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Still no SEC news----those 21 days must be in bizarro world just like the whole GBG BS
PICKUP # 1 is a 20-acre active mining claim in Elko, Nevada owned by Great Basin Gold Incorporated and Hillcrest Mining Company. It is a lode claim with a $155 maintenance fee.
Ownership and use of this claim is overseen by the Bureau of Land Management's Tuscarora Field Office under the serial number NMC617440. The last action for this claim occurred on July 27, 2016. Information on the claim was last updated on August 2, 2016.
Who and why does anyone short a sub-penny GBGLF stock...?
http://otcshortreport.com/index.php?index=GBGLF
Since the SEC has started their investigation the number of shorts has severely been reduced? Why?
South Africa just dodged a recession. The last thing it needs is another shock.
Losing the man overseeing the economy would be one such blow and the risk of that happening just jumped.
Prosecutors on Tuesday charged Finance Minister Pravin Gordhan with fraud, news that went down badly with investors.
2015 Net-Worth for Congressman Ron Paul
Why has Ron Paul not dumped his... GBGLF shares?
http://www.davemanuel.com/pols/ron-paul/
United States of America
Quote:
"...No matter who wins the election or even if there is a hike in interest rates, gold will still go up, says Ron Paul who was interviewed by CNBC on Friday.
Paul conceded that interest rates are probably heading up, which should dampen gold prices. Polls also point to Hillary Clinton win, which may reduce market uncertainty. But a healthy economy "will be fundamentally good for gold" over the long term, says Paul.
Paul lauded gold as the best performer over the long term. Low interest rates are also driving savers to gold.
"The laws of economics are more powerful than all the politicians and all the central bankers."
Regarding the presidential race, Paul is not concerned if Trump prevails since he doesn't see a "whole lot of difference between the two parties."
"Nothing really changes no matter who wins. Governments keep growing, deficits keep growing. The Fed keeps printing more money so I don't expect a lot to change."
"I look at what the Fed is doing. History is on my side. When you print money and you have a fiat currency, it all becomes political; deficits are looked at as benefits. Believe me, gold prices will go up."
Paul cautioned that the election is still up for grabs.
"People are so disgusted with the two candidates," says Paul. "It depends upon how many people stay home."
http://www.mining.com/believe-me-gold-prices-will-go-up-says-ron-paul/
https://www.sec.gov/Archives/edgar/data/865492/000086549203000016/0000865492-03-000016.txt
The facts show that he should be holding a very large chunk of these GBGLF shares!
2015 Net Worth for Congressman Ron Paul
Why has Ron Paul not dumped his... GBGLF shares?
http://www.davemanuel.com/pols/ron-paul/
United States of America
No matter who wins the election or even if there is a hike in interest rates, gold will still go up, says Ron Paul who was interviewed by CNBC on Friday.
Paul conceded that interest rates are probably heading up, which should dampen gold prices. Polls also point to Hillary Clinton win, which may reduce market uncertainty. But a healthy economy "will be fundamentally good for gold" over the long term, says Paul.
Paul lauded gold as the best performer over the long term. Low interest rates are also driving savers to gold.
"The laws of economics are more powerful than all the politicians and all the central bankers."
Regarding the presidential race, Paul is not concerned if Trump prevails since he doesn't see a "whole lot of difference between the two parties."
"Nothing really changes no matter who wins. Governments keep growing, deficits keep growing. The Fed keeps printing more money so I don't expect a lot to change."
"I look at what the Fed is doing. History is on my side. When you print money and you have a fiat currency, it all becomes political; deficits are looked at as benefits. Believe me, gold prices will go up."
Paul cautioned that the election is still up for grabs.
"People are so disgusted with the two candidates," says Paul. "It depends upon how many people stay home."
“If the economy is truly getting better, that would be better for gold long-term,” said Paul.
“Short-term gold has taken a big hit and it could very well go down more, but it’s still up 10 percent from a year ago.”
For more on former U.S. Representative Ron Paul’s take on the elections and markets see
How's GBG doing...is he still a shareholder.
GBG
Deutsche Bank shares dropped in early trade on reports that its boss failed to reach a swift deal with the US over lowering a $14bn (£11.3bn) fine.
The lender was the biggest faller on Germany's main stock market before paring back the losses.
Talks between chief executive John Cryan and the US Department of Justice ended without agreement at the weekend, according to reports.
The bank has been under intense pressure over the size of the fine.
Mr Cryan was in the US for the International Monetary Fund and World Bank's autumn meetings.
Some investors had hoped that while he was there, he might negotiate down a settlement for the bank's mis-selling of mortgage-backed securities.
Great Basin Gold Ltd. (Great Basin) is a mining company. The Company is engaged in the acquisition, exploration and development of precious metal deposits. The Company has two projects, the Hollister gold project, which was located on the Carlin Trend goldfield in Nevada, United States (the Hollister Property) and the Burnstone gold mine, which is located in the Witwatersrand Basin goldfields in South Africa (the Burnstone Property). The Burnstone Property is located approximately 80 kilometers southeast of Johannesburg, near the town of Balfour in the Mpumalanga Province of South Africa. In addition to its two primary projects, it holds interests in early stage mineral prospects known as the Tsetsera Property in Mozambique and properties in Tanzania. The Hollister Property consists of a total of 950 unpatented, federal mining claims, covering over 69 square kilometers. During the year ended December 31, 2011, the Company disposed of its interest in Kurils Resources.
