GBG - Gindalbie Metals

[Love Zn]

If it holds up tomorrow, I think we could see $1.11 becoming the next support and MACD also indicates we could see the sp further increase.

I actually found this useful for comparing the group classed as the mid-west. http://www.mtgibsoniron.com.au/uploa...k_Jan 07.pdf

I bought MGX and GBG last week. MGX having already sent their first two shipments and GBG expecting a BFS in August, requires less capital expense than the others and if I recall hope to start producing in early 2008 about 2mt/pa.

So comparing GBG to the others in the area MGX, MIS, MMX, I think this has a lot of potential.

 

[Pommiegranite]

Can anyone please tell me GBG's fully diluted market cap?

Or provide a link to a website that has this kind of info as upto date as possible?

Thanks

 

[Love Zn]

Not sure if this helps you, sorry don't know how many options they have.

 

[wildmanchris]

Looks like they have gone into a trading halt this morning as well - two of my shares are in halts!

Does anyone know what they would be announcing?

 

[bigdog]

ASX ann
GBG 10:26 AM Media Release - Resource Upgrade & Infrastructure MOUs
http://www.asx.com.au/asx/statistics/showAnnouncementPDF.do?idsID=00736831

GBG 10:24 AM Magnetite Resource Upgrades to 1.43 Billion Tonnes
http://www.asx.com.au/asx/statistics/showAnnouncementPDF.do?idsID=00736828

Upgraded resource estimate of 1.43 billion tonnes grading 36.3% Fe for Karara magnetite deposit.
• Substantial mineral inventory identified below 350 metres.
• Davis Tube Recovery (DTR) analysis produces a concentrate grading 68.8% Fe, 4.2% SiO2, 0.08% Al2O3 and 0.01% P at a weight recovery of 40.7%.
• Indicated Resource of 655 million tonnes at 36.4% Fe to underpin open pit design and Ore Reserve, with a high conversion rate expected.
• MOUs signed with Yilgarn Infrastructure and WestNet to study infrastructure development opportunities to accommodate future expansions of the Karara Project.
• Drilling underway at 100%-owned Lodestone Project targeting a Karara-style magnetite deposit.

SUMMARY
Gindalbie Metals Ltd (ASX: GBG) is pleased to announce a further increase in the mineral resource inventory for its Karara Magnetite Deposit in Western Australia to 1.43 billion tonnes grading 36.3% Fe. The updated resource model has also identified a substantial mineral inventory at Karara, highlighting the world-class nature of the deposit and its long-term growth potential.

The revised 1.43 billion tonne Karara Magnetite Resource represents an 11% increase from the Indicated and Inferred Resource of 1.29 billion tonnes at 36.3% Fe announced in November 2006, but excludes a substantial mineral inventory below the Resource. This material can potentially be upgraded to JORC compliant resource status with additional drilling.

 

[dj_420]

looking better now, GBG have increased the karara deposit quite subtantially the last two times. this time only a 10% increase but resource was already over a billion tonnes.

mgt have eluded to the fact that they estimate in excess of 2 billion tonnes will be eventually proven.

not too much sp movement increase could have already been factored in. though it still looks cheap compared to peers.

 

[barney]

looking better now, GBG have increased the karara deposit quite subtantially the last two times. this time only a 10% increase but resource was already over a billion tonnes.

mgt have eluded to the fact that they estimate in excess of 2 billion tonnes will be eventually proven.

not too much sp movement increase could have already been factored in. though it still looks cheap compared to peers.

Agreed DJ, Looks a good story unfolding for longer term holders ............ Still some solid buy orders going through at todays level, which is a good sign/accumulation .......... Probably get a few sellers taking their profits, but looks to have a bit more momentum left in this run to me, especially considering the market is pretty flat.

 

[56gsa]

Can anyone please tell me GBG's fully diluted market cap?

Or provide a link to a website that has this kind of info as upto date as possible?

Thanks

$529,054,620 with sp @ $1.20

no options...

i find theage website useful - can list options too by looking at the 'related' option next to the asx code

http://markets.theage.com.au/apps/qt/quote.ac?code=GBG

cheers pommieG - bit bigger than FWL!

 

[reece55]

$529,054,620 with sp @ $1.20

no options...

i find theage website useful - can list options too by looking at the 'related' option next to the asx code

http://markets.theage.com.au/apps/qt/quote.ac?code=GBG

cheers pommieG - bit bigger than FWL!

56GSA......... bugger theage, how about the latest company Appendix 3B lodged with the ASX?????

In accordance with the EPS standard, at a market price of $1.20, the answer is 451,545,933......

Not that it really matters in my opinion, 1.43 Bil tonnes at 36.3% Fe with a 40 + year mine life - it could support a much higher market cap, even fully diluted.....

I have this one in my super fund and I will not sell until:

(a) It's bought out or;
(b) It's $10.00 per share!!!!

I'm not ramping, but this one has that kind of potential, obviously in my humble opinion. As always, DYOR!!!!!

Cheers

 

[Pommiegranite]

thanks 56gsa and Reece

I'm currently looking for a stock which is closer to production and has enough room for SP growth that in the next 3 years, so that it should return any capital that I lose from my junior exploration portfolio.

I think that makes sense

Anyways..I'm looking for an entry point on this stock i.e sub $1, but it keeps on going from strength to strength.

