Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Hi Is anybody able to estimate the fair price of GBGLF share in case zhat Burnstone will restart the production and the mining rights still belong to GBG shell?
Hoppy New Year to Everyone here if this board is still alive. Does anyone know how to claim the lose for tax return by using Section (50)1 election in Canada for GBG? Thanks.
GBG Rusaf Gold Limited (Rusaf Gold Limited)
Panama Papers
Great Basin Gold Ltd.
BOULDER MINING LIMITED
GRACEHOLME FINANCE LIMITED
https://offshoreleaks.icij.org/nodes/12060828
Agreed!
http://www.accountingperspectives.co.za/Docs/vol3.pdf
SOUTHGOLD OPERATIONS AND BUSINESS RESCUE
Southgold was a wholly-owned subsidiary of Great Basin Gold Ltd, a public company which was listed on the Johannesburg, New York and Toronto Stock Exchanges. Southgold’s principal asset was the Burnstone mine (the Mine) located in the Mpumalanga province. Southgold had been awarded a renewable licence during 2009 by the Department of Mineral Resources and commercial mining and production of gold ore commenced in 2011.
During August 2012, operations at the Mine were suspended due to Great Basin Gold Ltd’s review of the liquidity position of the company. e parent company decided to dispose of the Southgold operations in order to settle the various amounts owing to creditors.
In an attempt to seek protection from its creditors, Southgold was placed into business rescue. is was especially important for Southgold as, if the company had been liquidated, the mining right would revert to the South African government. e licence to mine was substantially the entire value of Southgold and without the licence there was no operation of which to dispose.
At a board meeting on 14 September 2012, the directors concluded that Southgold was nancially distressed and voluntarily commenced business rescue proceedings in terms of Chapter 6 of the Act. Shortly a er commencing business rescue proceedings, the parent company obtained a loan for USD35 million to service working capital requirements of the Burnstone mine and Hollister mine (a mining operation in the United States of America); of which USD11 million was utilised for the orderly suspension of the Burnstone operations and the placement of Southgold’s assets under care and maintenance.
During the last quarter of 2012, JP Morgan was appointed as a transactional advisor and the process for locating a buyer for Southgold or the Mine was commenced. Of the numerous pre- bid letters submitted, ve potential buyers were identi ed but it was ultimately Witswatersrand Consolidated Gold Resources (Wits Gold) that was identi ed as the buyer in the business rescue plan released by the parent company on 8 July 2013.
The business rescue plan incorporated the sale of the entire share capital to Wits Gold. e initial capital outlay required by Wits Gold amounted to USD7.5 million which was described as a ‘magic deal’ by the CEO of Wits Gold at an e ective 10 cents-to-the-dollar (Creamer, 2013). e business rescue plan also provided for the settlement of the amounts owed by Southgold to secured and unsecured creditors prior to the sale to Wits Gold.
We have been disrespected as shareholders and discarded....
Unlike https://thevault.exchange/?get_group_doc=245/1481270603-sby-presentation-investors-09122016.pdf
Continue to drive operational excellence on existing asset base – A proven operating model
– Robust cash flow
– Strong balance sheet
? Investing in organic growth
– R3.6bn approved in mid-2015 for organic growth projects in the Gold Division
? Growth through value accretive transactions – PGM sector a logical step – Aquarius acquisition (2016)
– Rustenburg acquisition (2016)
– Stillwater acquisition (2017)
It still feels that this isn't over yet. It may take a year or more, but when they figure out who to sue (that has any assets) there will be a class action law suite. The large shareholders will not just accept this scam without a fight. Some day in the future they will band together and hire a contingent fee law firm to take this case. We will probably get a letter in the mail notifying us of a pending class action suite going forward. Wishful thinking? I hope you BIG shareholders will go after these thugs!
Sibanye Gold to Buy Stillwater Mining for $2.2 Billion--Update
JOHANNESBURG--South Africa's Sibanye Gold Ltd. said Friday that it plans to buy U.S. palladium and platinum miner Stillwater Mining Co. for $2.2 billion, the company's first foray outside of Southern Africa and the latest bold move to diversify beyond gold mining
How much did the GBG shareholders get when SIB bought GBG-
NOT ONE F'N CENT....