Sibanye has gobbled up Wits Gold, with a number of Free State exploration projects near its Beatrix mine, and giving it future growth in that area. It swallowed Great Basin Gold’s troubled Burnstone mine and is forging ahead with a traditional, carefully considered mining plan to bring the failed mine to account. All this growth comes with promises of strong dividend payments to shareholders.
http://www.sharenet.co.za/v3/quickshare.php?scode=GBG
Great Basin Gold is a mining company engaged in the exploration and development of gold properties. The company is currently focused on its two emerging mines with a total resource base of 23.4M oz, in the world's two richest gold regions. The Hollister gold mine is located on the Carlin Trend in Nevada, USA and the Burnstone gold mine, is located in the Witwatersrand Basin goldfield of South Africa.
GBGLF GBG Great Basin Gold shareholders should be properly compensated prior to the lawsuit and for any frauds committed by the previous management ...
http://www.stockwatch.com/News/Item.aspx?bid=Z-U:GBGLF-2408750&symbol=GBGLF®ion=U
http://www.mcmillan.ca/LindaRocca
https://home.kpmg.com/content/dam/kpmg/pdf/2016/05/oral-reasons-for-judgment.pdf
How much longer should we expect these charades to last....I'm wondering what the SEC judge is doing about the judgment---will we be privy to some of the information that led to the decisions.
Go lawsuit Go against former GBG management, nothing like the rotten smell of a lawsuit to tarnish a "squeaky clean reputation".
GBG shareholders matter.
German Finance Minister Wolfgang Schaeuble said on Saturday that there has been too much talk about the fortunes of Deutsche Bank.... after the US government said it would levy a $14 billion dollar fine on the bank.
The penalty, lodged against Germany's largest lender by the U.S. Justice Department to settle charges it missold mortgage-backed securities, has raised questions about the bank's health.
Deutsche Bank has been struggling to overhaul its business model that is built around trading activities that have become much less lucrative under new regulation enacted since the 2008-2009 financial crisis.
Schaeuble has refused to comment on Deutsche Bank but other European officials attending meetings of the International Monetary Fund and World Bank in Washington this week have said the bank is solvent, while acknowledging broader problems in Europe's banking sector.
For the past three months, gold traded in a range of $1,310/oz-$1,370/oz. In the early hours of October 4, prices started consolidating near the lower end of the range. This was driven by slightly better-than-expected economic news in the US and recent bullish commentary by some of the Fed’s FOMC members. The media also reported that the ECB may look to scale back its €10 billion monthly bond purchase program.
A fall in demand can be seen from the fact that in the first nine months of 2016, imports slumped by 50 percent from a year ago to 268.9 tonnes, according to GFMS -a consultancy, data report.
According to the World Gold Council, consumers and investors may wait for prices to decline further, as many have been waiting for a price pull-back before entering the market. The third quarter of 2015 served as a good example when a 7 percent decline in the gold price triggered a sharp increase in demand for jewellery and bars and coins.
The price correction also comes at a good time for consumers. With a good monsoon, the upcoming wedding season and Diwali and Dhanteras festivals, demand could pick up after a subdued activity year-to-date.
Mr. Dombrowski brings expertise across a wide range of industries, including energy, telecommunications, financial services, transportation, real estate and entertainment. Clients have included: SIRVA, SLI, Allegheny Energy, VecTour, APW, Verestar, Great Basin Gold, Oxford Resources, OW Bunker, Horizon Lines, Maritime Equity Partners, Marchon Eyeware and the Unsecured Creditors Committee of Kodak.
Where's the volume and the SEC answers.......
GBG
Eric Sprott Announces Holdings in Kerr Mines
TORONTO, ONTARIO--(Marketwired - Oct. 3, 2016) - Eric Sprott announces that he holds directly and indirectly (through his holding company, 2176423 Ontario Ltd. ("2176423")) 18,105,500 common shares ("Shares") and 5,000,000 common share purchase warrants ("Warrants") of Kerr Mines Inc. ("Kerr Mines"), representing approximately 9.5% of the outstanding Shares on a non-diluted basis and approximately 11.8% on a partially diluted basis assuming exercise of the Warrants.
On October 1, 2016, Warrants totalling 4,333,334 with an exercise price of $0.39 per Share held by 2176423 expired (representing a decrease in holdings of approximately 1.9% of the outstanding Shares on a partially diluted basis). Prior to the expiry, Mr. Sprott held directly and indirectly (through 2176423) 18,105,500 Shares and 9,333,334 Warrants of Kerr Mines, representing approximately 9.5% of the outstanding Shares on a non-diluted basis and approximately 13.7% on a partially diluted basis assuming exercise of the Warrants.
The Shares and Warrants held directly and indirectly by Mr. Sprott are for investment purposes. Mr. Sprott has a long-term view of the investment and may acquire additional Shares either on the open market or through private acquisitions or sell the Shares either on the open market or through private dispositions in the future depending on market conditions, reformulation of plans and/or other relevant factors. Due to this expiry of Warrants and Kerr Mines' treasury issuances of shares subsequent to the filing of the last early warning report dated July 22, 2016, a copy of 2176423's updated early warning report will appear on the Kerr Mines' profile on SEDAR at www.sedar.com and may also be obtained by contacting Mr. Sprott at (416) 362-7172.
CONTACT INFORMATION
Eric Sprott
(416) 362-7172
200 Bay Street, Suite 2600
Royal Bank Plaza, South Tower
Toronto, Ontario M5J 2J2
Honestly, I cannot understand WHY the SEC has not immediately revoked these shares from all North American exchanges. If there goal is NOT to revoke them and send them into default; there is only one other direction these shares can possibly take ...
