Great Basin Gold Ltd. (fka GBGLF)

[goldenpolarbear]

"...Tranter Resources’ investment portfolio includes Tranter Kismet, Tranter Gold and Tranter Pangea Diamonds Investment. Tranter Kismet was formed with a group comprising mostly women. Tranter partnered with the group and now they own shares in Wits Gold which has a primary listing on the JSE and a secondary listing on the Toronto Stock Exchange. Tranter Gold comprises Tranter Holdings and five other BBBEE groups, ranging from a women’s development organisation to a children’s home. It has used its knowledge and skill to lead the groups in the investment process and they now own shares in Great Basin Gold..."

http://www.miningweekly.com/article/great-basin-golds-share-weakness-puts-bee-into-default-2012-03-15

Remember, Tranter or a BEE related company needs to control at least 25% of the GBGLF common shares regarding any business done in South Africa so...

http://en.wikipedia.org/wiki/Black_Economic_Empowerment

This information helps explain part of the reason why our GBGLF share priced tanked and also with focused resolution will rise again.

http://www.miningweekly.com/article/great-basin-gold-to-proceed-with-mining-application-after-bee-ratification-2007-08-24

Cheers,
Golden~Polar~Bear

PS "...Also gazetted were general guidelines and definitions, among which, the definition of the beneficiaries of BEE. The definition is the same as that of the Black Economic Empowerment Act of 2003 which states that "black people" is a generic term which means Black Africans, Coloureds and Indians and included provisions to ensure that they must have been South African citizens prior to 1994.[5] The fact that Chinese individuals (some of whom were classified as Coloureds under Apartheid, others as honorary white), who were also submitted to legal discrimination prior to 1990 (but exempt from the Group Areas Act as of 1984 when the Group Areas Amendment Act was promulgated), have been excluded as beneficiaries of black empowerment, has led to a renewed media debate regarding the definition of "black" in current legislation.[6] As of 2008, Chinese people have been reclassified as "black" after the Chinese Association of South Africa took the South African government to court and won...."