G.Jones made it clear Moondoong, I for one am happy with the reports today, Jones is a straight shooter and I have the alot of respect for the chap, many in the minning sector do as well.
Qoute from Jones below.
?All projects in Western Australia are currently subject to significant cost escalations and this situation is almost certainly going to get worse as the resources boom strengthens, pushing up the price of both labor and materials,? Gindalbie Chairman George Jones said today in a statement.
Gindalbie may have to sell as much as A$150 million of shares to help pay for a more expensive mine, Royal Bank of Scotland Group Plc said in a report. The company is studying an increase in capacity to 16 million tons a year from 10 million tons a year, Gindalbie said in a separate statement.
Gindalbie rose 6.8 percent to A$1.1015 at 1:32 p.m. Sydney time on the Australian stock exchange. RBS lifted its recommendation to ?buy? from ?hold? after a recent decline in the share price, analysts led by Todd Scott said yesterday in the report.
GBG Price at posting:
$1.01 Sentiment: Buy Disclosure: Held