If by mid-October these pathetic shares are still trading... They are a buy IMO
https://www.sec.gov/about/whatwedo.shtml
The mission of the U.S. Securities and Exchange Commission is to protect investors, maintain fair, orderly, and efficient markets, and facilitate capital formation.
As more and more first-time investors turn to the markets to help secure their futures, pay for homes, and send children to college, our investor protection mission is more compelling than ever.
As our nation's securities exchanges mature into global for-profit competitors, there is even greater need for sound market regulation.
And the common interest of all Americans in a growing economy that produces jobs, improves our standard of living, and protects the value of our savings means that all of the SEC's actions must be taken with an eye toward promoting the capital formation that is necessary to sustain economic growth.
Something doesn't smell quite right, I think that Froneman fellow from "FIB"anye isn't exactly being up"frone" with GBG shareholders.....
All these GBG "managementsters" need those "quaint" reputations tarnished with some lawsuits. The DIPs in all of this has been the share price, what exact monetary value has been placed in Southgold remains a mystery.
Ironic how Froneman wants the SA govt changed, to what purpose exactly, more mining camouflaging of assets?
And how about that SEC judgement....when are we going to get news about that?
And still no trading volume, GBG is worse than the Donald's hair. At least on TV he appears to have lots of hair,lol, and GBG looks like Hill's beaten dog.
Where's the VOLUME...
'US $350,000,000 Revolving Credit Facility...'
https://www.sec.gov/Archives/edgar/data/1561694/000120561315000110/sibanye_release.htm
Nagoya, WHY would Credit Suisse be a LEAD ARRANGER to Sibanye Gold if they had lost millions via Great Basin Gold and the Burnstone mine...?
Bank Of America, HSBC Bank plc, Merrill Lynch International Ltd., RBC Capital Markets, Citi,
Bank of Montreal, Goldman Sachs Bank USA etc...
Neal "Froneman says Zuma must quit"
TORONTO – South African President Jacob Zuma “has to go,” with poor governance deterring prospective investors, according to the head of Sibanye Gold, the biggest producer of bullion in the country.
“Any solid investor, any solid company is founded on good governance and what we have in South Africa at the moment is very poor governance, from a government point of view,” Sibanye CEO Neal Froneman said in an interview on Monday from the Denver Gold Forum in Colorado Springs.
He joins Sipho Pityana, chairperson of AngloGold Ashanti and a prominent African National Congress member, in calling for Zuma to step down. Pityana last week said Zuma had “no integrity” and his actions are putting South Africa at risk of a credit-rating downgrade to junk.
Zuma, 74, has spooked investors this year by sparring with Finance Minister Pravin Gordhan for control of the Treasury, tax collection agency and state companies, while in March the nation’s top court said the president violated the constitution for refusing to repay taxpayer money spent on his private home.
Zuma spokesperson Bongani Ngqulunga didn’t immediately comment on Froneman’s remarks.
Deutsche Bank AG was dealt a fresh blow on Saturday when an Italian court charged the company, an employee and five former executives for colluding with Banca Monte dei Paschi di Siena SpA to falsify the Italian lender’s accounts in 2008.
Michele Faissola, who oversaw global rates at the time, and Ivor Dunbar, former co-head of global capital markets, were among those indicted in a Milan court. Both were top deputies to former Deutsche Bank co-chief executive officer Anshu Jain, and both have left the company.
Deutsche Bank has been trying to reassure investors and clients that it can withstand the financial strain of mounting legal bills. A U.S. Department of Justice request last month that the lender pay $14 billion to settle a case tied to mortgage-backed securities rattled confidence and drove its shares to record lows. CEO John Cryan had to defend the bank’s resilience after some hedge funds cut back their cash balances.
Six current and former managers of Deutsche Bank AG -- including ex-asset and wealth management head Michele Faissola -- along with former executives at Nomura Holdings Inc. and Banca Monte dei Paschi di Siena SpA were charged in Milan for colluding to falsify the accounts of Italy’s third-biggest bank and manipulate the market.
A judge in Milan approved a request by prosecutors to try 13 bankers on charges over separate derivative transactions Paschi arranged with the securities firms, said a lawyer involved in the case, who attended the closed-door hearing Saturday, where the decision was announced.
Choosing between competing DIP lenders
Where more than one lender puts forward a DIP financing proposal, the court will have the task of determining which proposal should be accepted and on what terms the financing should be provided. When faced with such a situation, the Court in Great Basin Gold Ltd. (Re), 2012 BCSC 1773, held that the factors in section 11.2(4) of the CCAA should be applied. In the analysis, special emphasis was placed on which proposal would most likely enhance the prospects of a viable compromise or arrangement, whether any creditor would be materially prejudiced as a result of the security or charge, and the opinion of the monitor. In this case, one proposing party alleged that the other party’s proposal would cause it to be prejudiced. The court reasoned that while it is required to consider prejudice to other creditors, the prejudice must be weighed against the benefits of obtaining the financing.
NO GBGLF volume today...Concerning! Hmmmm SEC? EOM!
Where's the volume.....and how about that SEC judgment, on vacation?
I hope the lawsuit gets some traction, nothing better than some mudslinging to some seemingly clean legacies....
GBG
GBGLF is still-trading... A BUY? UP 56%-today...
It might be time to purchase...
If the SEC does not put the brakes on these shares... ? Hmmm...