Where is the GBGLF business rescue... How were the shares restructured? If at all?
SOUTHGOLD PROPRIETARY LIMITED
>Southgold was a member of the Great Basin Gold (GBG) group of companies with its main business of mining exploration
>GBG was a Canadian company listed on the Toronto Stock Exchange
>Company is the owner of the Burnstone mine – Mpumalanga
>Southgold was placed under business rescue on 14 September 2012, pursuant to a voluntary resolution passed by the board of directors and Peter van den Steen was appointed as the business rescue practitioner
>Provision of post-commencement funding by secured lenders
SOUTHGOLD PROPRIETARY LIMITED
>Conclusion of a restructuring and support agreement between the business rescue practitioner, the secured lenders and the noteholders
>Transaction structured as a –
>restructure of Southgold’s shares in certain subsidiaries
>transfer of intra-group assets to Southgold
>sale of the shares in Southgold to Wits Gold for R1
>restructure of Southgold’s debt and security to the secured lenders. Debt to be repaid over time
>payment by the secured lenders and Wits Gold of amounts to be made available for payment to noteholders and trade creditors upon closing of the transaction
On page 44 Sibanye Gold is trying to put a positive spin on this Financial Burnstone Gold mine mess... IMHO
https://issuu.com/globalafricanetwork/docs/mpumalangacompanies/6?ff=true&e=2226752/39957406
http://www.websimplicity.co.za/work/maps/GBG-directions-to-Burnstone-Mine-Balfour.pdf
http://cfcanada.fticonsulting.com/GBGL/docs/FTI%20GBGL%20Receiver's%20Fourth%20Report.pdf
Shafted by mgmt:
Shanta Gold Ltd (LON:SHG) boss Toby Bradbury told Proactive Investors that he expects production at the top end of guidance.
Bradbury in an interview said: “our production continues as per our guidance which is 82,000-87,000 ounces per year. We expect to hit the top end of that and we produce gold at a very low cost of $690-740 an ounce which is our guidance for this year. We expect to hit the favourable end of that as well''.
The company has two projects on the go in Tanzania - the first is a producing gold mine and the other is still in the development stage.
''We were very fortunate. We had seven analysts come out to [ the New Luika mine in ] Tanzania and it was great to be able to show them the work we've been doing over the last year."
• In April 2014, Sibanye exercised its option to acquire the Burnstone operation through a Business Rescue process
• At the time the operation was on care and maintenance with operations having ceased post the expenditure of some $500m in capital including:
– a vertical and decline shaft
– mechanised machinery
– a 125,000ktpm metallurgical plant
– tailings facility
– surface infrastructure
– fully permitted operation
The profitable PARTY has only $tarted for Sibanye Gold IMHO
".... This is a Gigajob job posting for:
JOB OPPORTUNITIES AT SIBANYE BURNSTONE GOLD MINE IN BALFOUR MPUMALANGA. (#456,164,447) Seen Already
Job offer #456,164,447 in Balfour (Eastern Cape), South Africa
sibanye gold pty (Ltd) owns burnstone gold mine
mine extension project is underway sibanye gold is urgently looking for suitable candidates to fill the following vacancies at burnstone gold mine in balfour mpumalanga.
>Artisans
>Admin clerks
> Machine operators
>Generall workers
>Plant cleaners
> Welders
>Engineering assistants
>Drivers code 10 & 14
interested applicants can send their cv to fax 0865658528
or contact HR manager mr david msiza on 0839852954
applications closes on 21 december 2016.
