GBG 0.00% 2.9¢ gindalbie metals ltd

pros buying at 28c?, page-27

  1. 220 Posts.
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    Hi Wilto
    I bought 250,000 GBG around 33c on the news early January of the first shipment of magnatite.
    Since then I have read in company presentations that the ramp up to 8 million tons pa of magnatite was due to be completed in April, and that seemed pretty definite.
    In the February magazine article:
    Mr Weir said.
    “Gindalbie, and the magnetite industry generally, has had no shortage of naysayers over the years, and I look forward to seeing those critics silenced as we ramp up to [stage one] full-scale production over the next six months.”
    Unless the magazine interview was conducted before December, it would seem he has pushed the time-line out to around June. Then again, perhaps he was just being cautious.
    What I would like to know is: does this company have a history of setting what seems definite short term targets and then failing to deliver?
    Jim the cantankerous
    (a grumpy old retiree who got done big time in the GFC and is slowly making a comeback)
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