It is ORDERED that, pursuant to Section 12(j) of the Securities Exchange Act of 1934, the registration of each class of registered securities of Respondent Great Basin Gold Limited is REVOKED.
This initial decision shall become effective in accordance with and subject to the provisions of Commission Rule of Practice 360, 17 C.F.R. § 201.360. Pursuant to that rule, a party may file a petition for review of this initial decision within twenty-one days after service of the initial decision. A party may also file a motion to correct a manifest error of fact within ten days of the initial decision, pursuant to Rule 111, 17 C.F.R. § 201.111(h). If a motion to correct a manifest error of fact is filed by a party, then a party shall have twenty-one days to file a petition for review from the date of the undersigned’s order resolving such motion to correct a manifest error of fact.
This initial decision will not become final until the Commission enters an order of finality. The Commission will enter an order of finality unless a party files a petition for review or a motion to correct a manifest error of fact or the Commission determines on its own initiative to review the initial decision as to a party. If any of these events occur, the initial decision shall not become final as to that party.
A respondent may move to set aside a default. Rule 155(b) permits the Commission, at any time, to set aside a default for good cause, in order to prevent injustice and on such conditions as may be appropriate. 17 C.F.R. § 201.155(b). A motion to set aside a default shall be made within a reasonable time, state the reasons for the failure to appear or defend, and specify the nature of the proposed defense in the proceeding. Id.
____________________________ Jason S. Patil
Administrative Law Judge
Great Basin Gold Ltd. (Great Basin) is a mining company. The Company is engaged in the acquisition, exploration and development of precious metal deposits. The Company has two projects, the Hollister gold project, which was located on the Carlin Trend goldfield in Nevada, United States (the Hollister Property) and the Burnstone gold mine, which is located in the Witwatersrand Basin goldfields in South Africa (the Burnstone Property). The Burnstone Property is located approximately 80 kilometers southeast of Johannesburg, near the town of Balfour in the Mpumalanga Province of South Africa. In addition to its two primary projects, it holds interests in early stage mineral prospects known as the Tsetsera Property in Mozambique and properties in Tanzania. The Hollister Property consists of a total of 950 unpatented, federal mining claims, covering over 69 square kilometers. During the year ended December 31, 2011, the Company disposed of its interest in Kurils Resources.
Acted for numerous mineral resource companies in connection with equity financings by way of prospectus, both within Canada and Canada-US including Great Basin Gold,...
Great Basin Gold Limited GBGLF & Morningstar
http://quotes.morningstar.com/stockq/analysis-report?&t=PINX:GBGLF®ion=usa&culture=en-US&version=RET&cur=&test=QuoteiFrame&e=eyJlbmMiOiJBMTI4R0NNIiwiYWxnIjoiUlNBLU9BRVAifQ.oxjNNayLv_YfnborR5xY8spQz62JYL1G1BELNNKaW4HIbLuJU92m7mdKUypE3hRTMkz79f5LYAyzWap2EAO3h25dEYli9KbRpN2FT3rmwcstB6yIqu-apCqSWuO0eaHnpWPznZkxhFvajfUgrXbhdFrU54i3HdzeT3_LOgI1qiE.Nvi7yHqyZ0vYXgsu.Pv0whTSytVIBqJjWf0nETgSZdxGZHHOt6uMB-QuTio4l9ozjwPluBWWavdGppSJkkoS--rOZkqtnY_tzGBca6S0flei6_PrpA6c9sXguYfBPB34X-Y1CB0LEOHbTjFSKgFj_sXL9zZvV2OwSPGIFsa-T4s2eeU5bBfJqySoDn5asTRSHKQh-gROyawT-PCe3OqjTF_1utIWIRRvUG8WXpT7DqxDBsXHnTLU0DWI.-WlwFlInQNGCL3YH8ETOCQ
Why is Morningstar taking any interest in Great Basin Gold?
http://frontstreetcapital.com/files/fundfiles_public/Flatiron_top_25.pdf
Even Front Street Capital is mentioning...
http://www.finanzen.net/anleihen/A1AWQF-Great-Basin-Gold-Anleihe
Class E Corporate Members
http://www.pdac.ca/members/membership/senior-corporate-members
- Counsel to certain unaffiliated holders of Great Basin Gold Ltd. with respect to senior convertible debentures in Great Basin Gold’s restructuring pursuant to the CCAA.
Nevada and South Africa
The Royal Bank of Canada will be https://www.sec.gov/Archives/edgar/data/865492/000106299309004088/exhibit99-1.htm
RBC Dominion Securities Inc., BMO Nesbitt Burns Inc., Raymond James Ltd. and Thomas Weisel Partners Canada Inc. (each an “Underwriter” and collectively the “Underwriters”) hereby severally, in respect of the percentages set forth in Section 8.1 of this Agreement, and not jointly, offer to purchase from Great Basin Gold Ltd. (the “Corporation”), upon and subject to the terms hereof, $110,000,000 principal amount of 8.0% senior unsecured convertible debentures (the “Convertible Debentures”) at a price of $1,000 per Convertible Debenture (the “Offering Price”) pursuant to this Agreement and in connection with a short form prospectus filed in the Qualifying Jurisdictions (as hereinafter defined) (the “Firm Offering”).