The Company
Company Name sibanyegold
Job Details
Job Location
Town Balfour Post Code ZA-5740 State Eastern Cape Country South Africa
Statistics for this Job Listing
Gigajob-ID 456,164,447 Posted 24 days ago Short-Link https://www.gigajob.com/en-ZA/456164447.html Seen in Search Results This ad was matched 6 time(s) in Gigajob search results Page Viewed This ad was viewed 1 time(s) by Gigajob users..."
https://www.gigajob.com/en-ZA/job-offer-for-JOB-OPPORTUNITIES-SIBANYE-BURNSTONE-GOLD-MINE-BALFOUR-MPUMALANGA-in-Balfour-o456164447
What does the South African High Court exactly... https://www.sec.gov/Archives/edgar/data/1561694/000120561313000212/sibanye_joint.htm
http://www.saflii.org/za/cases/ZAGPJHC/2013/33.html
Burnstone is located in the South Rand Goldfield of the Witwatersrand Basin near the town of Balfour, approximately 75km east of Johannesburg in the Mpumalanga province of South Africa.
Sibanye acquired the Burnstone assets in April 2014. These comprise:
two shaft complexes
surface portal and mechanised vehicle access decline and vertical shaft (shaft bottom at 495m below surface)
125,000tpm gold processing plant
tailings storage facility
infrastructure of a producing operation
Burnstone had previously produced approximately 38koz of gold before being placed on care and maintenance in mid-2012.
The Burnstone project feasibility study was approved by the Sibanye Board for project execution in November 2015. The project is planned with eight years’ steady-state production, averaging 125koz per annum, from an initial 23-year life-of-mine plan, yielding 1.73Moz of gold production from the feasibility resource of 5.7Moz. This is approximately 60% of the total Burnstone resource of 8.9Moz. The mine design and schedule in the feasibility study were limited to the mineable reserves within a 3km radius of the shaft infrastructure.
Extensive development will begin in 2016 with first gold production due in the second half of 2018 when there is sufficient on-reef development stockpiled to start up the metallurgical plant, albeit at a reduced milling capacity. The full production run rate is planned to be achieved in 2021 and the total life-of-mine project capital is estimated at R1,852 million (in 2015 terms).
In 2015, R272 million was spent on completing the mine-dewatering and permanent pumping infrastructure, re-aligning the shaft steelwork for rock-hoisting, and completing approximately 2km of development to access the ore body. The development was completed utilising the existing mechanised development machines which were first refurbished before being put back into production. Three development fleets of equipment were in production by year end.
The project budget of R705 million for 2016 was approved based on the first year of the feasibility study build-up, with this budget providing for:
the procurement of an additional three mechanised mining fleets and ancillary support vehicles
the development to access the ore body running costs of mine infrastructure and additional project capital infrastructure With the additional equipment being delivered and commissioned from March to July, the six development suites are planned to be at steady-state development rate by the fourth quarter which will deliver the 2017 plan of 8,380 metres. Approximately 4,500 metres of primary off-reef development is planned in 2016 to access the various mining blocks as well as 1,200 metres on-reef development in preparation for the first raise lines in 2017.
Da verlieren die Aktionäre hunderte Millionen Dollar
und niemand reicht Klage ein ??, ich versteh das nicht
Warum konnte diese Firma nach dem Konkurs
überhaupt noch mal an die Börse ??, wen auch nur
im Penny Stock Market ohne einen Vermögenswert zu
besitzen ??
This looks like a DEAD horse. At a Sibanye meeting months ago it was stated GBGLF shareholders would only see zeros...
Hoping for some incredibly slim sliver of ...
Not looking good at all ...
Once they reopen Burnstone if these DEAD shares do not bounce we are looking at zeros ...
Beyond FRUSTRATED,
GPB
PS I am disgusted with how this has presently played out for all GBGLF investors...
"...South Africa: South Gauteng High Court, Johannesburg
http://www.saflii.org/za/cases/ZAGPJHC/2013/33.html
Quote:
CREDIT SUISSE GROUP AG........................................First Intervening Party
STANDARD CHARTERED BANK..............................Second Intervening Party
(Reg. No.: 2003/020177/10)
IN RE:
The Ex Parte application of:
PETRUS FRANCOIS VAN DEN STEEN N.O..............First Applicant
SOUTH GOLD EXPLORATION (PTY) LIMITED
(in business rescue).......................................................Second Applicant
JUDGEMENT
Rautenbach AJ:
1. This application came before me as an Ex Parte application on the unopposed roll of the Motion Court of this division. There are two applications before this Court.
