Michael Wier sent me a bunch of the broker reports from April today.
Previous MS target was $0.80 which was on the lower end of the scale. Was as high as $1.40 (but a $2.00 NPV calc) from Credit Suisse. UBS and Bell Potter were also very bullish.
Basically we are at the mercy of management's ability to deliver the FOREX loan cover and commission Karara on time/within budget. Iron Ore movements are critical but outside management's control.
This better turn, thats all I can say!!! Myself/Family are in some serious losses!!! Large risk in holding, but if all is delivered as promised then this should in theory be a lot higher.
GBG Price at posting:
42.5¢ Sentiment: Buy Disclosure: Held
