After the most recent run up to 1.80, everyone was saying oh my god, we'll see $2 + in no time...
I always thought it was ridiculous that it was valued so high with no production and no official approval that would allow it to even move to production. Yes, GBG has mega potential, but until some certainty is given, it is only potential. Even after granting of EPA approval, the major risks are massive cost overruns in project development (read rapidly increasing steel, concrete and energy costs) and the potential for a greater than expected easing in IO prices (and if you think that this can't happen, ask yourself if you were one of the people who wholeheartedly believed that the market recovery in April-May was the end of the credit crisis - I'm sure alot of the experts did...).
All of that said, I bought in in the 1.20's for the long term as I thought it represented a good risk-reward situation at these levels. And now, it is even better value!
In all honesty, I actually think if it heading below $1 then me and my partner's plans to buy an investment property might better be served by a big fat stake in GBG.
Because, in spite of all the unknowns, as everyone has pointed out out, when this one runs, it runs with a vengance! And once EPA approval comes, boy will this run.
Unless the entire world economy collapses into dust!
GBG Price at posting:
0.0¢ Sentiment: LT Buy Disclosure: Held