The Corporation and the Underwriters agree that any sales or purchases of the Convertible Debentures in the United States or to, or for the account or benefit of, a U.S. Person will be made in accordance with Schedule “G” attached hereto (which schedule is incorporated into and forms part of this Agreement). The Underwriters may, to the extent permitted by Schedule “G” hereto, designate persons to purchase Convertible Debentures directly from the Corporation in the United States as substituted purchasers (the “Substituted Purchasers”) and to the extent that Substituted Purchasers purchase at the Time of Closing, the obligations of the Underwriters to do so will be reduced by the number of Convertible Debentures purchased directly from the Corporation by Substituted Purchasers.
The Offering may also take place in the jurisdictions set out in section 2.8 hereof and such other jurisdictions as may be agreed upon by the Corporation and the Underwriters.
The Corporation has granted to the Underwriters an option (the “Over-Allotment Option”) to acquire additional Convertible Debentures (the “Additional Convertible Debentures”) at a price of $1,000 per Additional Convertible Debenture, up to an additional $16,500,000 aggregate principal amount of Convertible Debentures (that is up to 15% of the amount sold pursuant to the Firm Offering). The Over-Allotment Option is exercisable in whole or in part at any time up to 30 days after the Closing Date (as hereinafter defined). The offering of the Convertible Debentures and any Additional Convertible Debentures by the Corporation described in this Agreement is hereinafter referred to as the “Offering”.
The net proceeds of the Offering will be used by the Corporation as described in the Final Prospectus (as hereinafter defined) under the heading “Use of Proceeds”.
In consideration of the Underwriters’ services to be rendered in connection with the Offering, the Corporation shall pay, as directed by the Lead Underwriter (as hereinafter defined), for and on behalf of all of the Underwriters, a cash fee (the “Underwriters’ Fee”) in an amount equal to 4% of the gross proceeds received by the Corporation from the issue and sale of the Convertible Debentures and the Additional Convertible Debentures (collectively, the “Offered Securities”).
Credit Suisse entered the South African market in 2005 through a joint venture with Standard Bank for its cash equities business. Since then, we have established ourselves as one of the leading global firms in South Africa.
Now, through our local legal entity incorporated in January 2010, Credit Suisse Securities Johannesburg, and with the robust backing of the global Credit Suisse network, we deliver a full suite of exceptional investment banking products and services. We also have a private banking representative office in Johannesburg.
Ronald Thiessen, President and CEO of Northern Dynasty Minerals Ltd. (TSX Venture-NDM; OTC.BB-NDMLF) is pleased to announce the appointment of Mr. Walter T. Segsworth as a Director of Northern Dynasty. Mr. Segsworth is a well-known and respected member of the international mining industry. He was President, Chief Operating Officer and Director of Homestake Mining Company until recently when the company merged with Barrick Gold. Homestake's operations and projects were located in Canada, the United States, Australia, Chile and Argentina. During Mr. Segsworth's tenure, Homestake set a 125 year gold production record and the company's operating costs reached 25 year lows.
Prior to joining Homestake, Mr. Segsworth was President, CEO and Director of Westmin Resources Limited, which operated three mines in British Columbia, the Myra Falls and Premier underground mines and the Gibraltar open pit mine. Taseko Mines Limited, another company in the Hunter Dickinson group, currently owns Gibraltar. Westmin also developed the large-scale Lomas Bayas copper project in Chile. During the period of 1974-1990, Mr. Segsworth was part of Noranda Minerals Limited and was General Manager of the Central Canada Potash Mine in Saskatchewan, the Golden Giant Mine in Ontario and the Bell Copper Mine in British Columbia.
Mr. Segsworth is a past Director and Chairman of the Mining Associations of Canada and British Columbia, and was voted British Columbia Mining Industry Person of the Year in 1996. He is a member of the Canadian Institute of Mining, Metallurgy and Petroleum and until recently, was part of the Mining Curriculum Advisory Board of the Michigan Technological University, from which he earned his degree in Mining Engineering.
Northern Dynasty is focused on a rigorous program to advance the Pebble gold-copper-molybdenum project, located in southwestern Alaska. Following third party confirmation of a substantial mineral resource in the Pebble deposit in January 2004, the Pebble project began an important transition from exploration to mine planning and permitting, and Mr. Segsworth's extensive operational and financial experience will be of great assistance to the Company during development. The current C$34.5 million program encompasses comprehensive drilling to upgrade the Pebble resource to measured and indicated categories, baseline environmental and socioeconomic studies to support state and federal project permit applications, as well as site testing and engineering studies directed toward completion of a bankable feasibility study in 2005.
"...Great Basin Gold Ltd.'s former director, Walter Segsworth,
..."
https://www.pressreader.com/canada/stockwatch-daily/20160923/281509340663766
If GBG is on its last legs, the volume is lesser than it was before the SEC soon to be ruling.....If the ticker was worth next to nothing how come no one is willing to accept 0.002 than lose everything...
Things that make me wonder what is going on behind the secenes.
GBG....let the lawsuit take some of the shiny gleen off of the previous management team.
