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Any theories as to why neither of these side deals were referenced in the governing instruments that transferred both assets to the buyers...where both conveyances occurred under court supervised processes and the omissions would be insanely illegal?
What matters for Sibanye - not for GBGLF as they have no further interest in Burnstone - is the cost to get the gold from down in the ground to the surface. They will face the same problem the former owner faced - the mine has geological faults that were not known when the mine development plan was made and those faults, given the approach to the ore body are going to make that gold very expensive to extract.
The market for miners is worse now than it was two years ago. GBGLF ran out runway - everything has been sold. It is as they say kaput. Part of me really admires you guys and your ability to disregard the facts and keep living your dream...finding hope in font size changes and lines and bars appearing and disappearing on websites as well as pointing to no remaining volume as something good and promising about tomorrow. I think very few people are capable of this feat, certainly not me.
It's a 'mine' - and they already did that - over 2 years ago.....it didn't work.
>>This share price will explode if Sibanye and Neal Froneman are going to support GBG not just with $100 million USD ....
Or if GBGLF discovers a cure for cancer....it's probably equally as likely.
This is moving way beyond comical to being just outright sad. Have you ever tried the wayback machine GPB? You can plug in a page and view historical caches - this page you speak of dates back to '12.
http://web.archive.org/web/*/http://www.greatbasingold.com/c_contactus/*
>>SO you still haven't provided any DD....
But I have - I posted 1) the Plan of Liquidation for Hollister that says GBGLF no longer has ownership, 2) the statement of the liquidator that all employees, mgmt and board members resigned eons ago 3) and the S.A. rescue plan that shows Burnstone has passed to new owners. You tell me what's left other than a mountain of creditor claims that are going to go unsatisfied and some alleged font size changes on the website.
>>The fonts have been altered, for what reason?
I think you guys have finally found the smoking gun.
>>Why is YellowPages in Nevada advertising defunct or bankrupt companies?
Your logic is like a titanium bear trap GPB. We should ignore all the monitor reports from CCAA, the published comments from the liquidator and the approved Ch 11 Plan of Liquidation and presume that because yellowpages has a listing, they are possibly not defunct and bankrupt, or that there is something more than meets the eye? DD is not supposed to invoke the willing suspension of disbelief (that's for reading science fiction).
>> By simply not updating the GBG website shareholders are left to conclude this company is in dire straights which with my varied forms of DD I do not believe for a moment is the case
Thanks GPB - that will no doubt still be the most ridiculous thing I've read by the end if the day. All assets sold, hundreds of millions in debt still owing....what exactly constitutes 'dire' in your book?
Incredibly, this analyst, who has no name, is drinking even more delusion juice than the regulars on this board.
>>Who wants to chat with them via Skype?
I'd suggest a site visit....maybe that's where GBGLF has hidden all it's gold....lmao
>>Bear made a point, why would there be South African Business recovery if shareholders were not included Fin?
It's a rescue for creditors - so that they get more than they otherwise would have - but they are still taking a huge haircut.
>>The only question now is will any GBGLF shareholders be rewarded?
How is that a question at this point?
>>Fin, you told us in your expert opinion that GBG would stop trading how many times now....I'm confused, so when is it then...
No, I've told you the shares are worthless - you are the one who mistakes continued trading for anything other than that.
>>We've been holding on for the longest time yet, we haven't seen any real volume, why is that, since you state that you know more than us...
It's because there are very few fools left who haven't figured out that a shell in receivership, with no assets, no employees, no mgmt, no board but only lots of unpayable debt remaining on the books makes the true value zero.
"The GBG mystery is still alive at least for another quarter".....it is in your mind, and the minds of a few others....I suspect it will remain that way for more than a quarter - after all if you haven't figured out what happened yet, when will you? Lol
Valence was an empty shell, just as GBGLF is now.
LOL. You know what's probably going to happen here? Look at VLNCQ. It was worthless as the plan cancelled everything middle of last year. But suckers continued to trade it, and then last week it popped from .005 range up to .03-.05 range.....and then trading was halted forever, and everyone was left holding the bag in perpetuity. (Ihub even dropped the board so there was no commiserating to be had, or in my case, the opportunity for a final 'I told you so'.)
