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Chief Judge Mike K. Nakagawa is presently presiding over the Great Basin Gold Nevada Assets & Rodeo CreekCase Number: 13-50301 mkn
Request for Telephonic Appearance
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Cheers,
Golden~Polar~Bear
PS Expecting the worst and I will be amazed with any form of positive news for the creditors or the GBG shareholders.
US Bankruptcy Court proceedings for Great Basin Gold's Nevada assets starts in about two hours and finally, we should start getting a few answers and learn if there is any light at the end of the tunnel regarding these amazing gold and silver assets in the heart of the Carlin Trend!
Good luck everyone,
GPB
PS I am not expecting a proper PR release for possibly two weeks.
Visit Shanta Gold
Read the summary!
Let me know what you think?
I still cannot understand why we are giving away all of our Nevada assets for 15 million plus possibly 90 million in net profit royalties. We need a JV with Waterton or we lose our American assets and become a laughable organization in the gold mining business IMHO.
Waiting for a miracle until December.
Cheers,
GPB
Dano, unfortunately, I concur and IMHO for merely 15 million we are giving away our Nevada assets.
This deal is a joke and with no Final EIS; I do not see the possibility of the net 90 million royalties needing to be paid for years!
Cheerz,
GPB
PS This is not a deal it is a joke!
Hi RBKMAS,
I concur with your thoughts!
Cheers,
Golden~Polar~Bear
PS Best of luck to all; we will need it without a Hollister JV IMHO and if it is sold for only $15 million dollars!
Ron Thiessen Does Sing Beautifully!
Now, we need a miracle like a Waterton JV ??? Extremely, highly unlikely but at least dreams are free.
I am not so sure this perfect GBG storm is going to end anytime soon.
The problems with Eskom Energy in SA and the fact that the gold price is not over $1550 USD does not bode well for our GBG future endeavours so...
At this point, I am preparing to right this off as a loss for my 2013 tax return.
Cheers,
Golden~Polar~Bear
PS I think the Bellagio Pool Party is seriously postponed; sadly, Ron cannot find just the right outfit. : ~ (
Is Our GBG Nevada Team looking for work?
Did Waterton/Barrick Gold offer them employment?
Might we be offered a partial JV with Waterton regarding Hollister and the Esmeralda Mill? Well, we will know soon.
If Waterton Global Resources purchased all of our GBG Nevada Assets for $15 million; IMHO we got burned and $90+ million in possible net profit royalties over 9 years is simply laughable.
GBG Nevada Team
+ Joseph (Joe) Driscoll - Vice President, Nevada Operations
+ Doug Crawford - Mine Operations Manager
+ Anthony Bottrill - Mineral Resource Manager
+ Teresa Conner - Environmental Manager
+ Mike Doolin - Mill Manager - Esmeralda Mill We know Mike has moved on!
+ Adam Dunyon - Finance Manager
+ André Goedhals - Project Management Office Manager
+ Tom Holcomb - Technical Services Manager
+ Carrie Stringham - Human Resources Manager
+ Duane Wrede - Exploration Manager
Cheers,
Golden~Polar~Bear
PS What a shock it would be to get a little positive GBG news!
15 million is too low of a sale price. I am hoping that in the final sales agreement that it is seriously sweetened. If not we gave our American DIAMOND IN THE ROUGH away IMHO!
I will not pull my money until at least December; I can easily afford to lose it. I think this is in the cards now.
What was the security deposit amount for each bidder to prove that they were in serious contention 15 million?
Cheerz
GPB
PS Still unrealistically praying for a JV with Waterton.
Hollister & Esmeralda Are Sold!
IMHO This is not good news we wanted a JV and a large injection of cash. What a disaster for GBG and us the shareholders.
http://www.nationalpost.com/markets/news/Waterton+Global+Announces+Successful+Hollister+Gold+Mine+Esmeralda+Mill/8317364/story.html
Cheers,
GBG
Hollister disposed of for $300 million + future net profit royalties and all debts and creditors paid; this type of business transaction might please me, but really giving Hollister away for $15 million and $90 million in royalties. Seriously, LOL!
I just think we have been royally ...
Cheers,
Golden~Polar~Bear
PS If we have been ... once what really makes you think the same or something similar will not happen with Burnstone within two months?
