Replies to post #5737 on Great Basin Gold Ltd. (fka GBGLF)

[Damnsammit]

"otherwise best bid" was the part that got me, too.

I think it really just depends on how much debt Rodeo Creek had...

That's where everything gets a little muddled for me. GBG has so many subsidaries that although we have a good estimation of their total debt (~$550M) I am not sure what debt is included in Nevada bankruptcy case of Rodeo Creek.

Is it not possible that Waterton agreed to pay off all debt in exchange for a % of the mine and a JV and that the secondary bid is a pure cash offer?

The BK court will not let GBG walk away with any % of the property without all of the Rodeo Creek debt being paid.