2. The first application is an application by the Credit Suisse AG and Standard Chartered Bank respectively as the First and Second Intervening Parties seeking leave to intervene in the main application brought by the First and Second Applicants.
3. The second application is the application by the First and Second Applicants seeking an order in the following terms:
3.1. Declaring that the Second Applicant has complied with sections 129(3) and 129(4) of the Companies Act, 71 of 2008 and is accordingly in business rescue under the supervision of the First Applicant, pursuant to a resolution filed at the Companies and Intellectual Property Commission on 14 September 2012.
4. At the hearing of the matter my attention was specifically drawn to section 129 of the Companies Act, 71 of 2008 and more specifically to sub-sections (3) and (4) which read as follows: ..."
http://www.polity.org.za/article/business-rescue-of-southgold-gives-mine-a-new-lease-on-life-2014-08-07
I found another link.
https://markets.ft.com/data/equities/tearsheet/summary?s=GBG:JNB
The ticker is different but it's still GBG
GBG.jnb
the other one was
Great Basin Gold Ltd(JSE:GBG)
The cloud of secrecy is still upon us.....
Why is this NOT at zero...? GBG JSE
http://www.google.com/finance?cid=539894187408038
Hmmm...?
https://thevault.exchange/?get_group_doc=245/1471265156-update2016-04-burnstone-project.pdf
How will ....? Hmmm....?
"...Category Manufacturing
Location Mpumalanga (Siyathemba)
Contract Full Time
Pay R280,000 per annum (Negotiable)
Benefits Housing,car & risk allowance
Listed Nov 10, 2016
Expires Jan 9, 2017
Sibanye Gold pty (Ltd) owns burnstone gold mine
mine extension project is underway sibanye gold is urgently looking for suitable candidates to fill the following vacancies at burnstone gold mine in balfour mpumalanga.
>Artisans
>Admin clerks
>Machine operators
>Generall workers
>Plant cleaners
>Welders
>Engineering assistants
>Drivers code 10 & 14
interested applicants can send their cv to fax 0865658528
or contact HR manager Mr. David Msiza on 0839852954
applications closes on 21 december 2016.
NB: jobs that require an up-front payment are scams. Your discretion is advised...."
Does anyone have any clue... what is going on with .... ?
http://www.jobspace.co.za/job/job_opportunities_at_sibanye_burnstone_gold_mine_in_balfour_mpumalanga/1870013
Again, WHY is BlackRock MacKenzie VanGuard to name just a few NOT demanding their slice of this golden BURNSTONE pie? Hmmm?
"...USAA Asset Management Company 18,400,000 2016-05-31 0.00 N/A 0
USAA Precious Metals and Minerals Fund 18,400,000 2016-05-31 0.00 N/A 0
Mackenzie Investments 9,258,823 2016-07-31 1.68 N/A 28
ClearView Life 8,570,385 2016-08-31 0.00 N/A 0
AMP Platinum International 8,570,385 2016-08-31 0.00 N/A 0
Skandia Link BlackRock World Gold SEK UL 8,208,603 2016-06-30 0.00 N/A 0
BlackRock (Luxembourg) SA 8,208,603 2016-06-30 0.00 N/A 0
BlackRock Investment Management (UK) Ltd. 5,286,897 2016-06-30 0.00 N/A 0
Undrly BlackRock DC Gold & General Pen 5,286,897 2016-06-30 0.00 N/A 0
Mackenzie Precious Metals Class 5,107,823 2016-07-31..."
the $110 million bought deal offering of senior unsecured 8% convertible debentures by Great Basin Gold Ltd., the $130 million unit financing by Great Basin Gold Ltd
Who would they sue in court? Who would be held liable for the collapse of GBG that has assets for recovery? Would a law suite be for shares in the new mine production? ....or to recover damages for misleading share holders and investors? Do they sue for "our" mine, infrastructure, permits, and good will being sold for pennies and nothing returned to shareholders? I wish I was a lawyer with a lot of $ so I could find a way to make this right for us!
what is going on i see in my account (GREAT BASIN GOLD LTD ORD (CDN) any body know anything and what is this mean
Where are the varied lawsuits from Credit Suisse, BlackRock, MacKenzie etc.?
