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Not much, but yes :/
YUP, right now it is trading as if the shareholders are only going to get 20M from the mines when it is all said and done....
I never thought this would happen. Alright Ci-Error, double us up
$FB to try one more time to break 32.50 today.
$DECK Symmetrical triangles with rising trends breakout to the north 75% of the time. If this is the case should break north and possibly test the 200dma at 44. I am just saying this from looking at the chart, I know nothing of the fundamentals...
$FB calls should be profitable up to earnings. Premiums are high, but should remain in tact with the options next week expiring (2/1) a day after ER (1/30). If FB doesnt break the R at 31.50 and pulls back today it will be a great opp to buy imo. Once 31.50 breaks its should run pretty good.
FB WC34 2/1 ER (1/30) play .57 (2)
SINA if SINA touches 59 area today it should break 60 before expiration. If it breaks 60 it could go on a mad run
SINA broke yesterdays R of HOD. Lets see if it can get some legs. Pretty good sign considering the sector took a big hit with AAPL
SINA beat down afterhours
SINA showing strength going into close today. Should test the HOD. Much better than yesterdays fade.
SINA good deal, I think we may need a little more chatter to send this over $60 by weeks end
SINA Corporation (Nasdaq:SINA) has been reiterated by TheStreet Ratings as a hold with a ratings score of C- . The company's strengths can be seen in multiple areas, such as its compelling growth in net income, revenue growth and largely solid financial position with reasonable debt levels by most measures. However, as a counter to these strengths, we find that the stock has had a generally disappointing performance in the past year.
http://www.thestreet.com/story/11820048/1/sina-corporation-stock-hold-recommendation-reiterated-sina.html?puc=yahoo&cm_ven=YAHOO
Bought a bunch the same day you did, in fact I think we got all of the .05s. Lets see how it reacts in the overbought region, only concern
BPT March 95C are starting to look within reach. Lets see if we can break $80 today. Made a solid $5/week move so far this year
JPM $50C march, 1500 volume just went through
It is being sold - they are looking for a stalking horse bidder to start the process
Sorry I thought most knew where the reports were at.
http://www.kpmg.com/ca/en/services/advisory/transactionrestructuring/creditorlinksites/great-basin-gold/pages/default.aspx
There will be no assets to go after
New monitors report is out. Looks like the plan is to sell it all. That was a fun ride.
SMAA .037x.038, good healthy pull back. With SSGI off the ask it will rebound nicely
We should have another monitor report shortly. Next creditor meeting minutes arent due until the end of January
Hollister mine has not been written down since it was placed on the books of GBG. I would have to assume that was because former management knew with the assets that existed, it would take a hit. Management now is coming in and doing what they were paid to do, I expected this. Dombrowski has proven very clever at finding outside funding. I am hoping he can find a way to make it worth while to expand the mine and make it profitable to tap into the resources that are there that have been written down to expand the life back out.
Tex - as far as the trading value, GBG imo has two obvious trading catalysts in the near future - the sale/jv and the funding source for the above mentioned. I still think this will trade higher on open with large spikes in sp upon announcement of aforementioned.
That is a good point. I believe it is still listed on the American exchange, just halted. Needs a Canadian home to continue trading
The same way the short position has gone from 5.7M on 9/28 to 4.1M on 11/30.
This process will provide independent valuations of the mines and they will be public. Investors will be confident in these valuations and hopefully we get some good numbers. The share price should immediately reflect that on resumption. COnfidence will be there since we wont have CEOs pumping stock price for equity raises. Look forward to hearing from the new CEO
The guy is a home run hitter. I admit, I am a little surprised he took the GBG gig.
I did read a post that one person calculated he was compensated .474 a share. I beleive when it stopped trading it was around .30-.35 - but it traded throughout the proceedings....grrrr
They were different, but I was basing it on the new CEO Dombrowski brought Chemtura out and may look to go in similar direction with GBG.
I did a little research on the Chemtura re-emergence from bankruptcy. It looks like it took shareholders about 2 years to recover their money for the Q stock. They said they made some money, but it was really difficult decifering how much on their board.
Latest article on GBG. "A market source said Gold One had indicated interest in buying Burnstone, but at a price well below what the company wanted to realise for it."
"Copper Eagle has signed a four-month toll treatment deal with Burnstone. It has first option at the end of that time to buy the mine, a Copper Eagle official said on Tuesday."
http://www.bdlive.co.za/business/mining/2012/12/04/insolvency-experts-now-running-great-basin
Big fan that they went with insolvency experts vs someone who would come in and tear the company apart to benefit the noteholders.
Looking forward to the independant appraisal. I do not expect it to come in as high as what they realize it on the books as, strictly based on one of the monitor reports stating that they have never adjusted the assets worth since inception.
Did you see the interim CEO and CFO are making $800 and $600 an hour respectively? Good God. My shares will fund them for one 8 hr day
Interesting. Last day of trading was 9/14/12
Lou stops collecting a pay check on the 30th. He'll still be around as needed to close the deal - this is documented in the monitor reports. Business people are in charge of this now.
Wits Gold looking at buying Burnstone mine. I think C-ara mentioned this but I dont ever remember reading it in actual print.
Philip Kotze, CEO of Wits Gold, said this strategy was intact, and that the company had kicked the tyres of Burnstone, an underground mine in Mpumalanga province currently owned by Great Basin Gold, a failed gold junior which is now the subject of business rescue proceedings.
"It is something [Burnstone] we have looked at," said Kotze. "We can't say much about the mine because the company is in business rescue proceedings," he added. Kotze said the company was also on the lookout for other opportunities but that it would not overpay.
http://www.miningmx.com/page/news/gold_and_silver/1463914-Renowned-gold-bull-flies-to-defence-of-Wits-Gold#.ULT2W9cu1VU
Van den Steen's rescue plan. Heres a recent article on how he turned around a mine in SA that was in CCAA protection. Took 5.5 months. Very promising. Lets see if he can work his magic again.
http://mg.co.za/article/2012-11-23-00-a-recipe-for-rescuing-gold-mines
Keeping the financials up to date. Obviously necessary for sale of company/jv etc, but also necessary for them to relist. Dec. 15th the deadline to accept an offer for Burnstone or else Hollister goes on the market. Currently they are only under protection until Jan 15th under CCAA law in South Africa. Lets see if that is extended. Hope they apply to regain trading status under a Canadian exchange. Being a company from British Columbia, this may be what is stopping the stock from trading. Heads up, cheers.
I bought more today. Thats my story and Im sticking to it. The company isnt in BK its subsidary is - I know you know this RB. I am interested in seeing how this plays out. Its more fun talking about porn star tarot card readers than it is bickering, and that is what this board has decided to do. Sorry recolect, our rules, you should play along, its a lot more fun
So I think our next trading catalyst is the sale of burnstone. Thats the only thing that makes sense to me is they are waiting until the sale is finalized to avoid any type of hostile takeover/negotiation sticking points. If I understand it correctly they have extended the required deal date from Dec 15th to Jan 15th.
So it looks like they have extended the forced sale of Burnstone from 12/15 to 1/15 and appointed JP Morgan to handle it. Looks like everyone is cooperating very well. The notes shoot a hole in C-ara's joint venture call today. Things look good. Lets trade this beast