When I see photos of plant and equipment being constructed at the gbg site this gives me confidence that they are ticking the boxes. It is disappointing that targets are being missed in terms of budget and delivery times and now scope with the scale back to potentially Just 16mton for perhaps years before achieving their final goal of 30mil. The anticipated cash-flow from 2012 onwards will make this all worthwhile. When will the shares be rerated to account for this upcoming cash-flow is the big question. My guess is $1.50 to $2.00 by Xmas. Upcoming rights issue I think won,t be too bad maybe 1:3 at 70c to raise 200mill.
GBG Price at posting:
80.3¢ Sentiment: LT Buy Disclosure: Held