Hundreds of millions of dollars just flushed down the drain and NO animosity?
Something does not obviously add up! Hmmm?
"...USAA Precious Metals and Minerals Fund 18,400,000 2016-05-31 0.00 N/A 0
Mackenzie Investments 9,258,823 2016-07-31 1.68 N/A 28
ClearView Life 8,570,385 2016-08-31 0.00 N/A 0
AMP Platinum International 8,570,385 2016-08-31 0.00 N/A 0
Skandia Link BlackRock World Gold SEK UL 8,208,603 2016-06-30 0.00 N/A 0
BlackRock (Luxembourg) SA 8,208,603 2016-06-30 0.00 N/A 0
BlackRock Investment Management (UK) Ltd. 5,286,897 2016-06-30 0.00 N/A 0
Undrly BlackRock DC Gold & General Pen 5,286,897 2016-06-30 0.00 N/A 0
Mackenzie Precious Metals Class 5,107,823 2016-07-31 0.93 N/A 15..."
Hopefully, Goldenpolarbear will stay and keep this bullboard life. Many thanks to GPB for his time and efforts to maintain this bullboard for the past years. I will keep my eye on this bullboard.
Dear Goldenpolarbear, I have not checked the board here for a few weeks but noticed no shares being traded. I guess now I am just thankful for all the research and effort that you have made to help us find some future profit here with Great Basin Gold. You did a great job finding so much information within a veil of secrecy and lack of transparency. Thanks again for everything and God bless.
Und was bedeudet das für uns Aktionäre ?
Southgold means Southgold Exploration Proprietary Limited, a private company duly incorporated according to the company laws of South Africa, with registration number 2000/016129/07;
1.1.31. Southgold Ceded Rights means those Ceded Rights relating to Southgold;
1.1.32. Southgold Pledged Shares means any and all shares, including any preference shares, owned or held now or from time to time in future in the share capital of Southgold;
4 Witwatersrand Consolidated Gold Resources Proprietary Limited (Wits Gold) has ceded and pledged its shares in K2013164354 Proprietary Limited (K2013) (a dormant entity) and K2013 has ceded and pledged it shares in Sibanye Gold Eastern Operations Proprietary Limited (SGEO) in favour of the lenders of the Burnstone Debt (refer to note 23(c)).
5 The Group has no current or contractual obligation to provide financial support to any of its structured entities.
Good grief, well, we were all expecting this! SOB hope they go to jail
forget the gold sector, the marijuana sector is where its at
Where is the South African Businss Rescue https://thevault.exchange/?get_group_doc=245/1477548064-Sibanye_Q32016_OperatingresultsandTradingstatement.pdf
???
How did Neal Froneman ensure that the Business Rescue of Great Basin Gold was simply...
https://issuu.com/globalafricanetwork/docs/mpumalangacompanies
http://www.websimplicity.co.za/work/maps/GBG-directions-to-Burnstone-Mine-Balfour.pdf
http://www.sharenet.co.za/v3/quickshare.php?scode=GBG
Hmmm?
Sibanye Gold’s earnings skyrocketing
GBG shareholders get the shaft...
"great job" GBG management and how much did you get from those deals....
James Bullard
President and CEO, FRB-St. Louis
Association for University Business and Economic Research (AUBER)
2016 Fall Conference
Oct. 24, 2016 Fayetteville, Arkansas
Stimmt GPB hier passt vieles nicht zusammen !
was bedeutet dieser Rettungsplan für uns Aktionäre,
Wie konnte GBLF überhaupt nach dem Konkurss eine zulassung zum Handel
an der Börse bekommen ??, ohne Vermögenswerte ?, das
wäre eine Frage an die SEC
Johannesburg - A court order relating to a business rescue plan for Southgold Exploration has “significant ramifications” for the banking and business restructuring industries, law firm Bowman Gilfillan said on Wednesday.
