real cost per ton , page-25

Hws, I disagree. GBG had an extremely attractice BFS that was released in 2007. Its NPV justified the SP, and GBG always travelled at a large discount to this.

Cost blow outs have since changed that. Significant cost blowouts. This also led to the market having 0 confidence in management and shareholders.

MMX's BFS was years later, and its $6+ shareprice was pre GFC, it never got close to that again. Not to mention part of the hype was on exploration, they expected to have 500mt+ of highgrade DSO. Turned out to be a complete dud.

albalad... I have blue chips...

GBG was risky, but when the share price is at 7 year lows and its suppose to be 'derisked' and 2 months from 10mtpa.... Well I am concerned. You should be too. My models indicate this is very cheap... BUT that doesn't take into account additional working capital and or a final CAPEX blowout. Thats information that none of us are privy to. The low shareprice just smells like one of those 2 issues.