(h) The Buyer and the Sellers shall have entered into the Net Profits Royalty Agreement in form and substance mutually satisfactory to the Sellers and the Buyer. Quoted from page 32 decidely vague and open ended. No 90 million dollar or 15% restriction to the Net Profits over 9 years? Hmmm?
http://www.gcginc.com/cases/rodeocreekgold/pdflib/420_50301.pdf
Enter into the Net Profits Royalty Agreement
At the Closing, the Buyer shall:
(i) deliver to the Sellers the Cash Consideration less the amount of the
Deposit;
(ii) enter into the Net Profits Royalty Agreement;
(iii) pay the portion of the Purchase Price representing cure payments
and deliver to the Sellers evidence of such payment;
(iv) deliver to the Sellers a duly executed Assumption Agreement;
(v) deliver to the Sellers a duly executed Assignment and Assumption
of Mining Leases for each mining claim listed on Schedule 4.6(d);
The Net Profits of only 90 million to be paid to our creditors etc?
Cheers,
GPB
http://www.gcginc.com/cases/rodeocreekgold/pdflib/420_50301.pdf
The APA (asset purchase agreement) who wants to go through this with a fine tooth comb. Look for and possible legal language leaving an opening for a JV with Waterton etc. or a possiblity of making significant last minute changes to the final agreement?
Cheers,
GPB
This would be a much more realistic deal!
Great Basin Gold holds a 70% interest in the Hollister project with joint venture partner Waterton Global Value L.P. (30%). Great Basin Gold is entitled to receive 80% of cash flow generated in accordance with project agreements and is the operator of the project.
I could do the paperwork if they want prior to May 2nd?
Yes, we would still owe CS but there would be hope!
Seriously, where is or was that Final EIS for Hollister?
Take a look at the Scorpio Gold Corporation Introduction and the JV Waterton has with them. http://www.scorpiogold.com/s/mineral_ridge.asp
This is the normal type of deal Waterton Global Resources is known for not outright acquisitions???
It still makes no sense that we gave Hollister away for 15 million and 90 million+ in future royalties.
Sincerely,
Golden Polar Bear
PS These numbers and this acquisition do not add up in the real world!
Not fully worked out, concluded, or agreed on; provisional:
Definition = Tentative
This deal cannot be for real!!! We got burned!
15 million for a one billion dollar gold asset? i.e. Hollister Mine
A JV with Hollister & Waterton/Barrick is still in our best interests and IMHO one of our only hopes. If Waterton has simply purchased the property for 15 million dollars plus a 15% net profits royalty payable to the bankrupt US subsidiaries' estate to a maximum of $90 million over an up to nine year period; this is a joke! I hope!
I think, I will go buy a new FERRARI for $15 dollars and insure that I do not need to pay any tax because I will do this transaction in the C. Islands.
Read more here: http://www.sacbee.com/2013/04/29/5381376/great-basin-gold-limited-updates.html#storylink=cpy
What a rip off IMHO GBGLF shareholders!
Sincerely,
Golden~Polar~Bear
PS I see Burnstone going for 300 million and each GBGLF shareholder being compensated .ooo5 pps No joke! This is getting ugly!
Waterton is known for JVs
http://www.watertonglobalresource.com/?attachment_id=523
Why did they not just send Barrick in to purchase Hollister Mine?
Still praying for a last-minute JV deal with Waterton? Miracles rarely happen and we need one right about now!
Who wants 15 million for all of our Nevada assets and Hollister? LOL!
Cheers,
GPB
A Horrible Deal 15M ONLY!
& 90M Royalties to be dispered over 9 years for Hollister. LOL!
I thought Waterton wanted a JV not an outright purchase (THERE MUST BE MORE TO THIS DEAL OR WE GOT ROYALLY *%$#). If Hollister is 100% disposed of, for just a little over 100 million we gave our billion dollar diamond in the rough to Waterton/Barrick. This should have been a JV; what went wrong; who negotiated this disaster? Ron Thiessen?
http://www.newswire.ca/en/story/1154923/great-basin-gold-limited-updates-insolvency-proceedings
I doubt at this point that we will fare well, if our Burnstone Mine is simply sold. There are just too many shell games in the Cayman Islands & Virgin Islands that can be played prior to any shareholders seeing a penny per GBGLF share so... Do not hold your breath.
IMHO our only hope was Hollister and if we have lost all of our Nevada assets; it is not looking good. I will hang on, until the bitter end, only because I can easily afford to lose the money.
Burnstone Mine has been offline for months so the value will be very low IMHO. We need an ABG Burnstone Mine JV or the like, for any form of real future financial success again IMHO!
This is looking like almost a total washout.
Wish I could be more positive! We are going to need a miracle like Waterton mentioning a JV with Hollister at the last minute negotiations or a very high bid for Burnstone Mine to walk away with any real $$$
Cheers,
GPB
PS Hope I am wrong; time for some Scotch!
Great Basin Gold Update Your Website!