A declaratory order was granted by the High Court in Johannesburg last week, according to Claire van Zuylen, a director at the law firm.
It meant Southgold's failure to formally notify one group of creditors did not nullify the company's business rescue,
“Had the court order not been granted, lenders to Southgold would not have been prepared to advance further funding, because the validity of the business rescue would have been in doubt,” she said.
On September 18, Canadian company Great Basin Gold announced that its principal South African subsidiary, Southgold Exploration, which owns the Burnstone mine in Mpumalanga, had filed for protection under South African business rescue procedures because of financial problems.
It was going to find either a buyer or backers to bring it back to solvency.
To keep its mining licence, which would help it stay a viable company, it had to stay out of liquidation, according to court papers posted on Southgold's website.
It also had to notify creditors, as part of business rescue procedures, but there was uncertainty about whether one creditor had been notified.
Van Zuylen said the order was granted in an application by business rescue practitioner Petrus Francois van den Steen and Southgold Exploration, with Credit Suisse AG and Standard Chartered Bank intervening.
The latter two companies had lent large sums to Southgold.
Southgold and Van den Steen, represented by Webber Wentzel, and the lenders, represented by Bowman Gilfillan, had applied for the order to have the failure to formally notify a group of creditors condoned, and the business rescue declared valid.
The order was granted on March 1.
In previous cases, it was held that the business rescue had to fail because a single creditor had not been timeously notified.
In terms of a section of the Companies Act, a company which places itself into business rescue has a set period to appoint a business rescue practitioner and to give notice to “affected persons”, including creditors.
If a company then fails to comply with certain provision of the act, the resolution to begin business rescue proceedings and place the company under supervision lapses, Bowman Gilfillan said.
This had the absurd result that the entire business rescue had to fail even if a creditor was not notified because it was not known the creditor was a creditor, or had not yet made a demand, the law firm said.
Business rescue practitioners became reluctant to take appointments because of the possibility of being exposed to damages claims for contracts concluded in the period when the business rescue was assumed to be valid.
Lenders to the company faced even more serious consequences. Most companies survived a business rescue only if they were able to procure post-commencement financing, the law firm said.
In order to incentivise lenders to give facilities to companies in business rescue, the act provides that any lender who advances money to the company after business rescue starts will have a preference for that advance, both in the business rescue and in any subsequent liquidation if the business rescue fails.
Van Zuylen said that if the resolution for business rescue were found to be a nullity under the act, all that funding would, in effect, have been advanced prior to the commencement of business rescue, and would not enjoy the preference. - Sapa
"... Vacancy: Superintendent ETD
Operation: Sibanye Academy: Burnstone Campus (Sibanye Gold)
Section: Technical Training
Job Grading: D-Lower
Closing Date: 31 October 2016
Your manager should be aware of and support your application. Pre-screening and psychometric evaluation may form part of the selection process. Short listed candidates will be requested to attend a panel interview. Applicants who receive no response to their applications within 14 days may consider their application for the position to be unsuccessful.
Sibanye is committed to the achievement and maintenance of diversity and equity in employment...."
https://www.sibanyegold.co.za/careers/send/22-jobs/404-superintendent-etd
What exactly happened to the Great Basin Gold South African Business Rescue ?
http://www.polity.org.za/article/business-rescue-of-southgold-gives-mine-a-new-lease-on-life-2014-08-07
"... J. G. Rautenbach
Acting Judge of the High Court ...."
http://www.saflii.org/za/cases/ZAGPJHC/2013/33.pdf
http://www.iol.co.za/business/companies/rescue-ruling-significant-1481944
Something does not add up here!
Beyond FRUSTRATED! Why exactly have my shares still NOT gone to zero in my account...? They are hovering just above zero ... Hmmmm...
This seems to be a DEAD....
Well, when this specific account sits at zero for over three months, I will consider this a DEAD....
Only the JSE would look at but I highly doubt the SEC would allow and with a non existent management team and assets...
