Great Basin Gold Ltd. (GBG)-NYSE MKT

[BooDog]

Quite the sell off. Starting with a restructuring of upper level management and working with debtors to avoid defaults on covenants. Can't express the risk level enough and who knows how much longer they will keep their current listing.


Prev Close: 0.45
Open: 0.35
Bid: 0.2432 x 2000
Ask: 0.2433 x 600
1y Target Est: 3.27
Beta: 0.8
Next Earnings Date: N/A
Day's Range: 0.2122 - 0.3547
52wk Range: 0.45 - 2.37
Volume: 18,255,448
Avg Vol (3m): 1,891,040
Market Cap: 136.34M
P/E (ttm): N/A
EPS (ttm): -0.03

actual book value is around .88

SEC filings http://www.sec.gov/cgi-bin/browse-ed...ion=getcompany

Do your DD!

Disclosure: I do own shares.

[BooDog]

do or die dead cat bounce potential. Embarrassing even putting this thread on the NYSE, amex but it is still there lol.
Held support today well though.

[BooDog]

Originally Posted by BooDog

do or die dead cat bounce potential. Embarrassing even putting this thread on the NYSE, amex but it is still there lol.
Held support today well though.

okay, oops. Missed this part...

"NASDAQ, AMEX, and NYSE Stock Exchange Markets that are ten dollars and over."

Should wear my glasses whilst drinking and typing.

Mods want to move this to the SMALL cap thread feel free please!!

[BadThad]

Actually, it belongs in the metals forum. Fixed!

[dots_thots]

I've recently doubled down on this stock. I figured what the hell. They're either gonna be bankrupt in a few months or rescued. Even if they end up selling the Nevada mine to fund Burnstone, at least some value would be unlocked.

I've been following their problems as closely as I can over the last 6 months. Another 6 months and I think they may have turned the corner but they simply ran out of road.

The next quarter's results won't show an improvement even though they've sorted a lot of problems - if there's anyone left to sell, that could be the killer blow.

But... their resource is so big I believe it will get mined. The question is, do the creditors get in deeper, or do they seize the assets under bankruptcy and find a new buyer. The former would be a lot better for everyone. Let's hope they can convince them to extend the loans...

If they do survive, at these prices - even though they are in South Africa with all its problems and lack of investor interest. I think they are a 20-30 bagger.

[BooDog]

Looking much better technically imo. I agree Dots, the interim CEO imo should be looking for a strong CEO to lead them. The jibe I have is that he is trying to set up his assets for a takeover or partial sale by hiring an independent bank to do assessments. As you mentioned, the Nevada mine would be most likely.

[dots_thots]

Yeah, the results from a few days ago..

http://www.greatbasingold.com/admin/...ber42012_1.pdf

..show things are getting better. I just hope the current creditors are convinced to hang in there a little longer.

One of my concerns is they're looking to raise $60M to get them over their problems. Whilst I understand they don't want to raise to little, then be hit with more problems and be forced to come cap in hand yet again, $60M is an awful lot for a company with a MCap of only $130M.

A huge amount depends on the outlook of the creditors. If they're bullish on gold, we could be ok, but if investing in GBG was more about a generic mining story in a neutral market, they may just throw in the towel. They've hung in this far though. This recent pop in gold could not have come at a better time...

[ashishtrifid]

Markets showed range bound movements and were able to close on a positive note. Nifty future found strong support around 5550 and moved in the consolidation phase in the range of 5650-5550. Once nifty breaks this zone on either side then further trend can be decided. If it is able to hold above 5680 then it may lead towards its previous highs. While any fall below 5550 will drag it towards the next support of 5450. Volatility is expected due to F&O Expiry this week.