Panama Papers http://panama.data2www.com/o/12060829
GBG RUSAF GOLD LIMITED (formerly Rusaf Gold Limited)
http://panama.data2www.com/e/10124200
Boulder Investments Ltd Cyprus 100% (held through GBG Rusaf Gold Ltd.)
http://www.bloomberg.com/research/stocks/private/snapshot.asp?privcapId=236605696
https://www.sec.gov/Archives/edgar/data/865492/000106299312001092/exhibit99-5.htm
Sibanye Gold picked up the Burnstone gold mine from Wits Gold via the South African Court ordered Business Rescue of SouthGold/Burnstone/Great Basin Gold mine
http://www.sec.gov/Archives/edgar/data/1561694/000120561314000049/sibanye_osprey.htm
Sibanye Gold may have to honour these GBGLF shares as part of the Business Rescue and Burnstone was provided to Sibanye Gold for literally pennies on the dollar $o ... We shall see.. Very little information has been released and investors have had to hunt hard for info. We have been left in the dark...
http://www.polity.org.za/article/business-rescue-of-southgold-gives-mine-a-new-lease-on-life-2014-08-07
These GBGLF shares should have gone to zero several years ago and they have not ...
https://www.kpmg.com/Ca/en/services/Advisory/TransactionRestructuring/CreditorlinkSites/Great-Basin-Gold/Documents/Petition-to-the-Court.pdf
On a separate note, Sibanye may have wanted to Ring-Fence the debt and RISK of ReRamping Up the Burnstone and this along with the fact that if Burnstone goes bankrupt yet again ALL mining rights go directly back to the South African government...
https://www.mining-atlas.com/operation/Burnstone-Gold-Mine.php
President Zuma can dispose of Burnstone as he sees fit if Sibanye ....
http://www.miningweekly.com/article/successful-southgold-business-rescue-precedent-setting-lawyer-2014-07-03
http://cfcanada.fticonsulting.com/GBGL/
Sibanye Gold has stated that it will not ReRampUp the Burnstone 24 million AU OZ mine until late 2018...
If Burnstone trades via Sibanye shares = 0
If Sibanye trades it via GBGLF shares or at least must honour some of their value by 2019 because of the SA Business Rescue Plan = $$$$
Obviously this is a much more complex story so do some serious DD before you drop a dime...
HEROZ or Zeroz?
Cheer$,
Golden Polar Bear
PS we have been waiting years for proper news to no avail I m h o
Great Basin Gold Ltd
NEWS FEBRUARY 13, 2013
Shaking it up at Klondex
"...Last June Klondex Mines (KDX-T) replaced its board with a new slate of directors and in September hired Paul Huet as its chief executive, a mine engineer and expert in narrow vein gold mining best known for building and permitting Great Basin…"
Hollister Gold mine
http://www.klondexmines.com/assets/docs/denver_gold_forum_september_2016.pdf
Mr. Doolin is a 25-year veteran of the mining industry with substantial experience in the design and permitting of mining projects; extensive work in milling, metallurgy and assay operations and a vast knowledge in permitting and milling. He also brings years of experience successfully managing small and large teams on multiple projects. He served most recently with Great Basin Gold as the Esmeralda Mill Manager where he was responsible for all on-site operations. Mr. Doolin’s experience also includes tenures with McClelland Laboratories, Eagle Pilcher Minerals, GD Resources, Marigold Mining, Corona Gold, and Round Mountain Gold, all in Nevada gold country.
He earned his Bachelors of Science degrees in Metallurgical Engineering and Chemistry from Montana College of Mineral Science and Technology.
Accordingly, Respondent is ORDERED to SHOW CAUSE by no later than August 19, 2016, why the registration of its securities should not be revoked by default due to its failure to file an answer or otherwise defend this proceeding. If Respondent fails to respond to this order, it will be deemed in default and the registration of its securities will be revoked. OIP at 2; 17 C.F.R. §§ 201.155(a)(2), .220(f).
_______________________________ Jason S. Patil
Administrative Law Judge
"...Great Basin ex Segsworth fights Credit Suisse case
https://www.pressreader.com
Great Basin Gold Ltd.'s former director, Waltrer Segsworth has asked a judge to deny an attempt to force him into providing a deposition for a Nevada fraud case
Stockwatch ... By Mike Caswell ...."
Southgold business rescue completed
BUSINESS NEWS / 4 July 2014, 08:00am
Dineo Faku
Burnstone is 100 percent owned by Southgold, which was previously held by JSE- and Toronto-listed Great Basin Gold.
Great Basin Gold filed for business rescue at Southgold in September 2012. The company invested $500 million (R5.4 billion) to develop the mechanised mine, but went into liquidation after running into financial difficulties.
Wits Gold became the winning bidder for Southgold Exploration from the business rescue practitioner.
Sibanye Gold, South Africa’s second-largest gold producer, exercised its option to acquire Southgold and Burnstone last year after buying Wits Gold for $7.4m and taking on $177.3m in bank debt owed. Sibanye has plans to spend R1 billion to develop the ore body.
The business rescue process started 22 months ago and was completed on Monday.
“The completion of the business rescue is huge. The mine was facing liquidation, which could have resulted in a hole in the ground and some scrap metal around it, as all licences and rights lapse when a mine is liquidated. This would have been another Aurora empowerment controversy,” Van den Steen said.
UNITED STATES OF AMERICA
Before the
SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549
GREAT BASIN GOLD LIMITED INITIAL DECISION OF DEFAULT August 23, 2016
APPEARANCE: David S. Frye for the Division of Enforcement, Securities and Exchange Commission
BEFORE: Jason S. Patil, Administrative Law Judge
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https://www.sec.gov/litigation/admin/2016/34-78363.pdfGreat Basin Gold Limited
ABOUT THE COMPANY
Great Basin Gold Limited is an international mining company with two emerging mines in the world's richest gold regions: the Hollister Mine on the Carlin Trend in Nevada and the Burnstone Mine in the Witwatersrand Basin, South Africa. These assets, combined with exploration activities in Tanzania and Mozambique, make Great Basin Gold an exceptionally well positioned investment opportunity.