What a manufactured financial mess that never needed to transpire with the Burnstone and Hollister gold mines IMHO... http://www.klondexmines.com/about-us/management
http://www.marketwired.com/press-release/great-basin-gold-completes-appointment-senior-management-its-hollister-burnstone-operations-tsx-gbg-744647.htm
"....Independent Chairman of the Board
Ray Dombrowski
2012 Chief Executive Officer
Patrick Cooke
2012 Interim Chief Financial Officer, Director
Peter Gibson
2012 Chief Financial Officer
Dana Roets
2011 Chief Operating Officer
Willem Beckmann
2012 Vice President - Legal and Compliance
Philip Bentley
2010 Vice President - Geology and Exploration
Bheki Khumalo
2011 Vice President - Organizational Effectiveness
Dawid Mostert
46 2006 Vice President - Human Capital
Bernhard Zinkhofer
60 2011 Corporate Secretary
Joshua Ngoma
2009 Director
T. Barry Coughlan
70 1998 Independent Director
Anu Dhir
43 2011 Independent Director
Octavia Matloa
38 2011 Independent Director
Michael Curlook
Head - Investor Relations & Communications» ..."
http://www.reuters.com/finance/stocks/companyOfficers?symbol=GBGJ.J
"...Great Basin Gold Ltd. ("Great Basin Gold” or the "Company") (TSX: GBG) (NYSE Amex: GBG) (JSE: GBG) announces an addition to its management team with the appointment of Joseph M. (Joe) Driscoll as Vice President (VP) for Great Basin Gold’s Nevada Operations...."
http://www.newsfilecorp.com/release/1468/Great-Basin-Gold-Announces-the-Appointment-of-Vice-President-for-the-Nevada-Operations#.WAfcgnSs-hA
Ja stimmt GPB hat sich enorm eingebracht hier
schon allein für seinen Einsatz hätte er es sich verdient
gehabt das diese Aktien wieder einen Wert erhalten
Danke GPB !!!!
I still plan to check this posting board daily for several months.....I hope you guys will continue to post any news. Thanks for all your previous posts, specially GPB!
Richtig Nagoya das ist der letzte funken Hoffnung
das es Zu Klagen von Groß Aktionären kommt
Ich glaube aber nicht daran es sind vier jahre vergangen
und es ist nichts pasiert
Shanta Gold 'on target for achieving production guidance' says CEO
Share
07:30 19 Oct 2016
Shanta Gold Limited (LON:SHG) produced 20,580 ounces of gold during the quarter ended 30 September from its New Luika mine, at an all-in sustaining cost of just over U$620.
Chief executive Toby Bradbury tells Proactive: ''What's really pleasing is that our costs have continued to come down and we've actually reduced our guidance for the year on the back of that''.
GBG mgmt---assets given away for next to nothing...
Go lawsuits go.
Good question, I was wondering the same thing. Does it just go puff and vanish? Looks like I will finally take a long term capital loss and offset it with long term some profits. I have been waiting for this but now my hand is being forced. Timing sucks as pm miners are now in severe correction. Hopefully we will get the new leg up before the year end.
What happens to the money that was still trading at the time of it being revoked?
Great Basin did not appeal the Admin Law Judge Initial Decision to revoke GBGLF stock registration.
Excerpt:
The time for filing a petition for review of the initial decision in this proceeding has expired. No such petition has been filed by Great Basin Gold Limited...
https://www.sec.gov/litigation/admin/2016/34-79097.pdf
The SEC A.L.J. Initial Decision on August 23,2016 that afforded Great Basin an opportunity to appeal the Initial Decision:
https://www.sec.gov/alj/aljdec/2016/id1050jsp.pdf
We got the bad news.....REVOKED.
GBGLF revoked:
https://www.sec.gov/litigation/admin/2016/34-79097.pdf
Followers
|
119
|
Posters
|
|
Posts (Today)
|
0
|
Posts (Total)
|
14330
|
Created
|
06/12/03
|
Type
|
Free
|
Moderators |
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
Volume | |
Day Range: | |
Bid Price | |
Ask Price | |
Last Trade Time: |