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I don't know. You may be right as well. But what about whatever valuation that has been given to the mine? The cost was higher and they had production issue and the could not afford to continue production. But there is solid asset, according to their filings. Why would they sell it so cheap? It is already around 50 million market cap combining both the companies. Whatever the outcome, its a good lesson for everyone to do your DD as much as possible before going in.
I'm in 30K at 8 cents!! And I'm not stressed. 29 potential bidder, sounds like true and also perhaps the reason why it got halted, as the company didn't want to get itself sold for so cheap. may be out of 29- some of them worked together to short it in the price range.
I am gonna drink a lot today and not drive. also got some green..
Just do whois in google and u can find who's behind what-- the guy is banned in ihub with the ID DURBAN
Domain Name: SIERRAWORLDEQUITYREVIEW.COM
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Guy Leitch
Guy Leitch
828 N GARDEN STREET
Bellingham, Washington 98225
United States
Phone: +1.3607789086
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Last modified: 2012-07-24 03:45:14 GMT
Administrative Info: (FAST-18679964)
Guy Leitch
Guy Leitch
828 N GARDEN STREET
Bellingham, Washington 98225
United States
Phone: +1.3607789086
Fax..:
Email: gleitch@live.com
Last modified: 2012-07-24 03:45:14 GMT
to keep the board more active and healthy
make it happen...only .55 -buy some more to make it even.
lol- this stock needs to fluctuate like this more often to keep the board busy
still looks good to see 48 per cent value up. gbg/lnet/thld/dvox
This is a recent news...does it make sense? Not less than 50 cents? If that happens, and lets say it sells at .54 cents- thats like 600 per cent return.
Great Basin Gold Ltd Considers Sale; CEO Resigns-Reuters
Wednesday, 15 Aug 2012 02:45pm EDT
Reuters reported that Great Basin Gold Ltd said its CEO had quit and the Company might be sold, after problems at its mines led to a cash crunch. Chief Executive Ferdi Dippenaar resigned as part of a process to consider strategic options such as a sale of the company or a portion of it, Great Basin said in a statement. Great Basin's interim CEO Lou Van Vuuren said a few parties had already shown interest for its Hollister mining project in Nevada. He said the company would need an offer of at least CAD0.50 per share to get shareholders to vote for it. Such an offer implies a premium of more than 125% to the stock's current price.
I'd be satisfied at $2
pretty tensed board! good luck everyone! I'm positive that everyone who took the risk will be rewarded. I read through their 10K/Q and heard their conference call before getting in at 0.08. Although, suspension on their developmental activity was a surprise, but I guess something's going on behind the scene which will positively surprise us all. I know its not fact that I'm talking and just emotions but that's all I have on this.
totally agree. That is why I am saying, the value of WMIH will go down temporarily as people become more and more impaitent and they think they know how to make money from other adventures. This is not the right time to add up WMIH, IMHO..But WMIH is a gold dug up somewhere..that people will take about 1 and half years from now to find..but again, among those people are the ones who'll dump it-as they think they have found other adventures from where they can find diamond. just my poker opinion.
and yes, feel free to win all the conversations in all the topics. but in reality, show something by winning. I am still LONG to tell you all that - WMIH will go down below 45 cents until it recovers after 2 years for NOL. This is not the right time to buy..IMHO.
So I agree with Chiron!
only after investing in WMIH that I started looking at 10k and 10q...And it is very interesting to do so. Now a days...at least I can tell if a company is doing good at the moment or not...even though I still can not value the value of the company. Heck..in 2012, my return on investment is 20 per cent up. Except for WMIH..Where I have been dumped. Had I understood all the facts about WMIH..I would not invest in it. But whatver. You can call me a loser or anything you like..but just saying the facts. Don't go emotionally..nobody buys emotions when it comes to investments..By nobody, I mean informed people.
theories..live in facts! WMIH is gonna go down further because of people like me and some more like me. For me, investment in WMIH is sort of like on-the-job training. I still am a quasi value investor. And I know there are many like me. Who don't want to face people in their life and still be able to pay the bills.
