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.
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.
I hope you are right N and we find out what Burnstone went for, if good we could be on easy street if bad we could be shaking in our boots but news either way would be nice.
I can see the headlines now in a week or so "Maple Leafs lead playoff series over Canadians 3-3" or maybe "Burnstone sells for 800 Million"...a man can dream can't he.
I hear you and hope you get your investment back with interest. When it comes to money folks can be fickle it's hard to separate cash from emotions we all struggle. This is a high risk venture, no doubt but I see the chances of sucess about 50/50 and with pinky stocks them odds are dang good. Have a great night ditchman and thanks for the honesty that's a trait that's hard to find these days.
The basis behind mine is they paid almost as much as you say its worth today basically for just the property. Thanks for the awesome reply by the way you do know a lot about this site and it was really cool that you were there on the ground. You seem to know the buisness pretty well I have been on mine sites being built as a tradesman and the cost is enormous they are massive projects no way this thing goes for anyware near what you are preaching but I guess time will tell, I'm in and neither you nor I can call the outcome. Have a great night.
Nice summary GPB and the fact that we now have some guys here trying to lower the PPS to load up and get on the boat before it sails is proof that others are starting to see what you already know. The fact is nobody knows what is going to happen but I like the way things are setting up I'll tell you that.
Oh man you got's 100k more than me but I'm hoping for some post mortgage powder next week and hope to get another 100K then if my finance minister gives me the go ahead. Man I hope that 600K of yours makes you smile real big soon. GLTY. Oh and I am Irish so I have that on our side as well. Have a great night.
Fin you are assuming Hollister went for under 60M and with that assumption I guess your glass half empty opinion...and that is all it is one mans opinion...would be pretty close to how it would play out but how about my opinion...and that is all it is one mans opinion...that we get enough money for Hollister and Burnstone to pay the bills and have cash on hand do develope their other assests...we would jump to .05 - .20 at the end of the month when the Business Rescue Plan is announced with my glass half full senario. Hey man this is lotto pinky land big risk big reward where most companies do not even have an address and we have two gold mines plus assests, if this lotto play is not worth it could you direct me to one you think is better? Good luck with that.
.01 stays until VE and possibly others dump their shares I do not see a mystery here anymore as most sales above .01 reduce VE's share count and they still have lots to sell by the sounds of it. We just need to be patient and wait for the end of May now. Have a great night folks.
Hey were getting a little volume now and all at a penny that's better and you are right the glass is half full if it were bad news we also would have tanked by now...Status Quo I guess (I still love that band).
Looks like the battle of the losers coming up they way T.O. and the HABS have been playing lately it is going to be a rough and tough series I think your HABS have a better chance of winning but there may not be much left of either team by round two and I predict this will be a 7 game series so I don't see either one getting past round two but hey just like GBG anything goes and no one really knows what is going to happen for sure...man are we in for a great series though. GO LEAFS GO. GO GBG GO.
I will second that motion as it is good to have the devil's advocate on all of this as we are all pretty biased due to our investments. I also have appreciated the open communications Fin has inspired. My biggest concern is that if the Hollister sale is a good thing why have we not seen the volume yet? Fingers crossed but that worries me today.
The Canadians take their Business Rescue Plans quite seriously and every effort is made to keep the business as a going concern, the auto makers did not do so well but most all of the Pulp/ Paper and sawmill outfits survived. Just saying.
As far as I can determine from the CCAA monitor reports Hollister was requesting an extension to loans from the bank and asking its creditors to wave payments for a term...the creditors did not grant the terms which forced the bank to extend the loans only if the company initiated chapter 11 filings...no mystery here folks Rodeo Creek went bankrupt simple as that. You don't pay your mortgage you better file bankruptcy. Is there a different way to go bankrupt so you help an auction...I agree with you finbar...but I am still hoping we sell Burnstone and manage to keep Hollister.
Yes news sure would be nice especially good news, this waiting is tough hopefully it's almost done. A good ol Montrel vs Toronto best of seven man it just does not get better than that but the couple of games I watched this year it looked like T.O. had the edge so it may be a tough first round for your HABS. The HABS are in Jersey tomorrow maybe I can catch the game on TSN. Have a good one N.
