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2/23/09

Great Basin Gold (GBG) now renamed "Great Washbasin Gold"....

....due to amount of dilution.

Today's turning out to be a day of short posts. So be it. Here's the news on GBG that dumped the stock over 20%, though it's now recovered somewhat and is 15% down at time of publishing.

All in all, I think it's safe to assume that talks with the financiers haven't been going very well! So today gives another chance to remember what companies say about junior miner investors:

"Shareholders; if they can't take a joke, **** 'em."

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VANCOUVER, Feb. 23 Great Basin Gold Ltd. (the "Company") announced today that it has filed a preliminary short form prospectus with Canadian securities regulators and a related registration statement with the U.S. Securities and Exchange Commission under the U.S.-Canada multi-jurisdictional disclosure system, relating to a proposed marketed public offering of approximately C$125 million of units. Each unit will be comprised of one common share and one-half of one common share purchase warrant. The number of units to be distributed and the price of each unit will be determined in the context of the market with final terms to be determined at the time of pricing. A syndicate led by BMO Capital Markets and RBC Capital Markets is acting as underwriters in connection with the offering. The Company has granted to yada yada continues here