Global Gold Corp. (GBGD)

[baystock1]

That was me selling my shares. Trading is illiquid and when a large bid came up, I sold what I could as fast as possible. That joint venture where they sold 49% stake in their flagship toukhmanuk mine for $5 million investment seemed excessively dilutive to me. This means that GBGD's share from the 15,000 oz of production will now only be 7500 oz. The first massive dilution a few months ago where they exchanged outstanding debt for shares made tremendous sense and the market also liked it a lot. But the latest dilution of shareholders stake in their prime asset seems sort of pathetic to me, and the market reaction to the news seemed lukewarm. May be I am misreading the situation and someone can shed more light on the deal ?

The $500K payment just received and the further $1 million due end of this year should help their financial position, so I think I will hold on to my remaining shares for now.