I'm in right now, no issues here must be a local server thing for you guys...don't know what to say all ok here.
I have had no problems getting onto the GBG website? Look at my two earlier posts today both pulled from the CCAA section of the site? Not sure why you guys can not enter but I can??
Some light reading incase you have not seen this yet.
http://www.kpmg.com/Ca/en/services/Advisory/TransactionRestructuring/CreditorlinkSites/Great-Basin-Gold/Monitors%20Reports/Monitors-7thReport.pdf
What about this senario, I'm thinking the fact they delayed the auction on Burnstone to me means they may not have got a bid with a high enough price so they are still last minute shopping but it may well be a stall tactic to wait for the bids from Hollister to come in. If Hollister comes in with big cash could they reverse the situation sell Hollister and keep Burnstone. I see it as a possibility now that all bids will be coming in at about the same time. I think if we had a good Burnstone bid we would have already heard about the Buisness Rescue Plan by now but they are now.
Adjournment sine die
From Wikipedia, the free encyclopedia
Adjournment sine die (from the Latin "without day") means "without assigning a day for a further meeting or hearing".[1] To adjourn an assembly sine die is to adjourn it for an indefinite period. A legislative body adjourns sine die when it adjourns without appointing a day on which to appear or assemble again.[2]
It can be used in reference to legislatures whose terms or mandates are coming to an end, and it is anticipated that this particular body will not meet again.[3] A legislative body adjourned in this way may be called back into special session, a reason why sine die adjournment rather than dissolution may be preferred in some cases.
A corporate board might adjourn sine die if the corporation were being sold, merged, or liquidated.
A court may also adjourn a matter sine die, which means the matter is stayed permanently. This may be due to various reasons, for example if the case is started with a wrong procedure chosen the judge may adjourn the matter sine die so that the party may choose to start the action again with the correct procedure.[4] It may also be thus adjourned if there is no possibility of proceeding in the foreseeable future—for example an action may be adjourned sine die if the individual is in prison and there is no prospect of continuing the action at that time. In a sine die adjournment of this type, the hearing stands open indefinitely, and could theoretically be resumed if the situation changed.[5]
Shanta Gold terminates joint venture see link. FYI.
http://www.4-traders.com/SHANTA-GOLD-LIMITED-4005388/news/Shanta-Gold-Limited-Strategic-and-Operational-Update-16686255/
HDI have a pretty good record of managing these rescue plans I read a few months ago where the liquidation offers and auctions on one of their rescue plans were too low so they worked out new financing and implemented a mine management group to continue running the mine as a going concern and paying off the debt and that certainly was in the shareholders best interest could the same thing be happening here with GBG...new hires, paying small creditors, continued drilling plans, it actually all looks good to me but what do I know for all I know I could lose my investment tomorrow. High risk = high gain so I'm in as well. GLTY.
The parent company GBG is a Canadaian company as you know and is in Canadian Bankuptcy Protection so any chapter 11's or 7's applied to their holdings should be nicely tied up in legallities and keep any creditors from liquidating without due process of the Buisness Rescue Plan so if I understand it correctly the rescue plan is in place to protect against creditors forcing liquidation of GBG's assets which has already been tried on Burnstone and was stopped by the rescue plan. I only know what I picked up from the Nortel bankruptcy and so far on this one so I am no pro at this but I do know that Credit Swiss was already turned away from liquidating Burnstone assests by The Rescue Plan. Just my opinion I think we are still golden here just need lots of patience. Have a great day.
Someone dumped a chit load of shares today did VE offer the cheepies or are they coming from somewhere else?
Well put your price trigger in and wait a day or so something tells me you will get another chance I just hope it is VE liquidating and nothing more.
I will not buy more until I see a bottom or price support how low can we go? I hear you though if we do get good news we should be at least a few cents a share right away so what does it matter still better to buy low.
Better hope it's VE liquidating or something leaked and it can't be good I will be looking for your update for yesterdays VE action tomorrow Dano and hope they finally liquidated well below a penny, if so I'm a buyer if not I'm very worried. Hoping for the best here.
Gold prices seem to have found a bottom lately and that is good timing for us hope it added a few bucks to the bids but who the heck knows it would be nice to get a leak from someone soon.