Millions will be lost and made with the outcome of the auctions and varied transactions. They can make no errors on their next few PRESS RELEASES so I think they will take their time and get this right!
Waterton Global Resources has Klondex Mines under their umbrella etc.
Mike Doolin works for Klondex and not the GBG Nevada Team? Hmmm??
"General Manager
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."
I thought Mike was still working at Hollister Mine & our Esmeralda Mill site?
http://www.klondexmines.com/s/management-team.asp
Why is he still listed as working for GBG?
"Mike Doolin is the Mill Manager responsible for the Esmeralda Mill site. In the past 25 years he has held the positions of Plant Manager, Senior Metallurgist and Plant Metallurgist in precious metals processing. Prior to joining Great Basin Gold, he was the Project Manager and Metallurgist for McClelland Laboratories, Inc. Mr. Doolin holds a B.S. degree in Metallurgical Engineering and Chemistry from Montana College of Mineral Science and Technology."
http://www.greatbasingold.com/nevada_team.cfm
Who else has left our GBG Nevada Team?
Cheers,
Golden~Polar~Bear
PS I did not want this message to be lost just quite yet so I have reposted it; please forgive me if this is old news for you!
Waterton Global Value L.P.
Who wants to do DD on one of our new parent companies (Waterton Global Value L.P. etc.) ? In the British Virgin Islands!
https://www.avoxdata.com/portal/entities;jsessionid=4C2359F9DCCB9BD58ABE3F94ECD76F26/26226006
I still think Waterton Global Resources (Waterton Global Value L.P. BVI) will be very equitable with the GBG Team and shareholders. We have no other real option and we are lucky to have any options IMHO!
Personally, I love the varied white sand beaches and the turquoise ocean water in the BVIs!
Cheers,
GPB
PS I am swamped or I would do it so HELP!...
Yes .14 GBG pps by December!
There will be a battle regarding the GBG PPS!
It will focus on the price of gold, since Septemeber =, has Hollister run a slightly profitable trial mining phase and what did Burnstone sell for or who are we JVing with?
If Hollister is not running at a profit even with all of their new high priced and highly educated employees and the price of gold plunges we are done!
Cheers,
GPB
I Love BAY STREET in Toronto, Canada!
Why?
It is the heart of the financial district of Canada and extremely neat, clean and organized. Think of it as the Wall Street area of the North but far safer to do business in. Canadians tend to be very realistic with their business ventures and conservative! My type of people IMHO.
This area is loaded with very powerful Canadian and International Bank office towers & skyscrapers.
Everyone goes to the same overpriced steakhouses, restaurants and coffee houses so... I love Wayne Gretzks Bar/restaurant http://gretzkys.com/ It is in the entertainment district relatively close to Bay St. maybe a five minute walk so..
If Great Basin Gold is considered a good play well. IMO, we will go from zeroz to minor Heroz in 2013!
Cheers,
Golden Polar Bear
PS Every bit of info is helpful Tamaman et al. and the Waterton Team will get along well with our GBG Nevada Team; I love doing business in Toronto so...let's hope for a .14 pps level asap
If The Gold Price Plunges!
Below $1200 USD and holds we are doomed and Waterton or Credit Suisse etc. will let us fall into full bankrupcty. There will be no other choice so... There is a real potential downside...[b]Unfortunately!
Sadly I have learned, our new partner Waterton/Barrick will not be able to allow us to use Barrick Gold Mills etc. without huge financial charges. Waterton is in this to make money so expect some financial pain for GBG in 2013-2014.
Cheers,
Golden Polar Bear
PS I still think Barrick wants to fully acquire Hollister so do not expect too much help from Waterton. Why Waterton Global Resources/Barrick Gold are helping us is truly beyond me. As a former VP of a well established company I must admit I was always a little pleased to see a competitor go BK so...
Extremely Risky Move GBG!
"Yep, use auction to prove worth for a loan." wrote RBKMAS.
GBG is playing the all or nothing game or the zero to hero game!
They will only win this game if gold at least bounces to and holds above $1500 USD and at $1600 I know we will go from zeroz to HERO$$$ !
Cheers,
GPB
PS Praying to see the price of gold to bounce asap.
Great Basin Gold Update Your Website!
Millions will be lost and made with the outcome of the auctions and varied transactions. They can make no errors on their next few PRESS RELEASES so I think they will take their time and get this right!
Waterton Global Resources has Klondex Mines under their umbrella etc.
Mike Doolin works for Klondex and not the GBG Nevada Team? Hmmm??
"General Manager
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."
