Replies to post #2507 on Great Basin Gold Ltd. (fka GBGLF)

[Damnsammit]

Sounds great though for the lenders...

I'll give you $10,000 so you can keep your house from being foreclosed on, in return you will give me 40% of all proceeds of your house.

BTW, it's a $1.6M house, and you only owe $300k on it, so if you sell it for $1M, then I will take $400k, the bank will take double of what your principle balance is, and you will get nothing.

Sound like a plan? Nice doing business with you, GBG.

*steals candy from a baby*

[NeumansMom]

II agree. I'm sure those lenders will take back their principal plus ( xx%?) I mean even at 100% interest that is only 35 Million. Those lenders knew that all their assets were greater than liabilities so I honestly think there was very little risk, because even if they went bankrupt they would have a lot to sell...IMO

[nagoya1]

The mgmt bozos knew that they would need additional funds, rather than ask for financing at an earlier date from which the company would be able to negotiate better rates and terms, they left everything at the last second. They need to be sued for negligence and they need a freshly dug resting spot to permanently retire.....

Anyways, the judge is the one that is looking after us shareholders. If we sell Burnstone, the judge will look at the BC filed papers and hopefully come to a better arrangement than bumbling mgmt has with DIP financing. GBG