Replies to post #6966 on Great Basin Gold Ltd. (fka GBGLF)

[finbar99]

>>at least the market cap is so low at these PPS values it is had to imagine it will go any direction other than up from here.

I think you are confusing wishing with imagining. The good news is that one can only lose roughly .007 from here.......the bad news is that most will lose .007 many many many more times over. Do you think the Burnstone sale results have been postponed because all the bids were better than expected? I'd hazard the educated guess that it was postponed because all received offers were below the worst expectations. The Hollister auction took two days for a 15 mm winning bid - it doesn't take that long to get to 15 million unless there are desperate attempts being made to salvage some sort of residual value from the process. I'd guess the best offer is below the $$$ that makes the secured lenders whole, much less the debenture holders and unsecureds - and the extra time is to allow the secureds, namely Credit Suisse, to determine whether or not they want to credit bid the Burnstone and take it inhouse. The waitresses in Vancouver have told me many of the big banks are looking for big projects on the cheap during this protracted downturn in the industry. We'll find out soon enough.