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GBG announed on the 23rd October a new high grade gold discovery at the Bobby Magee prospect at Mt Mulgine. Any ideas when we can expect further details of when the intend to commence mining and prospective revenue from this new mine?

 

I Hold CFR COE GBGASC BQT AVL EQR

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Hi Forecast,

 

I'll be adventurous and say that GBG might be good value on the current weak price. I don't follow this one closely, but there does seem to be a lot of substance to GBG. Perhaps the only drawback is that the individual prospects do seem to be smallish <100,000 oz deposits.

 

We'll probably see some pretty interesting drill results in the New Year from Bobby Magee and a few others - this could see some lively trade.

 

One bit of trivia - GBG have advertised that their Anketell project is up for sale.

 

Yawn! Too long at the keyboard - time for snooze.

 

R/happy

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GBG wishes to expand exploration of their Minjar Gold project. The 1 for 3 issue will raise up to $7.3 million to allow them to achieve this objective. The issue price of 16 cents seems very attractive as the current price is 21 cents. Its hard to predict what will happen to the sp over the next week until the record date for the issue on the 15th Janaury. It may drop a small amount due to the diluation factor, however GBG are now debt free and have close there hedge book and long as the price of gold does not crash and as more exploration drilling results are annouced, I would expect the price to continue upwards.
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Hi people,

 

Sorry to trouble you with a dull request. I'm working horrendous hours on a film production and only have access to office computers that wont let me download acrobat reader. Could someone please be kind enough to paste the last couple of announcements here. As I hold these I'm sure I should know what's going on.

 

thanks alot. cw

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http://www.asxboard.com/html/emoticons/smile.gifhttp://www.asxboard.com/html/emoticons/smile.gifhttp://www.asxboard.com/html/emoticons/smile.gif It's a pleasure Cloudwalker....

 

STOCK EXCHANGE ANNOUNCEMENT

6 January 2004

NON RENOUNCEABLE PRO RATA ENTITLEMENT ISSUE

Gindalbie Gold NL (ASX Code: GBG) is pleased to announce a one (1) for three (3) nonrenounceable

pro rata Entitlement Issue to raise up to approximately $7.3 million (or $7.8 million if

all options currently on issue are exercised). Under the terms of the Issue, each shareholder

registered as at 5.00pm Western Standard Time (ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’â€Â¦ÃƒƒÂ¢Ãƒ¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…âہ“WSTÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’â€Å¡Ãƒƒâہ¡ÃƒÆ’‚ÂÂ) on Thursday 15 January 2004 (the Record

Date) will be entitled to subscribe for one new share for every three held at an issue price of 16 cents

per new share. Offer documents will be dispatched to shareholders on 20 January 2004 with the

offer closing at 5.00pm WST on 6 February 2004.

Gindalbie has produced over 100,000 ounces of gold over two years at its Minjar Gold project

located 500 kilometres north-east of Perth and is currently producing gold at a rate of 45,000 ounces

per annum. Since production commenced the Company has repaid all debt associated with the start

up of the project and has now closed out its hedge book obligations. The Company has also

increased its strategic landholdings at Minjar to over 2,400 square kilometres.

The funds raised from the Entitlement Issue will assist in financing an expanded exploration

program at the wholly owned Minjar Gold Project. In addition, it is anticipated that some funds will

be required to assist in the start up of the Gossan Hill joint venture, provide operational working

capital at Minjar and facilitate the review of new acquisition opportunities. The feasibility study into

the Gossan Hill joint venture with Newmont is scheduled to be completed in February 2004.

The immediate objective of the expanded exploration program is to increase existing reserves of

100% Gindalbie ore to over 12 months of mine life by drilling existing brownfields targets at

Silverstone South and Mt Mulgine. In addition, the Company is targeting a further 18 months of

reserves for treatment at the Minjar treatment plant from the Gossan Hill joint venture with

Newmont Golden Grove.

Extending the current mine life from known prospects at Minjar - including treatment of ore from

the Gossan Hill joint venture - to mid to late 2006 is expected to provide Gindalbie with sufficient

time to make new discoveries from its broader regional exploration program given the strategic

nature of its tenement holdings.