Watched the game it was a good one I don't think Subban will take another run a Lucic though man did he pile up on the ice in a hurry. Leafs did well Oilers lost two this weekend now 4 points behind Detroit with 9 to go so I think the Oilers are done unless they do the hail marry and win 7 of the last 9...hopefully GBG does a hail marry and holds onto Hollister as well. Have a great day N.
Now you guys are talking my language when I first looked at this stock two mines for sale both worth hundreds of millions (or more) plus auction dates set a few weeks apart and a Buisness Rescue Plan told me right away they were going to try and save Hollister. It is a big gamble lots can go wrong but worth throwing a few grand at and now the waiting game.
I think we get news when one of two senerios happen, Burnstone sale is final (could take a month or more...lawyers) for enough money to run Hollister as a going concern. The second After the sale of Burnstone and Hollister (two - three months...even more lawyer delays) if Burnstone does not bring enough cash alone. They would not let any bidders of Hollister know how much Burnstone sold for until that mine was sold as it may impact bidding. So I think we have a month or two at best before we get news unless something leaks out IMO.
Now for the important stuff I have Rask on my hockey pool this week but still hope the HABS win today. My Oilers are getting very fun to watch they are exposive and sometimes implosive no consistancy yet but starting to gel. I Toronto and the HABS playoff there will be fighting on the ice, stands, hallways, streets, parliament buildings etc. Have a great day and go HABS.
I guess I better buy one share on Monday then I will have .5000001 shares and can come see you folks at the B. The second round on the little Irish looking dude...if I can get that elusive share on Monday.
A decent days volume and I would love to pick up some of those .009's if possible in the near future but I have a feeling we will here news or see some volume before I scamble up some more GBG retirement investment cash.
It's even worse N I was raised in Ontario so I'm actually a Leafs fan, my mom's family are from Quebec and Dad's from Ont. so we almost had fist fights on Saturday nights when I was a kid...good times...good times and as I write this I'm enjoying an ice cold Canadian (beer). I hope your HABS make it right up to my Leafs or God allows my Oilers but my Oilers need to beat out Detroit to get to the playoffs first.
I'm with you on this one two mines for sale we will get something but the waiting is the hardest part. Your HABS have a fine team but I'm concerned with their size the smaller teams just get too beat up to go the distance. Good luck...at least they are in the playoffs my Oilers are looking tough just to get in. Have a great day.
Nice I hope they payoff big real soon.
OH NO NOT A HABS FAN...you had my respect up to your last post N, now I'm worried.
Good morning D I have .5 M right now I did manage to pick some 1's up last week but I'm out of powder until next pay I will think of adding more then but I am happy with what I have. It looks like VE keeps the price from going above one and nobody is selling so that explains our solid PPS so it does not look like I need to be in a great hurry.
I have been trying to figure out why we have had no news yet but I guess it does make sense, they would need to award the purchase then complete all the lawyer talk and signage dot the I's and cross the T's etc. this all takes a lot of time. I'm in a hurry but you can not rush a corporate law office they operate at a different speed generally very very slow so just hang in there folks we will end up all ok in the end. Have a great night.
Hey G-Bear nice to feel you positive vibes, glad your still with us hang in there it will eventually pay off. Penny trading is 80% terror and 20% knowledge so hang on tight.
GLTY G-Bear thanks for all the links I'm going to ride this one through for a while longer and hope for a hail Mary miracle.
Interesting read for sure thanks G-Bear.
It's not so clear in my mind this is just an article not a company news release they know about as much about the Buisness Rescue Plan as we do and that's not a lot at this point in time. Maybe just looking through my rose stained glasses but I still feel we have a resonable chance of keeping Hollister nothing has changed IMO buisness as usual. Hope you are feeling better T, and have a great Easter Sunday everyone.
The article is a little confusing in that in one paragraph they say the company is for sale and on the next they say they are brokering a deal with the bank. So why deal with a bank if your being sold in a few days anyways? To me this just indicates that no one really knows what is going on until there is an official announcement by the company but there is no question that the production and profitability of Hollister is increasing. I do not understand what "We are no longer affiliated with the South African Group" means do you?