GBG 0.00% 2.9¢ gindalbie metals ltd

The only reason we finally got the "facts" are that management...

  1. hws
    613 Posts.
    The only reason we finally got the "facts" are that management had no where else to turn, nothing to do with new faces. They dont have anymore parts of the plant to blame.

    We had already been informed that 7 out of 9 areas had been commissioned (i presumed that meant operating as designed) only had to fix up dewatering situation and we were fine. We now know that was rubbish - seems they must have made a typo or something - several times.

    According to the latest announcement they are getting rid of less coarse tailings than was expected, which I would assume meant they were left with more coarse tailings, meaning a higher proportion of coarse - but no this has caused there to be a higher proportion of fines - can anyone explain this to me.

    As for running at 65%Fe - not nameplate - but more important you are not getting the 20% premium on pricing which offset the additional processing costs.

    I have had some sympathy with this company knowing how difficult it is for a small company to continue to fund such a big developement, however now that I have realised they employed my nephews aged 8 and 10 to build the plant it all seems like a bad joke. Live and learn, but it cost a shitload.
 
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