Replies to post #13871 on Great Basin Gold Ltd. (fka GBGLF)

[goldenpolarbear]

It ALL comes down to the South African-Business-Rescue which has been obviously completed... How and who if anyone is interpreting it? An actual reputable judge???

If it is honoured GBGLF shareholders along with the creditors should do well...

If Sibanye Gold does not need to follow the agreeded upon rules of the South African Business Rescue because It acquired SouthGold/Burnstone via Wits Gold and NOT directly; we get nothing... IMO

Top brass at Sibanye seem to think GBGLF shareholders are entitled to nothing but we need to see the fine print on the final transaction of Burnstone and SouthGold to get any idea...

The entire transaction is very complex, international and multi-jurisdictional so who really knows; well Neal Froneman would... IMHO

If these shares are still trading and NOT frozen on the OTC Grey market soon ... = $$$$

The fact that the major shareholders are NOT selling these GBGLF shares gives me some actual confidence...

I did see a graph regarding Burnstone that showed it will take years for Burstone to pay off the massive outstanding debt but the graph was produced when gold was trading at $1100 USD so...

BURNSTONE PROJECT
Feasibility study and LoM plan

https://www.sibanyegold.co.za/investors/events/presentations/2016/send/37-2016/366-update2016-04-burnstone-project

"....the hearing currently scheduled for August 9, 2016, is POSTPONED, and a telephonic prehearing conference shall be held at 2:00 p.m. EDT on September 16, 2016, if the proceeding is not resolved before then.
____________________ Jason S. Patil Administrative Law Judge ..."

https://www.sec.gov/alj/aljorders/2016/ap-4045.pdf

[goldenpolarbear]

Ray Dombrowski is a Managing Director with Alvarez & Marsal in New York. He specializes in assisting corporations in developing and implementing financial turnaround strategies.

With more than 20 years of financial restructuring experience, he has served in interim Chief Executive Officer, Chief Financial Officer and Chief Restructuring Officer roles, as well as an adviser to large and mid-size companies both in and out of bankruptcy.

Mr. Dombrowski brings expertise across a wide range of industries, including energy, telecommunications, financial services, transportation, real estate and entertainment. Clients have included: SIRVA, SLI, Allegheny Energy, VecTour, APW, Verestar, Great Basin Gold, Oxford Resources, OW Bunker, Horizon Lines, Maritime Equity Partners, Marchon Eyeware and the Unsecured Creditors Committee of Kodak.

https://www.alvarezandmarsal.com/our-people/ray-dombrowski

Bear who you need to ask IMHO is Ray Dombrowski?

http://www.fin24.com/Companies/Mining/Great-Basin-appoints-new-CEO-CFO-20121204