GBG Gindalbie Metals Ltd.

[macduffy]

I mentioned GBG in another connection this morning. As an emerging, significant iron ore producer it deserves its own thread. By coincidence, construction on its Karara project began officially today although preliminary work has been proceeding since final environmental approvals were received a few weeks ago.

;)

http://www.asx.com.au/asxpdf/20091130/pdf/31mdzbxtjkqpsz.pdf

Disc: Holding GBG.

[Dr_Who]

Thanks Mcduffy.

I ve also been keeping an eye on this one for ages. Do you have a valuation on GBG?

[macduffy]

Thanks Mcduffy.

I ve also been keeping an eye on this one for ages. Do you have a valuation on GBG?

RBS apparently have recently done a report on GBG but I havn't been able to access it.

Perhaps the best indication of value is still the 85cps that Ansteel paid about 12 months ago to increase their stake to 36%. That price was based on a report by Deloittes that arrived at a fair value in the range of 71c - $1.00.

[mark100]

UBS reckon $1.30 from memory. I have a few

[macduffy]

Almost a year since the last post on GBG so time for an update.

SP has increased about 50% since then to close at $1.26 yesterday, albeit with some pretty big fluctuations along the way.

The project is progressing according to plan with first ore to be mined mid 2011.

Here's the Chairman's address from the recent AGM.

http://www.asx.com.au/asxpdf/20101110/pdf/31tsk929qbbdd5.pdf

I'm holding.

[macduffy]

Here's today's corporate presentation.

http://asx.com.au/asxpdf/20110131/pdf/41wgpmw6r5jb5d.pdf

Note the various brokers' recommendations.

I hold a few.

[Toulouse - Luzern]

GBG is one on my picks in the ASX stock picking contest.
It is the only one of my 5 x picks at water level so far ...
The other 4 are under water just now...
With the AFC (Australian Flood Crisis) and EFC (Egyptian Financial Crisis) GBG is back at the 17 Dec 2010 price at 132.5.
GBG has been as high as 148.5.
The development looks to have upside ...