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Great Basin Gold Ltd. Message Board

  • timodoz timodoz Jul 13, 2010 3:30 PM Flag

    Bloomberg guest pump!!!

    Danger Will Robinson !!!!

    Great Bag of Garbage is getting a pump on Bloomberg from a Jr miners analyst.

    The stock is up nearly 13% in 5 years!

    This joker with his opening remark "Er will have" in reference to the Nevada want to be a mine that eventually may produce ores for "Esmerelda processing mill still in ramp up mode, ....reducing the dilution" So no mill capacity but there will be in the future a mine and mill and the costs will be mitigated so as to as he says "reducing dilution".

    Then there is the Tanzania that "WILL also eventually be a mine" "relatively early stage assets" again with "some dilution" that is going to be minimal.

    Then he goes on to talk about the South African mine that \"will" be operating eventually. He stipulates that the money invested there... "ONEC assets are to be !!!De-Riske!!!! IN production".

    This guy Adam Graff, say's this stock has a realized valuation of $4.50 when all the dilutions, all the flying around the world, all the fancy hotels, all the Johnnie Walker black mini bar fees, all the warrants, the BDFs , and the rest of the subordinated debt as well as the other stock option dilutions.

    This stock is a a dangerous money pit! If you must consider buying it then wait until there is actual production at these two main flagship mines that are so far just very promissing. At some point they will be hit with an unexpected fiasco and you will get it a lot cheaper. than $2.

    Just look what hs gon down on the five year chart! this arrogant, rapacious management will eat your lunch with their compensations before you make back your commission in this Great Bag of Garbage.

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    • And !!! Danger Will Robinson !!!! It is! The Great Bag of Garbage down 8% in valuation since the pump by Adam Graf of Dahlman Rose.

      Nice pick there Adam! Embarrassing yourself on a global wide radio broadcast. I stand by ready to take a 50 share position below $1.60.

      Maybe the next report out will show some profit gain.

      Just a pump of course but, it does strike me as strange that KGI.TO/KGILF is UP .75% today as gold tumbled to below $1180. Apparently no news out from them? I added to GG today at $39.66. Most still calling for $1350 gold by year end, in spite of this correction. A correction that now looks very capable of taking the +$100 off the peak that we had not yet seen this year.

      I would I think also add to silver on a nipping at $17 even. That market still looks very resilient as for all the Solar cell stuff going on in China these days.

      Another interesting spec play there that I do not own but am looking at is NATcore Tech NXT.TO. They just signed on to a joint venture in China a month ago. NXT.TO also has a Nasdaq symbol but I can't recall.

      Good luck to you long the Great Bag of Garbage.

    • FYI: The Hollister mine is in production. 12 truckloads a day are being hauled to the mill at Esmeralda mine out at the old site of Aurora. They are using 9-axle double side-dump rigs, hauling nearly 40 tons of ore each. The trucks go through Hawthorne, and then grind
      slowly up Lucky Boy Grade. I have been there and seen it.

      The ore is blackish clay looking material. The 0z./ton figures are on GBG's website. They are approx. 1/4 gold and 3/4 silver by proportion.

      The mill at Esmeralda is operational and they have already had a pour. Security is tight, and the trucks are closely monitored on their trip. The drivers make one round trip a day. There is equipment on site to ensure delivery even when it snows out at the mill.

      Believe what you wish, have a nice day.

      Don C

      • 1 Reply to doncrockett624
      • Thank you for this insightful post.

        It somewhat bears out my suspicions that the up grade in capacity of the Esmerelda mill is not really a significant one. While the silver ore and recovery are very good profit makers the total ore through put is not then 100% gold ores.

        You look at a micro cap like MEAOF with nearly 1/10th the market cap of GBG and see that they have been processing 500t/day of gold ore at +4g/ton for some time. That vs what you seem to indicate is 480 tons a day at Esmerelda. Metanor is also now accessing their new mine near by and have provided guidance that they will ramp up to 1200 ton p/d by year end. This is as a result of their processing being capable of such a strong increased through put. The newer mining surfaces are providing an average grade of +4g/t of gold as well. Those ores only marginally less rich than what they currently process but still greater than 4 g/t.

        Of course GBG will be adding the S/African mine production going forward.

        This comparison just makes me wonder how effective the upgrades have been at Esmerelda and confirms in my mind that the ores GBG sold, were sold for a lack in capacity to process.

        There are aggressive expansion plans and then there is what is actually being accomplished. We will indeed see if GBG is getting 'er done or just putting on a display planning for big and delivering small, when we see the next two quarterly reports. Patton briefly commanded a division of wooden and paper mache` tanks. From the air surveillances it sure looked like a division of tanks. The cliffs a Pont du Hoc had huge pipes laid out that looked like deadly artillery. Believe none of what you hear and only 1/2 of what you see!

