GBG 0.00% 2.9¢ gindalbie metals ltd

director appointment, page-4

  1. 369 Posts.
    They better! But even at the prices before Vales 65% GBG is stupidly undervalued. Remember this article after their BFS? Drives me mad when so many crap stocks double, triple their share price in 1 week on hot hair with a completely underjustified market cap.

    DJ MARKET TALK: Melewar May Buck Trend, Rise; TA Tips MYR2.70 Tgt



    0101 GMT [Dow Jones] Melewar Industrial Group (3778.KU) may buck broad market trend and

    extend gains, possibly test July 16 peak of MYR1.82; 14.6%-owned Australian mining

    concern Gindalbie (GBG.AU) completed placement of 65 million shares, or 12.78%, with

    China's largest iron ore and steel producer Anshan Steel for A$39 million, raising

    funds to further develop its Karara and Mungada mining projects. TA Securities analyst

    Kamarulzaman Hassan says based on Bankable Feasibility Studies announced to ASX, the

    Hematite net present value, or NPV, is estimated at A$79.6 million, while Magnetite

    operation NPV is A$2.25 billion. "This would translate into an NPV of A$5.63 per

    Gindalbie share as compared to current price of A$1.82," he adds. Even at

    A$1.82/share, Melewar's investment in Gindalbie alone is worth more than its entire

    market cap in Malaysia. Keeps Buy rating on Melewar with MYR2.70 target price. Shares

    ended +9.8% at MYR1.68 yesterday. (VGB)



    Contact us in Singapore. 65 64154 140;

    [email protected]



    (END) Dow Jones Newswires

    September 05, 2007 21:01 ET (01:01 GMT)

    Copyright (c) 2007 Dow Jones & Company, Inc.



    Thursday 06 September 2007 11:01:41:330 AEST

 
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