Replies to post #8159 on Great Basin Gold Ltd. (fka GBGLF)

[HRc60]

Wits Gold had cash and cash equivalents of R15m at the end of December last year. It is not financialy better than GBG actually.
Where the 100M$ will com from ?

I can not believe N6C will sold Southgold for 10US$ and stay liable for all the balance of the secure debt!

Just a imaginative story: ''It is smelling like a fraud, the 100M$ Wits loan, acn or may comme from GBG shareholders money, from gold extract from Southgold and transfert somewhere else, sold and the cash in a Credit Suisse account''

“The business plan for this transaction was done more than two months ago and the gold price has subsequently dropped another $250 an ounce,” Kotze said. It would be “foolish” for the company to raise $100m in equity and debt immediately so it would take a “phased approach” to fundraising, he said.


The offer is conditional on the restructuring of all Southgold liabilities due to debt holders and Sars.


Wits Gold had cash and cash equivalents of R15m at the end of December last year, the last period for which it released financial statements.