I thought Mike was still working at Hollister Mine & our Esmeralda Mill site?
http://www.klondexmines.com/s/management-team.asp
Why is he still listed as working for GBG?
"Mike Doolin is the Mill Manager responsible for the Esmeralda Mill site. In the past 25 years he has held the positions of Plant Manager, Senior Metallurgist and Plant Metallurgist in precious metals processing. Prior to joining Great Basin Gold, he was the Project Manager and Metallurgist for McClelland Laboratories, Inc. Mr. Doolin holds a B.S. degree in Metallurgical Engineering and Chemistry from Montana College of Mineral Science and Technology."
http://www.greatbasingold.com/nevada_team.cfm
Who else has left our GBG Nevada Team?
Cheers,
GPB
Actually, this analyst's prediction was just posted within the last 48 hours. How do I know, well I have been monitoring CNN Money for nonths; they have helped me make and lose a little money in the past. This is the first analyst to put their neck on the line for GBGLF so imagine if the prediction is only have right; we should reach the .15 pps this year. If the gold price plunges this year, I think we are done. If it bounces over $1600 and holds, I think .30 GBGLF pps is attainable.
Cheers,
Golden Polar Bear
The 1 analyst offering 12-month price forecasts for Great Basin Gold Ltd have a median target of 0.30, with a high estimate of 0.30 and a low estimate of 0.30. The median estimate represents a +2,900.00% increase from the last price of 0.01.
money.cnn.com/quote/forecast/forecast.html?symb=GBGLF
Waterton has Florida Canyon Mine & Standard Gold Mine are under the Waterton Global Resources/Barrick Gold Portfolio
insidenorthernnevada.com/main.asp?SectionID=30&SubSectionID=161&ArticleID=1233
There is no lack of funds, so now, if only Hollister Mine can quickly earn their Final EIS and get into Commercial GOLD & SILVER Production and end the trial exploration mining phase they are now in, possibly our GBGLF price per share may go to .03?
OR better yet .30 pps paying bi-annual dividends in the nickle range!
Cheers,
Golden Polar Bear
PS I still cannot believe Waterton Global Resources has decided to help us out of our financial mess and in 2015 we will all be seeing $$$ !!!
Waterton Global Resources has Klondex Mines under their umbrella etc.
Mike Doolin works for Klondex and not the GBG Nevada Team? Hmmm??
"General Manager
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."
I thought Mike was still working at Hollister Mine & our Esmeralda Mill site?
http://www.klondexmines.com/s/management-team.asp
Why is he still listed as working for GBG?
"Mike Doolin is the Mill Manager responsible for the Esmeralda Mill site. In the past 25 years he has held the positions of Plant Manager, Senior Metallurgist and Plant Metallurgist in precious metals processing. Prior to joining Great Basin Gold, he was the Project Manager and Metallurgist for McClelland Laboratories, Inc. Mr. Doolin holds a B.S. degree in Metallurgical Engineering and Chemistry from Montana College of Mineral Science and Technology."
http://www.greatbasingold.com/nevada_team.cfm
Who else has left our GBG Nevada Team?
Cheers,
GPB
PS Seriously, it is time for Great Basin Gold to update their outdated website!!!
I think, we will see Hollister Mine as a JV for Barrick Gold & GBG within 3 years or under that umbrella via Waterton Global Resources.
A large chunk of our profits will go to Waterton. Do not expect the pps to do a large bounce for two years unless the price of gold goes well over $1600 USD and holds.
FYI, this is interesting IMO!
WATCH THIS!
www.b-tv.com/features/watch-now.html?clip=WatertonEp277.wmv
I hope our Waterton/Barrick Gold/GBG Nevada Team will perform very well in 2013?
Cheers,
Golden Polar Bear
PS Cheryl Brandon stated on BTV..."Quality companies wih talented management teams will outperform their peers in the long term."
I concur, I am thinking a little closer to .05 pps in June and .20 pps and a bi-annual one+ cent dividend in 2015.
Waterton/Barrick Gold is going to make this a little painful and take a huge slice and so they should. It was not Waterton Global Resources/Barrick Gold who mismanaged our hard earned GBG funds with their shell games in the Cayman Islands and too numerous to mention numbered companies.
I am not looking for a huge bounce on this until 2015 when the hopefully, our well organized Waterton/Barrick Gold/GBG Nevada Team ensures that we are ...
I just pray that the Waterton/Barrick/GBG Nevada Team is up to the task and is willing to put in a little extra hard work to ensure a successful outcome for all of us?
Cheers,
GPB
PS If this Waterton/Barrick/GBG Team cannot have success with these gold resources...? It was not meant to ever be successful.
