stockbrokers like gindalbie's upside, page-19

The business case was based on US 45 per tonne I think, FOB Geraldton, so they should be alright.
But expect cost and time blowouts on the construction of the mine plant and infrastructure (every project almost inevitably has this).
And remember they are no BHP or RIO with endless amounts of money to complete their projects.
Can see GBG having to tap the market, or the Chinese, for more money some time down the track to complete the project.
It's not a straight forward development, magnetite processing is new to Australia and there will be commissioning and design issues they will need to sort out.
Hard to rate the stock re price atm with so many unknowns.
All imho.