Look at AGO and MGX race ahead as the all ords are up 60 points. Old GBG is down another 5% and approaching 52 week lows again. Brilliant work by management by firstly stating everything was on budget at the beginning of the year, then issuing a small presentation on their website about a cost blow out 2 weeks later. Disgraceful.
Now we have the blowout amount confirmed 4+ months later and are told that we have the biggest equity raising in GBG's history when the shareprice is at 52+ week lows. Why the hell didn't they raise some funds when this blowout was leaked? Utterly useless. I don't think I'll be holding this past initial production, I can only imagine the next raising for the expansion will be at lows again.
GBG Price at posting:
79.3¢ Sentiment: Hold Disclosure: Held
