very true...only a very brave man or a very foolish one would try and "predict" anything in the resource sector... 2 years ago, who would have thought the IO would be at this price in 2014/15? same goes for OIL - below 50% of what it was at the same time last year (And we have been talking of peak oil for years now - so technically the price of crude should have ONLY gone up every year - but is it going as per plan???)...same for Copper and coal and you name name it...
Having bought a parcel of GBG @ almost $1.10, this 2c sp is like a nightmare to me... I am sure this will never recover to the sp of 2008/9 but that again is a prediction on my part and we know we cannot predict anything nowadays....
all we need is to remain solvent for the next 1-1.5 years and HOPE/PRAY that the IO prices firm up above $100 as they were in 2013... probably we may see some recovery in the sp then and this great 30 year program will give us something to cheer...
I am not giving the management any leeway here - their past performance has been atrocious... let us hope that they can keep us alive for the next 4-6 quarters to have a fighting chance and this $2 billion monster can roar once again....
GBG Price at posting:
2.2¢ Sentiment: Buy Disclosure: Held