    • first off, how can i see this guest and his comments? thanks for the reply. secondly, there is reason to disagree with your gbg assessment. we are very aware of the struggles gbg has had and the disappointing stock action over the past few years. that said, its ridiculous to think that it will be years before they are producing. they are clearly producing gold at their nevada property and the sale of the stockpile will show in revenues shortly. the mine is now operating well and will be a cash cow going forward. the burnstone property will be on line shortly {lets see} and there is ore already stockpiled there. getting one property to production is difficult enough but two at the same time almost impossible but thats where they are heading. two great properties and lots of gold in the ground. i dont invest based on the past. tell me whats gonna happen and thats where i want my investment dollars!

      • 2 Replies to megmac369
      • This guy Adam Graff was a guest of Pimm Fox on Bloomberg Radio in the 3PM EDT time slot. Your outlook is certainly sanguine for this company going forward. You may have some valid points as to what is about to happen or what should be happening. Again my perspective is closer to the historical performance. I do not own CGC either but there is another Chart comparison for you for a 5 yr total return and with a lot less money invested in terms of market cap. $10K 5 years ago invested in CGC would now be worth near $50K.

        I am suspicious of this company based on their track record. I am not saying that it might not be a decent investment when they start to prove their production. In the meantime they are selling ores rather than processing them?

        S&P has a general bullish out look on Jr miners. "Low short term interest rates reduce the opportunity cost of holding gold as an investment." They also see global production still actually declining despite dozens of these companies getting newly discovered proven ore resources into production.

        CGC in production for many months now and EPS are showing the money.

        I continue to follow GBG and will perhaps even dip a toe in once again. Given what they have accomplished thus far I would see it as a value stock below $1.70. You just can't tell with these types of managements that have failed to produce results in this long running secular bull market in Gold.

        One other positive might be the recent results that Dynasty is getting in Ecuador and KGN is achieving in Ghana West Africa. Perhaps the global political climate is turning more towards embracing foreign investment for a long term economic stimulus rather than to just steal investors assets once the projects reach full potential with an expropriation. Frightening that BP would be safer from expropriation in places like South Africa, Ecuador and Ghana.

        15 years ago or so I was burned in an investment in Pan American Silver which had picked up an abandoned Silver mine project in Western Russia. After investing $3 million or so the Russians decided Pan American needed a domestic partner and that there had been a problem in the auction bidding process that awarded the property to Pan American. Pan America ultimately abandoned that silver mining venture.

      • megmac-having been in cde for 18 months cde just brought on a large mexican mine and a gold mine alaska just in production -delays are part of game-apologize for any deviseness brought about by my questions have been reading and about to reread but you have a history with this stock-power supply now in aug are they reliable in there timetable?-kgb brought up warrants and dilution obviously this brings in cash on one hand and dilution in other and then re-evaluation at start of production how will this balance out-is ore grade nevada higher now than what they sold to nem-any help from you on nationalization issue i know its complicated and huge-bashers ist priority is to attack management and building mines leaves management wide open to criticism -i am looking to buy the present and future not the past so no big deal-can i overcome anc and future dilution and effect on price with production and resources-what is value of stock with just nevada-at cde when i purchased they had a gold mine tied up in Supreme court we won it was priced out at time-we have bolvian govt as net partner in mine that was allready factored in-and had reverse split which brought share structure down after years of major dilution to finance 3 major mines now 88 milion shares-am still very interested in this stocks assets-just need info kgb put the brakes on but i only bought token purchase to motivate while gaining experience with this stock -looking to build core position at value and to establish a swing trade position where profits will be used to increase core -

    • Just for the record I briefly owned shares here and sold them for a $60 gain when I started getting a little more in touch with what is going on at GBG and what the quality of their management is.

      Also Mr Graff also pumped Seabridge and their KSM mine. This is a very excellent Gold company with a couple excellent properties. The access road into where the KSM mine is to be developed is at least more than 1/2 complete. Concurrently a high tension wire line is also being constructed to furnish power. KSM when it becomes accessible will be one of the worlds five richest gold mines. Silver, copper and molybdenum also in abundance.

      Seabridge is an investment, Great Bag of Garbage is just more garbage.

      Please be cautious as to the eventual correction of 40 to 50% we will see in gold once the 10 year note rate gets to over 4% an stays in that territory trending even higher.

      This is why investing in miners with out current production that they have already in plabce and are currently ramping up, is a dangerous race towards a solid rock wall.

      For now Gold must continue higher as Chopper Ben assures "for the foreseeable future", the US gov't will continue it's on going destruction in the formation of capital and punish savings. With gold having no cost to own once it is purchased it is now, as good as gold.

 
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