Replies to post #5739 on Great Basin Gold Ltd. (fka GBGLF)

[HRc60]

Waterton is the best bid.

GBG will see all site reclamations (advence paiement, between 2-5M$) refund because it will be assumed by Waterton as per the sale contract.

The sale price ? minimum 50M$, credit suisse will be satisfied, what will happen to 150M$ residual debt (bondholder 130M$)

GBG debt structure:

term loan I + II 210 M$ Collateral Hollister for 41M$
Dip financing 60 M$ Collateral Hollister for 9M$
Debenture 130 M$ colateral Hollister for 130M$

Total 400 M$
Total residual debt 220M$ after Hollister sale ???

other debts
Gold futur Call
lease contracts
suppliers

Inter-co loan are included in those GBG liabilities.
GBG liabilities are secure by :
Mineral properties of $119.9 million consisting of the Hollister, Esmeralda and Burnstone properties and fixed assets of $597 million have been pledged as security for the term loans

Southgold debts structure is unknow and are included in GBG liabilities, inter-co loans and other debts

GBG is the principal lender of Southgold

GBG has borrowed 65M$ from Hollister what happen with that loan ??? GBG will get nothing