The Investment Doctor
Long/short equity, value, debt, base metals

Gindalbie Metals - An Acquisition Target For AnSteel?


In this article I'll have a closer look at Gindalbie Metals (OTC:GDBGF), which is ramping up production at its multi-billion dollar Karara iron ore project in Australia. The company has been sliding from a high of $1.40 in early 2011 to a recent share price of just $0.125 (which still results in a market cap of approximately $185M thanks to the 1.5 billion outstanding shares) on increasing fears the company would be unable to get its massive project fully financed. As it struck a deal with AnSteel last month I think the necessary funding has been found and all the Karara project should reach its full output without any further need to raise capital.

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