 

[Frankhalo]

Hey Pommie

In my personal opinion your entry point is now, GBG is very under cooked and has been for a very long time. I also believe, again my opinion as well, that August / Sept when the final BFS is released and the lead up to the report we will see GBG were it should be in comparsion to simliar Co's. As my friend put in bluntly, " Its one thing to find a **** load of Iron ore, it another thing to be able to dig it up and ship it" $2 - $3 dollars maybe, I hope, at the end of the day the public makes that call. I am looking foward to that first shipment into China in the very near future, but for now the BFS will need to come first.

Regards

Frank

 

[blacksheep]

I agree with Frank.

Price range at the moment is perfect for long-term investor. I learned in past week, there is investor from China is purchasing portion of the GBG share in the open market. Therefore, don't wait out for the pull back of share, it will only go up, "slowly".

 

[anglecare]

Just read a flash on Bloomberg.

Chinese Bao Steel is purchasing 10% of GBG. Bao replies No commet on the report.

 

[Frankhalo]

From memory Bao buying in was on the cards since Feb, I could be wrong I'll look into it more, I know they have a hand in FMG but not 100% on GBG. Regardless great start to the week, looks strong. Sixty minutes report last night did wonders to AGO too.

Regards

Frank

 

[the barry]

Another good announcement out. 62 percent increase in the muganda deposit. Looking good for the longterm with plenty more explotation potential coming up and the bfs to look forward to.

 

[bigdog]

Two ASX ann

09-07-2007 01:41 PM GBG 62% Upgrade in Mungada Hematite Resource to 22.8MT
http://www.asx.com.au/asx/statistics/showAnnouncementPDF.do?idsID=00737389
62% UPGRADE IN MUNGADA HEMATITE RESOURCE TO 22.8MT
KEY POINTS
• Substantial increase in hematite resource tonnage to 22.8 million tonnes.
• Resource quality improved to 61.9% Fe, 6.0% SiO2, 2.1% Al2O3, 0.09% P, 0.11% S and 3.1% LOI.
• 67% of the Resource classified as Indicated, totalling 15.3 million tonnes at 62.2% Fe.
• Metallurgical testwork programs demonstrate >60% lump ores available from Resources.
• Indicated Resource sufficient to support future production increases above the initial BFS production rate of 2mt/annum.

Gindalbie Metals Ltd (ASX: GBG) is pleased to announce a 62% increase in the mineral resource inventory for its Mungada Hematite Project in Western Australia’s Mid West region to 22.8 million tonnes at 61.9% Fe. The upgraded resource includes a substantial improvement in the resource quality and JORC classification, an increase in iron grade and reduction in contaminants.

MEDIA RELEASE
09-07-2007 01:52 PM GBG Gindalbie Mungada Hematite Project - 62% Resource Upgrade
http://www.asx.com.au/asx/statistics/showAnnouncementPDF.do?idsID=00737406

GINDALBIE SIGNIFICANTLY ENHANCES MUNGADA HEMATITE PROJECT WITH 62% RESOURCE UPGRADE
Western Australian iron ore group Gindalbie Metals Ltd (ASX: GBG) has further enhanced the start-up hematite phase of its planned iron ore operations in the Mid West region of Western Australia, today announcing a 62% increase in the resource for the Mungada Hematite Project to 22.8 million tonnes.

The upgraded resource estimate – which covers the first 10 hematite deposits to be covered by Gindalbie’s hematite resource development program – also features a significant improvement in resource quality to 61.9% Fe, 6.0% SiO2, 2.1% Al2O3, 0.09% P, 0.11% S and 3.1% LOI. This reflects a significant increase in iron grade and reduction in contaminants, as well as an improvement in the resource quality and JORC classification to Indicated and Inferred.

The upgrade has been achieved with the completion of substantial drilling programs and extensive metallurgical testwork over the past 12 months, and follows the initial Inferred Resource of 14.1 million tonnes announced for the first nine hematite deposits in January this year.

Significantly, approximately 67% of the resource has now been classified as Indicated, totalling 15.3 million tonnes at 62.2% Fe. This will underpin resource optimisation and open pit mine designs and estimation of Ore Reserves for the Mungada Hematite Project – with a high level of conversion to Ore Reserves expected from the Indicated Resources.

 

[stefoid]

Another good announcement out. 62 percent increase in the muganda deposit. Looking good for the longterm with plenty more explotation potential coming up and the bfs to look forward to.

this announcement seems to be driving the SP of ROY as well. Up 25% today for no other reason I can think of than the JV potential.

 

[Frankhalo]

Been a very good day, hope all you guys did well, $1.375 up 17.5 cents in the course of a day is a great result. If it finishes the month @ $1.50 August will be sweet, hopefully then the charts will point 5 degrees north and it will be smiles all round

 

[kevien]

today's performance is very encouraging. Also I found other iron ore stocks are also increasing a lot. like AGO, which even increased more than GBG.
I wonder if it is because the related commodity price has increase today.
Cheers.

 

[the barry]

today's performance is very encouraging. Also I found other iron ore stocks are also increasing a lot. like AGO, which even increased more than GBG.
I wonder if it is because the related commodity price has increase today.
Cheers.

I think a lot had to do with the exposure last night on 60 minutes. The extra announcement today was just a bonus. Will be interesting to watch how this one trends till the bfs comes out in august.