Follow me via twitter ~ raymu6
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.
looks like a nice entry pt right now
Awful, I hate reading sh$t like this. I hope they are able to get back on track but I don't put much weight on this happening.
Good post, 100% agree w ur thoughts. I know one thing, I will be holding all my shares until either there is another buyout or the share price breaks above $1
I do wish we could atleast get a hint of the pamco issue & where it stands, if we don't hear anything by this winter, when I get alil less busy, I will make it my mission to extract some info & post it on the board.
Wish all goodluck who hold CHCC
Someone will, just a matter of time patience her will pay. Anyone on this board ever talk to the company?
Great add, in time this will payout for all who buy down here...
Jmo
Good post, 100% agree w ur thoughts. I know one thing, I will be holding all my shares until either there is another buyout or the share price breaks above $1
I do wish we could atleast get a hint of the pamco issue & where it stands, if we don't hear anything by this winter, when I get alil less busy, I will make it my mission to extract some info & post it on the board.
Wish all goodluck who hold CHCC
Have u tried calling her lately or ever talk to her?
Agreed, It's going to blow hard next week, good news brewing & its great ur here. U have knack for getting in right at the perfect time..props...
Good post...thats how I see this as well
20+ mil in volume already!!
IRCE $.001 Breakout HUGE HITS...Gas Pipeline sold News Coming out??
IRCE $.0009 Breaking Out, News coming out on sale of Gas Pipeline...
I would think News is coming out shortly....is it sold?
The trustee in charge of MF Global Holdings Ltd. (MFGLQ) is suing Breakwater Trading LLC, saying the Treasurys-trading firm owes $8.3 million plus interest for loans MF Global made to help Breakwater cover its margin accounts.
In a Friday filing with U.S. Bankruptcy Court in Manhattan, the trustee, Louis J. Freeh, said MF Global made a written demand to Chicago-based Breakwater for the money on Sept. 14.
"Breakwater, however, has refused to comply with its clear contractual obligation to repay the money it borrowed from [MF Global]," lawyers for Mr. Freeh said in the filing.
A message left with a Breakwater associate wasn't immediately returned.
Over the summer, Breakwater cut about half its staff, including its chief executive, after a big trading loss, according to published reports.
The complaint is the latest in a series of suits Mr. Freeh has filed in recent weeks against MF Global's trading-firm counterparties. Mr. Freeh, whose legal team has racked up $36 million in fees during its eight months working on the case, has also sued Chopper Trading LLC and Liger Investments Ltd. during the past month, for lesser amounts.
According to Mr. Freeh, MF Global financing subsidiary MF Global Finance USA Inc. periodically lent money to Breakwater to cover the firm's margin requirements.
Mr. Freeh, a former director of the Federal Bureau of Investigation, is overseeing MF Global Holdings, which filed for Chapter 11 protection last fall. His role is different from that of James W. Giddens, the trustee unwinding MF Global's brokerage, although it is possible that Mr. Freeh will pursue claims against the brokerage as an individual customer, which typically gets paid ahead of other creditors in a brokerage liquidation.
Mr. Giddens has recovered about $5.3 billion of the $5.5 billion to $6 billion in U.S. customers' segregated funds held at the brokerage and has returned more than $4.7 billion to customers via a series of bulk transfers arranged by CME in the weeks following MF Global's demise last year, as well as interim distributions. Despite the return of that money, he still estimates a $1.6 billion shortfall in customer accounts, money that should have been matched dollar for dollar.
In separate reports earlier this year, Mr. Giddens criticized the sovereign-debt investments that drove MF Global out of business and said he might pursue claims against the man who directed those bets, former Chief Executive Jon Corzine. Mr. Freeh's report said the parent might have about $2.3 billion in claims against the brokerage business.
(Dow Jones Daily Bankruptcy Review covers news about distressed companies and those under bankruptcy protection. Go to http://dbr.dowjones.com)
I saw ATDF on the ASK late today and VERT on the BID all week
ATDF had small lot showing, then it increased all of a sudden about a mil more, so it looks like retail to me based on this...
Loaded some, will grab more if the opportunity ever presents itself..:)
LUXD should be a winner in 2013
I just loaded a few, Im not scared of a small split...could be our good olde pal Kramer needing some lunch money too
who's doing all the selling lately here, any ideas?
MF Global Trustee Freeh to Allow Extended Probe of Records
The trustee in charge of MF Global Holdings Ltd. (MFGLQ) said he will allow the U.S. government and the trustee unwinding the company's failed brokerage, MF Global Inc., to go further back in their investigation into the company's books concerning segregated funds, which still have a reported shortfall of more than $1 billion.
In a Wednesday filing with U.S. Bankruptcy Court in Manhattan, the trustee, Louis J. Freeh, said he will waive attorney-client privilege and turn over documents and other information about MF Global's segregated accounts from the period of July 1, 2011, until the company's Oct. 31, 2011, bankruptcy filing. Previously, he had agreed to open MF Global's books for the two-week period leading up to its bankruptcy.
