directors -buying -to calm irrate lt holders, page-19

I have said in one of my previous posts that its as important what a person leaves out of his report as what they put in.Two directors recently bought 250,000 shares($60.000) and 100,000 ($25,000). THIS IS SMALL CHANGE BOYS!.

1)Given that they ABSOLUTLY know the true state of affairs and that unless they are intending to buy more shares at a later date....DO NOT HAVE ABSOLUTE FAITH in what they say.

"Gindalbie shareholders can be assured that there is solid value in the Karara Project, and that 2013 is set to be a truly landmark year in the Company’s history as we complete the final steps to unlock this value."

George Jones Chairman. Well we will see if he loads up more, I would if I was him and the other directors. They have laid everything on the table....so can't be accused of insider trading?

2)The money they raised may not be sufficient for the future needs outlined in AGM and they considered a retail raising....

"The structure of the capital raising – a fully underwritten share placement to institutional investors – provided the Company with the greatest degree of certainty in relation to the amount of capital to be raised. The Board has been giving consideration to a Share Purchase Plan to enable retail shareholders to buy shares at the same price as those offered in the Institutional Placement. Unfortunately, given the shares recently have traded below the share placement issue price an SPP would be unlikely to be successful."

A) if there is no upside to share price.....NO RETAIL OFFER!
B)If there is upside .....RETAIL OFFER POSSIBLE!
C)if there is no upside to share price and they need money......NO MORE GBG!

3) they continually go on abut cost blow-outs and iron ore price volitility.
WHAT A LOAD OF CRAP.

A)The AUD$ has been at record highs, if they needed to source things overseas thats fine...but during construction as the dollar rose, this should have cost LESS not cause a blow-out.
B) The iron or volitility was of no concern when it dropped to $80..WE WEREN"T "SHIPPING "any!.
c) The Labour costs were surely known as the wages were high due to other projects....but construction companies had fixed rate contracts in place.
d) Most steel was sourced from Aust.(60% I think) so $AUD had no effect on blow-out.
e) In buisness if there are time deleys caused...then contracts have a liquidated Clause that kicks in.
F) We might now be in danger about money since the ore we are selling because of the high AUD

So sorry about the long post...BUT I just don't buy the Cost BLOW-OUT STORY! But watch out they will be wanting more money soon.
One final thought as Quoted
" worse yet – if there were a negative event during the production ramp-up which then forced us back to the market at a time of even more intense pressure."
They may have been given some potential bad warning on the commissioning., Anyone want to take a bet that some bad news is comming???