"Waterton Global’s investment philosophy is distinguished by the belief that relationships come first. Our success is built on the relationships we have fostered, and we continue to invest in relationships up-front, with a long-term view. By selecting partner companies with whom we can build enduring relationships, we are able to eliminate inefficiencies and get maximum value by tailoring to the needs of a partner we understand. Knowing your partner means less red tape, more efficient processes, and the capacity to respond quickly and flexibly in a dynamic market. We look out for our partners, and leverage our established global network to ensure their continued success...." quoted from
http://www.watertonglobalresource.com/?attachment_id=523
We should be thanking Waterton profusely!
Waterton is amazing and extremely equitable and reali$tic!
Cheers,
Golden Polar Bear
PS This is going to be huge within two year$!
Waterton "...has $1 billion to invest in precious-metals projects..."
"Mar. 18, 2013 - NEW YORK -- Bloomberg recently reported* that Waterton Global Resource Management is prepared to deploy billions of dollars into the mining industry . Waterton’s strategic decision is based on historically low valuations for mining companies coupled with declining sources of equity capital available for project development."
www.prlog.org/12100682-waterton-global-resources-ready-to-deploy.html
Reread my statement and try to comprehend it?
Barrick's stock is considered by many investors to be an extremely boring overpriced stock. Not easy to get rich with this one.
Thus we have Waterton with many reasonably priced junior and intermediate mining stocks that are on the rise. Many investors are drawn like flies to reasonably priced stocks with decent or above average dividends so...
Barrick = Waterton and if we are provided with a reasonable JV well $$$ you do the math!
Cheers,
Golden Polar Bear
PS If we are fortunate Hollister will be posted on this website as a JV in three years http://www.barrick.com/operations/north-america/default.aspx ON THE BOTTON RIGHT!
I concur!
Praying for a JV with Hollister & Waterton and possibly the same with ABG African Barrick Gold for the Burnstone Mine etc. I know that Barrick and AFB are not, as close as one might assume; However?
IF we do not get a JV ;-(
Waterton exists so Barrick can compete with the risky junior miners that are presently often out performing them. Investors just want to see share prices rising and decent dividend yields and on this front Baririck is being outperformed and they want to compete on a level playing field thus we have Waterton.
Barrick = Waterton which = $$$ if we get a reasonable JV???
The Bellagio Pool Party is not that far off on the horizon...
Cheers,
Golden Polar Bear
PS We could not have gotten a better or more reliable partner IMHO; I love Barrick Gold/Waterton!
Why NOT?
Are you not from Toronto?
Why not visit Waterton's main office on Bay St? Contact them via email with your concerns or better yet your aspirations.
I love being associated with winners and Barrick Gold & Waterton are defintiely in that club so...think what you want.
When this transaction is done. You will, in the future, be able to afford Stanley Cup tickets; unfortunately, we all know the Leafs are... :~(
Cheers & ciao,
GPB
PS This is going to be highly profitable pour moi IMHO!
Finbar, thank you for the well written opinion and I completely concur with you.
As I already stated; luckily, I can afford to lose the $40,000.00
This is a really long shot. I am hoping for a JV with Waterton regarding only Hollister; I have some very positive info on them so...!
If this was simply a cash deal during the Rodeo Creek/Hollister auction; I highly doubt the GBGLF shareholders will be rewarded.
Wish us all the luck of the Iri$$$h,
Golden~Polar~Bear
PS Please remember some of us have a lot to gain from this transaction so if you wish to be negative; please back up your thoughts with facts and I know probably we will humbly accept them.
"Waterton Global Resource Management is a Toronto-based, resource-focused investment fund. We foster long-term partnerships with companies who have proven world-class potential & enduring growth prospects."
Golden Wooden Indian, I am out of powder this month at 4 million GBGLF shares. I will hold these shares until at least December...I am wishing us all, even dearest O'Finny, the luck of the Iri$$$$h.
http://www.watertonglobalresource.com/finance-team/ken-strobbe-p-eng-senior-mining-engineer/
Quoted from the Waterton website..."Our internal project evaluations group formerly was responsible for evaluating and vetting all asset acquisitions for Barrick Gold Corporation (NYSE:ABX), the world’s largest gold producer...."
www.watertonglobalresource.com/about-waterton/
Have a great weekend,
GPB
Barrick Gold / Waterton Global
Will ensure that we promptly earn a Final EIS from the state of Nevada.
Have a great weekend,
GPB
PS Waterton Global Resources, WOW! This is going to be $$$ !
Finette, please just go to another board where your snide comments and ideas might be appreciated and even tolerated?
Thank you,
GPB