Supermoney1 - I see your deductive reasoning skills are about as strong as your stock picking skills. I don't 'hope' GBG is dead forever, but it is nonetheless. I happen to believe that stock message boards are a very powerful tool for the retail investor and I believe their integrity should be maintained. If you find this 'sick', I think your priorities are misguided at best.
GBGLF didn't have 4 mm to lose. That money was 'loaned' by CS to maintain their collateral while the deal closed.
GBGLF doesn't own Hollister. Waterton owns it and the creditors own the NPI. I've posted the Plan of Liquidation for Rodeo Creek on here within the last two weeks. Your attempts to sucker people are shameless.
>>The GBG BRP and South African court has already ensured GBGLF success
They've done nothing of the sort. I suspect you are trying to find an unsuspecting home for all your millions of worthless shares. Good luck with that.
Why would they violate their fiduciary duties to their shareholders to give free money to you? Answer: they won't, nor should they.
Sibanye bought the sub that holds the licenses, Great Basin now all hollow shell with nothing but unpaid liabilities.
>>The conservative value of GBG is $600 million which is far more than it's current liabilities.
Please list for me the assets still owned by GBG that are conservatively worth $600 million.
>>This stock will POP, no EXPLODE if Neal Froneman and Sibanye Gold are now providing GBG with guided assistance!
Who would they be guiding at GBG? There are no directors, no mgmt, no employees left.
You can sell the shares in Venezuela in the black market, but only in certificate form....they ran out if toilet paper down there many months ago.
Does your tinfoil crown pick up pay per view broadcasts?
22. The Receiver’s primary mandate is to assist the BRP with the realization of the Burnstone Property for the benefit of the Lenders.....are you a lender.
You know just enough to be dangerous. Chapter 11 is for both reorganization and liquidation. The difference between Chapter 11 and Chapter 7 is that under a Chapter 11 liquidation, mgmt remains in control during the proceeding, whereas under Chapter 7 a court appointed trustee runs the show.
http://www.phaseeleven.com/site/epage/76756_802.htm
Here it is - it's been out for almost a year. With all your 'DD', I'm surprised you missed it. http://cases.gcginc.com/rodeocreekgold/pdflib/431_50301.pdf
>>What has Ron done with the $15 million?
Oh my, do you really not understand how bankruptcy works? Ron didn't get 15 million to do with as he pleased. If you really want to know (I suspect you don't) - go pull the Rodeo Creek plan of liquidation
What is the point of posting a 2012 mine plan when the operation was sold in 2013?
Denial, it's not just a river in Egypt
I think a press release from the receiver stating that ALL directors and officers of GBG and all of her subs resigned in June of 13 is about as definitive as it gets. You guys really crack me up - this is almost like a religion at this point, no?
Yes I have a link - I've posted it here more than once - like always, you conveniently like to forget it.
http://www.marketwired.com/press-release/great-basin-gold-limited-announces-appointment-receiver-concurrent-resignation-all-directors-1807214.htm
The most pertinent part "Consequent upon the appointment of the Receiver, all directors and officers of the Company and its subsidiaries have resigned effective immediately."
I'm not guessing, that was satire.
Aurora mining district is beautiful - was up there two years ago. Mark Twain wrote 'Roughing It' about his days as a miner in the district.
Ron Theissen has been removed from Great Basin....but the map hasn't, go figure. My guess is that with zero employees left, there is noone to do it. But the map on the website probably means that the sale of Hollister to Waterton in BK court probably didn't happen last year....yeah, that's the ticket. lol
The huge loss came from the impairment they had to take when the World Gold Council changed their long term gold price targets. They had a huge gain the year before when they upped them, then reversed it when they moved it back down - it's just IFRS accounting mumbo jumbo. Look at the cash flow.
RB - the irony of you believing in Great Basin and suggesting I go back to trading school is priceless. Thanks for the laugh.