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Couple of times over the past weeks there has been a significant rise in the price only to see it drop back down to 16 cents again. However the quarter report should be out soon and we should get a update on the exploration at Bobby McGee's which I expect to be positive. The price should rise again but instead of dropping back it should continue on to the mid 20's.
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Hi forecast been watching for a while and since the bounce off 14c there have been a few days when good buyers come in,then it pulls back a bit(but still holds part of the gain).


They leave it for a day or two and then buyers back again,so looks like someone is picking a few up,POG been doing well which is good as they are not hedged,once through 18c next target should be 22.5.


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  • 3 weeks later...

Good deal for GBG today,but not much market interest yet (price dropping by the looks of it).


Gossan Hill (2.1 Moz silver, 70,000 gold) is a small oxide resource that should provide some handy mill feed and cash flow covering the period from late '04 to mid '06. One would expect exploration/feasability studies on Bobby Mcgee and Silverstone to also come in with small but useful reserves during this period.


I like the interesting comment that:


Newmont has indicated that it will work with the Company to identify other opportunities that may be sutiable for developement by Gindalbie"


I wonder if GBG would be able to pull off the purchase of the Golden Grove Mine?





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GBG Long Term looking good.


Take advantage of the weak metals mining sector for long term positions. GBG has some excellent gold potential and now with yesterday's ASX announcement, also moves into silver potential. Gold and silver are a bit weak at the moment which offers an excellent time to buy stocks with good long term upside. Remember buy into weakness and sell into strength. GBG also has the support of Newmont for other opportunities.


Lazy Haggis


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In reply to: forecast on Friday 09/07/04 11:19am


I can tell you what I believe is going on, and it looks very exciting.


Right now there is increasing Asian demand for iron ore. Remember how PMM ran strongly on its prospective iron ore development back in the 1990s?


GBG is looking to develop an iron ore mine in Australia with a minimum 20 year life span. It has a huge iron ore resource, based upon drilling by Western Mining in the 1960s and early 1970s.


As part of that preliminary study WMC drilled a number of percussion holes and 3 deep diamond holes up to 300m apart and conducted preliminary test work on the collected samples. WMC used a figure of 180 million tonnes of magnetite at 35% iron for the Mt Karara study.


Aerial magnetic images and site reconnaissance of Mt Karara indicated that the iron bearing formation extends for over 4km. The grades, (35% iron) and widths (in excess of 100m) are excellent. In addition there appears to be substantial upside with exploration based on the WMC files. Comments by WMC in the open file data that Mt Karara was suitable for beneficiation are also very positive.


GBG has reported that there are discussions with a number of groups including companies who may be interested in getting involved combined with offtake agreements. Note also the recent new Asian major shareholder.


GBG has had a history of sharp upward share price movements since listing about 10 years ago. These were associated with short mine life gold deposits which were successfully developed and mined.


This time GBG is looking at something big, with a long term life span. Based on its past history of successful development I believe it will succeed. I suspect GBG has many hundreds of per cent upside in the price and when it gets going this time will not fall back to seven cents. Check it out yourself.

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