Burnstone Mine is the first greenfield operation to come online in the Witwatersrand Basin in 30 years, commencing production at a time of record high gold prices and increasing demand. The Hollister Property presents one of the highest-grade deposits entering production today, with prolific potential to increase resources through further exploration of the surrounding area. Lead by a multidisciplinary team of respected industry veterans, Great Basin Gold is poised to transition into a significant commercial producer with excellent growth possibilities.
Great Basin Gold Limited is an international mining company engaged in exploration, development and operation of high-quality gold properties, all while building shareholder value and sustainable communities. The company is currently focused on its two emerging flagship mines in the world's richest gold-producing regions, the Hollister gold mine and associated operations located on the Carlin Trend in Nevada, USA and the Burnstone gold mine located in the Witwatersrand Basin goldfield of South Africa. Together, these operations comprise a total resource base of 23.4M Au oz and 7.3M Au oz reserves.
Great Basin Gold is evolving into a leading mid-tier gold producer through a well-defined strategy of:
Great Basin Gold also has prospective exploration projects in both Mozambique and Tanzania.
Canadian Imperial Bank of Commerce
400 Burrard Street
Vancouver, British Columbia
Canada V6C 3A6
Computershare Trust Company of Canada
4th Floor, 510 Burrard Street
Vancouver, British Columbia
Canada V6C 3B9
McMillan LLP
Royal Centre, 1055 West Georgia St
Suite 1500, PO Box 11117
Vancouver, BC V6E 4N7
Canada
PricewaterhouseCoopers Inc
2 Eglin Road,Sunninghill 2157
Private Bag x36
Sunninghill 2157
South Africa
Great Basin Gold Limited, incorporated in Canada - Reg no: 436691
Registered & Operational Offices:
138 West Street, Sandton 2146, South Africa
1108-1030 West Georgia Street
Vancouver BC, Canada, V6E 2Y3
The Board of Directors of the Company has adopted these Corporate Governance Guidelines to assist the Board in the exercise of its responsibilities:
Corporate Governance Policies and Procedures Manual
JSE Annual Compliance Certificate 2011
NYSE Amex Corporate Governance Certification Form 2010
Shareholder's Rights Plan Agreement
Great Basin Gold is continuing to increase its resource base through focused exploration programs. Over and above continued activities at the Hollister and Burnstone properties, greenfields exploration is also being undertaken in Tanzania and Mozambique.
The Witwatersrand Basin deposits, such as that found on the Burnstone Property, generally represent gold concentrations, called placer deposits (or "reefs", in local mining terminology), hosted within coarse-grained sediments (conglomerates) deposited in braided stream channels on broad river plains. Economic gold concentrations commonly extend for several km down the dip, and for up to 50 km (30 mi) along strike of the sedimentary rock units. Gold occurs as detrital grains in nugget-like shapes and secondary (re-crystallized) grains, ranging in size between 0.005 and 0.5 mm diameter.
The Witwatersrand Basin has been affected by several structural events. Many studies now differentiate between deformation that was taking place during deposition of the Witwatersrand sediments and subsequent deformation. Deformation that occurred during the deposition of the sediments played a key role in the distribution and thickness of the host rocks as well as the occurrence of the gold-bearing reefs. Later faulting and buckling of the sequence determined which parts of the basin remained buried, and the depths to mineable horizons.
The South Rand area is located in the north eastern part of the Witwatersrand Basin. In the South Rand, the Witwatersrand sequence is thinner than in other parts of the Basin. The West Rand Group, comprising about 1,500 m (4,920 ft) of alternating quartz arenite and shale units, unconformably overlies the Archaean granite-greenstone basement rocks. The overlying Central Rand Group strata are approximately 900 m (2,950 ft) thick and include the Kimberley Reef horizon, which is the main gold-bearing unit on the Burnstone Property. The Johannesburg Subgroup, including the Bird amygdaloidal lava and the Kimberley shale, is about 300 m (985 ft) thick. The Turffontein Subgroup is approximately 600 m (1,970 ft) thick and is made up of a sequence of quartz arenites and conglomerates that correlate with the Elsburg Formation.
An 18-km (11-mi) long northwest-southeast gold trend has been outlined on the Burnstone Property that appears to be associated with a large, ancient, braided channel system extending over the property. Drilling has also shown that two northwest-southeast trending sub-parallel faults, spaced four km apart, have uplifted the central portion of the gold corridor. As a result, a substantial portion of the gold-bearing horizon along the main deposit trend lies between 250 and 750 m (820-2,640 ft) in depth, which is relatively shallow for Witwatersrand gold deposits. The average thickness of the reef is 35 cm.
GeologyThe Hollister Property is located at the intersection of the Carlin Trend and the Northern Nevada Rift. The Carlin trend is a northwest trending, 50-mile long metallogenic corridor, which hosts significant opencast and underground operations that have produced in excess of 70 million ounces of gold. Carlin Trend-type mineralization is 38-43 Myrs (Eocene) in age. The Northern Nevada Rift is a north - northwest trending structural feature made up of bimodal volcanic rocks that host Miocene-aged (13-15 Myr) low sulphur-type epithermal gold deposits such as Midas, Mule Canyon, Buckskin National and Hollister. The Paleozoic stratigraphy and Eocene magmatic pulse that is critical to the development of Carlin-type deposits to the southwest are in evidence at Hollister, as are the Miocene mineralizing events. The Hollister stratigraphic section includes Ordovician sedimentary rocks intruded by mid-Eocene plutons and unconformably overlain by a veneer of Miocene volcanic and volcano-sedimentary rocks. Devonian sedimentary rocks have been intersected at a depth below the Ordovician sediments under the Roberts Mountain Thrust.
