Replies to post #3761 on Great Basin Gold Ltd. (fka GBGLF)

[Damnsammit]

>> On the flip side, I've seen a lot of cases where the value was there and it was snatched away - legal but via questionable ethics.

I think that is where I get mixed up. I was involved in the AMR bankruptcy and profitted quite handsomely from flipping it. I first intended to keep about 10-20k shares around just to see what happened, but then I reminded myself of the Six Flags bankruptcy where they eliminated all of the common shares and issued new ones.

My thinking was that I could just sell the shares for the $$$ now instead of risking the company issuing new shares and making mine worthless pieces of ePaper. Now it's trading well above $2 and in retrospect it would have been a good idea to hang on to those shares. It just seems like too much of a gamble with bankruptcy stocks.

Regardless, I am not looking to sell any of my GBG position, but I was just curious about some of the information that I have been reading. I have a good understanding of most business and finance, but shorts/bankruptcy/ETF are murky for me still.

Thanks for the info, though, got more stuff to read now :)

[Nolda]

Correct! GBG is on the hook for nearly $700,000. in legal fees
enforced by the BC supreme court and an agreement has been reached with
8% unsecured debenture holders maturing 2014. I just fired off proxies for the Feb. 28th meeting
in Toronto. Canadians take getting ripped off and lied to seriously. We're not as nice as everyone makes us out
to be!!!!!