A spokesman for James W. Giddens, the trustee unwinding the brokerage, said his office has been in "regular communication" with Mr. Freeh's office.
"The trustee and Judge Freeh are cooperating to the greatest extent possible," said the spokesman, Kent Jarrell, referring to Mr. Freeh's time as a federal judge. The two trustees have had some disagreements throughout the case, but Mr. Jarrell called the filing "another step in the ongoing cooperation" between the two.
A judge will consider approving the stipulation at an Oct. 11 hearing.
Mr. Giddens has recovered about $5.3 billion of the $5.5 billion to $6 billion in U.S. customers' segregated funds held at the brokerage and has returned more than $4.7 billion to customers via a series of bulk transfers arranged by CME Group Inc. (CME) in the weeks following MF Global's demise last year, as well as interim distributions. Despite the return of that money, he still estimates a $1.6 billion shortfall in customer accounts, money that should have been matched dollar for dollar. Mr. Giddens, as well as regulators, has been investigating the shortfall since the beginning of MF Global's bankruptcy case.
Mr. Giddens is winding down MF Global's broker-dealer business under the authority of the Securities Investor Protection Act, which governs the liquidation of failed brokerage firms. The liquidation is separate from the bankruptcy case of MF Global Holdings, the parent company, which filed for Chapter 11 protection last fall. That estate is now being overseen by Mr. Freeh, a former director of the Federal Bureau of Investigation.
In separate reports earlier this year, Mr. Giddens criticized the sovereign-debt investments that drove MF Global out of business and said he might pursue claims against the man who directed those bets, former Chief Executive Jon S. Corzine. Mr. Freeh's report said the parent might have about $2.3 billion in claims against the brokerage business.
(Dow Jones Daily Bankruptcy Review covers news about distressed companies and those under bankruptcy protection. Go to http://dbr.dowjones.com)
Write to Joseph Checkler at joseph.checkler@dowjones.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
I think there will be an update someday, just not sure if its months or years away, I agree that this is basically a shell at this pt though too and nothing to update b/c nothings going on but it might be a R/M candidate....We'll see. I'm only holding a small bit....
Says rescheduled for 2012 but doubt that will happen. If peeps have enough patience I think most people will get out of this, with the small SS it could have small pop to .003 area again someday w right group pushing. I've written it off but you never know....
Be great to get an update from the company as well.
Great find EB, thanks for the update and info. I think we might have something here by end of this yr....all depends on how fast the cleanup goes :)
Grabbed starter today, looking for more news to follow shortly
They should give us more than that but I will take anything at this pt now.
Has anyone ever tried calling or emailing this company?
been watching from the pine for months, might be worth a small gamble down here at some pt?
agreed, just grabbed a few more
FCGD $.0014 Only 43.5mil O/S ~ TINY FLOAT!!!
FCGD $.0013 TINY FLOAT!! ON ALERT!!
I think the promoter was def a big part of the problem and the ones who have been selling most of these shares the past months. Need to check w the TA to find out if the SS has changed, anyone been in contact in the last week or so?
Nice bid support back on PCXCQ at $.12/sh Should be hearing something very soon imo
Great Basin Gold Updates Insolvency Proceedings and DIP Loan Status
Oct 4, 2012 18:56:00 (ET)
JOHANNESBURG, SA, Oct. 4, 2012 /PRNewswire via COMTEX/ -- Great Basin Gold Ltd. ("Great Basin Gold"), (nyse mkt:GBG)(jse:GBG) announces that further to its news release of September 20, 2012, the $35 million debtor-in-possession loan from its current lenders ("Lender DIP Loan") authorized by the Supreme Court of British Columbia on September 19, 2012 and reaffirmed on September 27 with amendments, closed on October 3, 2012. An initial utilisation of US$14,235,000 under the Lender DIP Loan has now been advanced of which approximately US$9,235,000 was used to pay down the emergency loan advanced by the lenders on September 20 as an amendment of the existing 2010 Burnstone $150 million secured credit facility ("the 2010 Burnstone Facility").
A British Columbia appellate court has today denied an application made by an ad hoc committee of holders of the Great Basin Gold's convertible debentures ("CD Committee") for leave to appeal the September 27 decision of the British Columbia Supreme Court. The CD Committee's main objection to the Lender DIP Loan is the granting by Great Basin Gold Inc. ("GBGI"), parent of the Great Basin Gold subsidiaries in Nevada which own the Hollister and Esmeralda assets, of a guarantee (the "Guarantee") of the obligations of the 2010 Burnstone Facility, which is a requirement under the Lender DIP Loan. The British Columbia Supreme Court rejected this objection, and the British Columbia Court of Appeal today denied leave to appeal that decision. Yesterday, the CD Committee obtained from a Nevada State court a 7 day temporary restraining order ("TRO") restricting GBGI from entering into the Guarantee. The CD Committee is also seeking a receivership order against GBGI. GBGI will vigorously defend itself in the Nevada litigation.