For more information regarding the Entitlement Issue please contact the Chief Financial Officer, Mr

Darren Gordon.

 

 

More to follow.....

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http://www.asxboard.com/html/emoticons/smile.gifhttp://www.asxboard.com/html/emoticons/smile.gifhttp://www.asxboard.com/html/emoticons/smile.gif GBG Announcements continue......

 

MEDIA RELEASE WEDNESDAY, 7 JANUARY 2004

GINDALBIE DELIVERS LAST GOLD INTO HEDGE BOOK

AND ANNOUNCES ENTITLEMENT ISSUE

FUNDS TO ESCALATE DRILL OUT OF ADDITIONAL GOLD RESOURCES AT MINJAR AND PROGRESS

GOSSAN HILL JOINT VENTURE WITH NEWMONT

Gindalbie Gold NL (ASX Code: GBG) has kicked off the new year on a positive note with the announcement

yesterday (Tuesday) of the delivery of the last ounce of gold into the CompanyÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¾Ãƒâہ¡ÃƒÆ’‚¢s hedge book allowing it to move

forward as an unhedged gold producer.

GindalbieÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¾Ãƒâہ¡ÃƒÆ’‚¢s Managing Director, Mr David McSweeney, said that, based on the current spot price for gold of

A$550, the company now expected to receive an additional A$50 per ounce for each ounce of gold sold into the

spot market.

At the same time the Company announced a non-renounceable pro-rata Entitlement Issue to raise up to

approximately $7.3 million (or $7.8 million if all options currently on issue are exercised) predominantly to

provide funding for an expanded exploration program, including the drill out of additional gold resources at the

Silverstone South deposit and in the Mt Mulgine western corridor area. In addition, Gindalbie will advance the

Gossan Hill joint venture with Newmont Mining Company Ltd where a feasibility study into the development of

the Gossan Hill oxide gold deposit is due for completion in February 2004.

The Entitlement Issue will enable shareholders on the CompanyÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¾Ãƒâہ¡ÃƒÆ’‚¢s register as at 5.00pm Western Standard Time

(WST) on Thursday 15 January 2004 to subscribe for one new share for every three held at an issue price of 16

cents per new share. Offer documents will be dispatched to shareholders on 20 January 2004 with the offer

closing at 5.00pm WST on Friday 6 February 2004.

Mr McSweeney said Gindalbie was entering a new era at its Minjar operations and funds from the Entitlement

Issue would enable it to more fully exploit the considerable exploration success already achieved by the

Company at a time when the outlook for gold was extremely positive.

ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’â€Â¦ÃƒƒÂ¢Ãƒ¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…âہ“Gindalbie can move forward as one of AustraliaÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¾Ãƒâہ¡ÃƒÆ’‚¢s few focused, unhedged gold plays with leverage to the rising

gold price, no debt and considerable upside potential from its advanced exploration targets,ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’â€Å¡Ãƒƒâہ¡ÃƒÆ’‚ Mr McSweeney

said.

ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’â€Â¦ÃƒƒÂ¢Ãƒ¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…âہ“The known high priority prospects at Silverstone South and Mt Mulgine are expected to extend the mine life

beyond 12 months though we are very confident that ongoing systematic exploration programs will lead to the

identification of new prospects to further extend the know reserves at Minjar. In addition, ore produced from the

Gossan Hill joint venture, should a positive development decision be made, is anticipated to provide an

additional 18 months of reserves for treatment through the Minjar plant,ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’â€Å¡Ãƒƒâہ¡ÃƒÆ’‚ he added.

- ENDS -

Released by: On behalf of:

Jan Hope / Nicholas Read Mr David McSweeney/Mr Darren Gordon

Jan Hope & Partners Managing Director/Chief Financial Officer

Telephone: (+61-8) 9388-1474 Telephone: (+61-8) 9480-8700

Web: www.gindalbie.com.au

 

 

PS. The other three announcements are more or less the same as the above two.

 

I hope it helps:)))

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