everyone seems to have gone quiet. I may only be one small bear but it is hard to see that the fundementals on GBG have changed that greatly in the last two weeks to cause the share price to give up around 20 per cent. Am I watching the GBG baby get thrown out with the bathwater after taking a bath the last week. Perhaps I should just go back to the cave and hibernate for a while. My gut instinct is that emotion is driving the market and some nasty technical end of FY stuff. Maybe I am just hopeful.
CCZ Equities Research out on the GBG web site.
Any opinions ?
http://www.gindalbie.com.au/Investor+Relations/ASX+Announcement/default.aspx
Any opinions ?
http://www.gindalbie.com.au/Investor+Relations/ASX+Announcement/default.aspx
Sean K
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Natural correction after doubling in a month. I was just in for a chart trade on what looked to be some good tech indicators and market sentiment. Not sure about FY loss selling, it's up where it was aroundabout last year...Everyone seems to have gone quiet. I may only be one small bear but it is hard to see that the fundementals on GBG have changed that greatly in the last two weeks to cause the share price to give up around 20 per cent. Am I watching the GBG baby get thrown out with the bathwater after taking a bath the last week. Perhaps I should just go back to the cave and hibernate for a while. My gut instinct is that emotion is driving the market and some nasty technical end of FY stuff. Maybe I am just hopeful.
CCZ's updated estimates assume that GBG will opt for 50% increase in start up volumes to 12 mtpa for Karara and 3 mtpa for the Mungada DSO. Announcement on the decision is expected by October, 2008.
All looks pretty logical to me that the JV would go for the bigger volumes, given the state of the iron ore market. Environmental approvals are still the vital issue, IMO.
As for CCZ's numbers, let's hope they know what they're doing!
Came out of my cave yesterday. The SMH had an article by Marcus Padley 28 June in the business section. He talked about 600 brokers attending a lunch to give out awards. A Calcutta was held as to what will be the share that does the best in FY 2008-9. Someone (broking house) paid $36000 for was GBG. This was the top price with Karoon gas behind. Last years was won by the Southern Cross boys who picked Fortescue. I hpoe they are right.
Spot on Bear, we may have to roll up to next years awards too to collect our prize.
Charities in luck as brokers go for broke at casino
Padley
June 28, 2008
15th annual Australian Stockbrokers Foundation Awards night last week. A charitable affair. Into the valley of the shadow of the Star City casino rode the 600 (stockbrokers). A lethal combination of bull, bear, Crown Lager, De Bortoli wines and a dance floor.
Mixed in with the awards were some notable displays of charity and a Calcutta stock auction. This involved auctioning eight stocks. The idea was to buy the stock that would perform the best in the next 12 months. Fortescue won last year's Calcutta and Southern Cross Equities promptly re-donated its winnings. The most sought after of the eight was Gindalbie Metals, which fetched a hard-fought $36,000, closely followed by Karoon Gas ($35,000), Sunshine Gas, Nexus, Equinox, Pan Australian, Aquarius Platinum and, bargain of the night, Paladin at $10,000. Total raised $145,000. It seems the broking community has spoken. Resources are the only game in town, with iron ore the obvious play and coal bed methane close behind.
Charities in luck as brokers go for broke at casino
Padley
June 28, 2008
15th annual Australian Stockbrokers Foundation Awards night last week. A charitable affair. Into the valley of the shadow of the Star City casino rode the 600 (stockbrokers). A lethal combination of bull, bear, Crown Lager, De Bortoli wines and a dance floor.
Mixed in with the awards were some notable displays of charity and a Calcutta stock auction. This involved auctioning eight stocks. The idea was to buy the stock that would perform the best in the next 12 months. Fortescue won last year's Calcutta and Southern Cross Equities promptly re-donated its winnings. The most sought after of the eight was Gindalbie Metals, which fetched a hard-fought $36,000, closely followed by Karoon Gas ($35,000), Sunshine Gas, Nexus, Equinox, Pan Australian, Aquarius Platinum and, bargain of the night, Paladin at $10,000. Total raised $145,000. It seems the broking community has spoken. Resources are the only game in town, with iron ore the obvious play and coal bed methane close behind.
