Correction: I referred to Gold One as a confirmed interested party, but when I look for the article it seems that might belong in the rumor column. It is mentioned in a 12/28/12 article in Business Day BDLIVE and I know it was rumored in a miningmx article. I have found miningmx to be a good source for articles. You can go to their web site and search 'Great Basin Gold' and read articles from a few years back to present to unravel the story. Also, there is an influential analysis done by RBC Capital Markets (Leon Esternhuizen, Arnold Graan, and Ben McEwen) on 11/18/11, which roughly predicted the liquidity problems GBG would face. Exerts of the report can be found in articles, but I really want the full report and can't find it. I think the report is worth finding. Analysts skilled enough to predict this are worth reading and I want their take on the property itself. We need to try to discern (as potential acquirers will) to what degree this is a management screw up and to what degree it is just a difficult or unpromising property itself. It seems to be mostly a management screw-up. They had problems with flooding in late 2011, and early and mid 2012 - I assume mines can't flood themselves. Apparently, they didn't do enough exploratory drilling to get the geology and development planning right and tried to develop a block that wound up having a fault. The analysts predicted this would cause a nine month delay in ramp up and Ferdi said three months - the analysts were right. If you can find the full report, please help me find it.
AI