I think the price of WMIH will go even below 40 cents at some point before eventually making any come back. I'm guessing because people will start to become more intolerable with no price movement and frustrated- end of year tax selling also could be a catalyst. Another reason could be that some of the investors holding WMIH are also following up on other opportunities and if they think they have found a really good opportunity where they can make good return, these investors can dump WMIH and invest in the new opportunity in the anticipation of making a return and may be come back later at WMIH as the price of WMIH seem to be in the same range to them, at the time. Just IMHO
agreed..you've been great. you should go to VIC or distressed debt investors club.
wait 2 years and yes, jackpot ( plenty more than what it is worth right now)...however, what would you do, if this is your majority investment and you need some money to survive? right now it is down 2 third..lol.. I am more better than when i started. i guess the multiple times i bought, every time i bought was cheaper than before. averaging..? i don't know. at one point i was 20% up my investment in wamuq. i guess i paid a lot of attention to court hearings and radiumsoup./catz/mann. but you all are cool. enjoy your life! you deserve it with the philosophy about life you got!! you all are cool! and stay like that. i say today!
Interesting conversation you guys are doing...
bkshadow
Have you considered that in between "mid term" and "2-year long term" that there is something called the annual meeting requirements no later than 15 months? That would be what is called the 3/12/2010 of post bankruptcy; when the equity BOD could be bounced by easy proxy, or they recommend to you to take a deal they made for 50% over current book. If bounced, they have 9 months to "clean the table." No uninvited guests. No to SEC compliance. Yes to going private. Reverse split the retail holders out. Compensation to be simple math. MKT value or cash / shares. The only obstacle is whether TPS groups and DIME-ers can pony up for preferred stock to block; but they can be bought also. It is one big club. If you don't get an invitation, you are not going to participate. BB on YB was on the spot - "if" they let us participate. What do you think they will do?
radiumsoup
to what end? the involuntary ouster of tens of thousands of individual investors? Don't you think THAT could start some congressional hearings?
All of what your proffer hinges on the assumption that more than 50% of the stock (or those who wish to vote, in your proxy example) is owned by entities ("they") which wish to turn this on its head on Day 731. I see no reason to believe this might be the case at all.
Is it technically possible? Sure. Cue the proverbial extinction-event asteroid, too, while you're at it.
"They" will do what will give shareholders the best result possible. To predict (or even assume) that "they" will attempt to forcibly buy out other "lesser" shareholders is suspect at best, and - to me, anyway - dismissible without some clear examples of who "they" are and evidence of their actual motives. All else is just more idle speculation and borderline conspiracy theories, of which I am always a vocal skeptic. Occam's Razor, etc.
I found this note from page 16 of the 10Q- foot notes. Can someone explain what is that they mean that "f) above increase the equity value to $194.7 million."
This adjustment is required to reflect a loss contract fair market value reserve of $63.1 million relating to contractual obligations of WMMRC. This is in compliance with ASC 805-10-55-21(b)(1) which defines a loss contract as a “contract in which the unavoidable costs of meeting the obligations under the contract exceed the economic benefits expected to be received under it.” The net assets or equity value of WMMRC totaled $171.6 million prior to reorganization and fair value adjustments. The elimination of the costs and intercompany payable allocated to the predecessor in accordance with SAB Topic 1B and 1B1 and described in (f) above increase the equity value to $194.7 million. The value of WMMRC was reduced by $63.1 million based upon the FMV analysis described above.
TIA.
lol--filtered/diluted/pristine education. Thank you. I hope you don't have to go any further. May be mods will sticky it.
great stuff..thank you for free education.
It wasn't me.
Make up the mindset that your money has been frozen for 2 years and once you get it back it will be significantly more. But if you are in emergency or don't have the patience then you can still take the loss and try out somewhere. there are many shares that fly 300 per cent in few days. may be you get them.
hope you did not do what you said you'd do.
Is it fair that there is no WMIH news on consolidated outlook (asset/liability) - since litigation trust is fighting claims with 3rd parties? Not enough to pay claimants and until claims are significantly reduced, no need to show the whole world on asset list? Just a thought.
buy at .53/.54 and sell at .58/.59. everyday 8/10 per cent up and down.
wmih is like a FDIC insured bank account right now.
How come SEC or any justice department is quite on this kind of SCAMS?
incredible fraud..more like nigerian scam
SEC will follow you through your IP to track you.
me too
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this is not just the money from investors hub that's being burnt. feel bad for those who put 2 bucks for it and held it.
hyatt regency chicago is a vague info.
sorry. Didn't read the stuff. My bad.
you've put stuffs in stiky.
dragon52/handyandrew/kenswift/janice shell - who are these people pumping this stock? SEC should hunt these pumpers.