Epithermal gold mineralization at the Hollister Property occurred in the early Miocene (15.1 Myr) and is directly related to right - lateral wrench tectonics associated with the Northern Nevada Rift, where it over-prints the Carlin Trend. The Hollister Property hosts a low-sulfidation Au-Ag epithermal system characterized by banded quartz veins with electrum, native gold and silver selenides. To date over 40 mineralized veins have been modeled in the main Clementine-Gwenivere vein systems. The veins are narrow (1-3 feet wide), and commonly display colliform banding, brecciation and silicification features indicative of multiple pulses of fluid movement. The low-sulphur epithermal vein systems form as part of a geothermal system around the interface of hot volcanic derived hydrothermal fluids and cold meteoric water influx. Similar active systems such as Yellowstone National Park (Wyoming) and the Taupo Volcanic Zone (New Zealand) demonstrate many of the features observed at Hollister.
Although mineral resources and reserves are delineated on the epithermal vein system hosted in Ordovician metasedimentary host rocks, continued exploration of the orebody has delineated zones of disseminated gold mineralization in the overlying Tertiary volcanic, within which restricted structures host zones up to 100 oz per ton Au. These super high grade Blanket Zones are being accessed and developed as a separate ore source, and have to date have been tested metallurgically at a separate whole ore roasting facility.
Some of the primary geological elements of the sediment-hosted gold deposits of the Carlin Trend are present at the Hollister Property, including Eocene intrusive rocks and lower-plate carbonate rocks. The Hatter stock (a grandioritic intrusive) at the Hollister Property has been dated at 39 Ma and is similar to 39 Ma biotite-feldspar porphyry dikes occurring in the Goldstrike area 5 miles SE in the Carlin trend. The main pulse of gold mineralization on the Carlin Trend is dated at about 38 Ma and commonly thought to be associated with late-Eocene magmatism.
Great Basin Gold is an international mining company with advanced stage developed projects: Hollister on the Carlin Trend in Nevada and Burnstone in the Witwatersrand Basin.
Responsible delivery: we are passionate about delivering value - not just to our investors, but to the surrounding communities in which we operate.
Great Basin Gold is a speculative investment. Readers should perform their own due dilligence and recognize that the posts contained herein may contain inaccurate information and/or unjustified hype.
SA Quote:http://www.miningmx.com/financial_tools/chart_centre
Website: http://www.grtbasin.com/
SEC filings: http://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0000865492&owner=include
SEDAR:http://www.sedar.com/DisplayProfile.do?lang=EN&issuerType=03&issuerNo=00004256
Properties: Burnstone - http://www.grtbasin.com/index.html?lf=1;pg=9;
Hollister - http://www.grtbasin.com/index.html?lf=1;pg=10;
Presentations:http://www.grtbasin.com/index.html?lf=1;pg=16;
Fact Sheet:http://www.grtbasin.com/gup/filez/GBG_Jan_2008.pdf
RECENT 2016 info about this FIASCO
http://www.klondexmines.com/investors/news/klondex-announces-agreement-to-acquire-the-hollister-mine-and-ccad100-million-subscription-receipt-offering
http://www.iol.co.za/business/news/southgold-business-rescue-completed-1714015
http://www.polity.org.za/article/business-rescue-of-southgold-gives-mine-a-new-lease-on-life-2014-08-07
https://www.sibanyegold.co.za/investors/events/presentations/2016/send/37-2016/366-update2016-04-burnstone-project
http://www.iol.co.za/business/news/southgold-business-rescue-completed-1714015
https://www.sibanyegold.co.za/investors/events/presentations/2016/send/37-2016/365-update2016-03-gold-projects
https://www.sec.gov/alj/aljorders/2016/ap-4010.pdf
https://www.sec.gov/alj/aljorders/2016/ap-4045.pdf
https://www.kpmg.com/Ca/en/services/Advisory/TransactionRestructuring/CreditorlinkSites/Great-Basin-Gold/Documents/Petition-to-the-Court.pdf
https://www.sec.gov/Archives/edgar/data/1561694/000119312515102104/d891668dex429.htm
https://www.sec.gov/Archives/edgar/data/1561694/000119312515102104/d891668dex428.htm
https://www.sec.gov/Archives/edgar/data/1561694/000119312515102104/d891668dex430.htm
https://www.sec.gov/Archives/edgar/data/1561694/000119312515102104/d891668dex431.htm
https://www.sec.gov/alj/aljorders/2016/ap-4051.pdf
http://www.kpmg.com/ca/en/services/advisory/transactionrestructuring/creditorlinksites/great-basin-gold/pages/default.aspx
http://cfcanada.fticonsulting.com/GBGL/default.htm
http://www.lawsonlundell.com/media/news/373_CAIRP%20Commercial%20Technical%20Update%20-%202013.pdf
http://www.witsgold.com/investors-and-media/company-announcements/2014/results-of-scheme-meeting-and-finalisation-announcement-03-13-2014
http://www.sibanyegold.co.za/index.php/2012-12-30-10-07-54/sibanye-gold-technical-and-operating-update-4-5-june-2014/doc_download/152-the-burnstone-project-richard-stewart-senior-vice-president-business-development
https://www.kpmg.com/Ca/en/services/Advisory/TransactionRestructuring/CreditorlinkSites/Great-Basin-Gold/Documents/First-Affidavit-of-Steven-Duenkler.pdf
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