Replies to post #4102 on Great Basin Gold Ltd. (fka GBGLF)

[learningthetruth]

Nice! Thanks for sharing Coho.

[RBKissMyAs]

6 bidders for Burnstone and 3 for Hollister with 3 weeks to go.

[dano9008]

I am inclined to hope the author is inept on some points. Only three bidders for Hollister is precariously low, but the author might be leaning on reports of three attempted stalking horse bids and be unaware that there are other interested parties. When the author mentions SA parties the list is unimpressive, it doesn't include Gold Fields or Anglo Ashanti, but the author seems to be just taking a list of interested parties from the Pamodzi Gold case and saying - hey, maybe they are interested. It's lazy. Goliath Gold is a subsidiary of Gold One which handles riskier projects than Gold One wants. That would seem to lead to a risk discount, so lets hope Gold One views Burnstone as a property for Gold One.

When our BRP handled the BR of the Blyvoor, he contacted chinese parties as well. The mine sold to Village Main Reef at USD cash consideration of about 28.9 mil (they gave R194 mil worth of stock for 74%, so convert to USD then divide by .74). This was regarded as a successful BR. I remember reading in a miningmx article that the acquisition raised the gold reserves of Village Main Reef by 5 million ounces.

[Tamaman]

Finally some kind of article to get some interest sparked. Nothing really new though, but on a positive note there was no mention that there was a possibility Burnstone was sandbagged. I still think the chinese will be the ones to buy Burnstone. On CNBC today there was a clip that ran on China buying resources and investing all around the world. It stated they have 70 or so billion dollars on the side just for the purpose of acquisitions. It will grow 15% next year. Talking about Pamodzi, I remember watching an interview of Middle Eastern backers who showed interest in Pamodzi right before it sold and asked for time to do their DD. They were 500 million dollars interested. They then realized the mines were old and rundown so they walked away from it.

To everyone I apologize for my post earlier that was putting down the claimed unsecured debenture holder. I just don't like statements that are stated to be true such as the lawsuits and all the accusations. I never saw his response because it was deleted, but again I apologize. Everything I say is IMHO.

[goldenpolarbear]

..."six "serious and potentially suitable" parties are lining up to buy the Burnstone mine"...

It is now seven +

Charlotte Mathews wrote on March 6th, 2013 "JPMorgan is handling the bidding process; the deadline for offers is end-March."

Peter van den Steen of V-Squared Business Rescue Services, who is managing the process for Great Basin!

I am pleased that this has all been published!