GBG 0.00% 2.9¢ gindalbie metals ltd

hold on owners those who are in (such as myself) go easy on the...

  1. 62 Posts.
    hold on owners those who are in (such as myself) go easy on the sell trigger, your probably less than a month off the biggest announcement gbg will ever make. Sure it could be a flop not worthy of persuing (highly doubt it when initial estimates range between 200 to 300mt). I beleive this share price only supports what was previously the reason they were trading in the high teens twenties and that being their gold prospects. Remember they are still doing drill tests at minjar for gold prospects and they have the mine facility at the ready unlike most small players should gold be their back up strategy. Not to mention the joint venture with newmont at Gossan Grove that once terms are negotiated should provide 18mths positive cashflows. In my opinion gbg was completely oversold, and yeah it was with good reason the market saw 6mths plus of downtime, meaning put your money elsewhere for a while, hopefully all those dirty with the stock are gone by now. It fell from 18 to 10 with 2 minor corrections in less than a couple of weeks, no reason why it cant go from 10 to 18 with a couple of minor corrections now. When it last traded at 18 we knew barely anything of the potential of the iron ore project but we did know gold was drying up, but still managed to hold in. You will be kicking yourself when scoping study is complete because its bound to ramp the share price, sure it might not hold the initial price rise but when it does decide to even out it will be alot higher than 13 to 15 cents as a market cap of 30 mil is way too cheap for this prospector and remember those inside have bigger stakes than you do and many of those on the inside were re-subscribing at 16cents prior to its downturn.
 
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