In other developments, TSX has determined to delist the Common Shares, Debentures and Warrants (symbols:GBG)(symbols:GBG.DB and GBG.WT) (collectively, the "Securities") of the Company at the close of market on October 25, 2012 for failure to meet the continued listing requirements of TSX. The Securities will remain suspended from trading.
Lou van Vuuren CEO (interim)
Cautionary and Forward Looking Statement Information
This document contains "forward-looking statements" that were based on Great Basin's expectations, estimates and projections as of the dates as of which those statements were made. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "outlook", "anticipate", "project", "target", "believe", "estimate", "expect", "intend", "should" and similar expressions. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the Company's actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking statements. These include but are not limited to:
uncertainties related to the Company's insolvency and related legal proceedings and need for near term financing
uncertainties related to project realization values
uncertainties and costs related to the Company's exploration and development activities, such as those associated with determining whether mineral resources or reserves exist on a property;
uncertainties related to feasibility studies that provide estimates of expected or anticipated costs, expenditures and economic returns from a mining project; uncertainties related to expected production rates, timing of production and the cash and total costs of production and milling;
uncertainties related to the ability to obtain necessary licenses, permits, electricity, surface rights and title for development projects;
operating and technical difficulties in connection with mining development activities;
uncertainties related to the accuracy of our mineral reserve and mineral resource estimates and our estimates of future production and future cash and total costs of production, and the geotechnical or hydrogeological nature of ore deposits, and diminishing quantities or grades of mineral reserves;
uncertainties related to unexpected judicial or regulatory proceedings;
changes in, and the effects of, the laws, regulations and government policies affecting our mining operations, particularly laws, regulations and policies relating to
mine expansions, environmental protection and associated compliance costs arising from exploration, mine development, mine operations and mine closures;
expected effective future tax rates in jurisdictions in which our operations are located;
the protection of the health and safety of mine workers; and
mineral rights ownership in countries where our mineral deposits are located, including the effect of the Mineral and Petroleum Resources Development Act (South Africa);
changes in general economic conditions, the financial markets and in the demand and market price for gold, silver and other minerals and commodities, such as diesel fuel, coal, petroleum coke, steel, concrete, electricity and other forms of energy, mining equipment, and fluctuations in exchange rates, particularly with respect to the value of the U.S. dollar, Canadian dollar and South African rand;
unusual or unexpected formation, cave-ins, flooding, pressures, and precious metals losses (and the risk of inadequate insurance or inability to obtain insurance to cover these risks);
changes in accounting policies and methods we use to report our financial condition, including uncertainties associated with critical accounting assumptions and estimates;
environmental issues and liabilities associated with mining including processing and stock piling ore;
geopolitical uncertainty and political and economic instability in countries which we operate; and
labour strikes, work stoppages, or other interruptions to, or difficulties in, the employment of labour in markets in which we operate mines, or environmental hazards, industrial accidents or other events or occurrences, including third party interference that interrupt the production of minerals in our mines.
There is currently no certainty that Southgold Exploration (Pty) Ltd will successfully emerge from business rescue proceedings and thereby prevent liquidation.
For further information on Great Basin Gold, investors should review the Company's annual Form 40-F filing with the United States Securities and Exchange Commission www.sec.gov and home jurisdiction filings that are available at www.sedar.com .
SOURCE Great Basin Gold Ltd.
Agreed, much better...Its fine to promise things, but to have "no" timelines and/or not follow through is not! I understand alot of variables are in play here and some things are out of there control but still its no excuse and we should have more updates to know how we stand, afterall "we" as shareholders are part of the business. Maybe a light at the end of tunnel still? Maybe maybe not?
Tic toc...
Wish LIGA would say when or if they ever bought any shares back, really no way to tell unless there is some kind of proof shown, thats why this PR isnt great, hope they follow up this PR w actual shares bought and at what price and if open market or not, otherwise just a waste of time for everyone here.
What about REIT and SM? Wheres that update? Mr. Love?
Let's go! Where is the update, very frustrated w cmghf & upper management now!
I hope the CEO aka Mr. Jeff Love is looking out for his shareholders best interest here, some have been here along time only to see the share price evaporate. When is the REIT supposed to come out, are there any properties that have been sold, if so which ones & What price, what about the storage facility, has this been sold as non-performaning or performing asset now? Is the company doing anything with SM or is this on hold now? What is the long term plans for the REIT and will there be a Divi? Need a real update...bottom line here..PLEASE!
JMO's
GLTA LIGA Holders!
The overall market has been very funky the past few weeks imo...I was really hoping to see more volume into this week but so far its been a dud...wheres the update? Anyone know whats going on here?
Agreed Greg, good post, adding more here
Our patience should pay off soon if the volume continues this week & maybe we hear something from the company soon?
Sure would be the best present i could ask for, maybe buyout back on the table?
Let's hope the bid holds up here and you can get a nice, 'real' update soon than later.
Glta!