I have been stating the same since the last couple of months...it is not that the world has woken up to GBG's potential now and rerating them....they have been on a steady incline since the last few months and have more than doubled now.....as and when the formalities get completed, it will keep on adding to the sp....
R'ber the time when FMG had not even sold one ton of ore and its price had hit dizzying tops (that had the effect of the general share market euphoria pre-GFC) the same will (or should) happen with GBG...as their target date of the first shipment will get nearer, the sp will not have 1 in front of it....not sure what the price will be then but it will be pretty decent for sure...
At that time, it will be a sure shot earner (depending on IO price at the time - which are expected to go up by the day) and big money will enter at the time....they will be in this only when the production is a certainty....don't be surprised to see some good announcements of XXX being a substantial holder at that time....they prefer to buy when things are 100% confirmed to reap the return on their investment as dividends and increase in sp due to that...till that time, it is investors like us who take the risk and buy in low...but we always make the mistake of selling way before the top too...so its our call now...
Looking forward to more of such fantastic rises in the next few quarters
GBG Price at posting:
$1.21 Sentiment: Buy Disclosure: Held
