We're all being tarred by the same brush in regards to iron ore producers.Time will tell if GBG is the outstanding company! I'm thinking of increasing my holding....but damn its scary. I did some real simple maths and came up with GBG share of profits from joint venture of $5mill /month(assuming 2mill ton ore shipped per year).However if things ramp up to the 8or 16 mill tons as forecast ....then real big dollars are on the books.
(Does anyone want to confirm/counter the sum?)
We are probably at the lows of GBG price cycle and unless management is hiding things or there is a big global SHOCK... The only way is sideways or up.
I'm hesitant to make a call but I'd say there might be a 10% rise in the next week or so with some consolidation coming , with then a possible pull back in Late December.
"HOWEVER DO NOT USE MY INFO AS A INVESTMENT INDICATION!!"
I will only buy now if the price stabilises at 30~31 cents ...then sell some of those holdings at the 10 % I predict.
Good luck to all
Confused
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- could explain some of it
We're all being tarred by the same brush in regards to iron ore...
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