Back To The Salt Mines

Back to the salt mines, as they say.

So we saw Netoliztky hand over to himself properties which are the rightful ownership of the shareholders of GBN.V, for which the company presumably spent millions. GBN.V received no cash in the tranaction, and expects that the shareholders will accept empty catch phrases in its place.

MAS will have major problems raising any cash without a major development in GBN.V.

I think the latest move indicates that a hostile bid is coming, or that finally the company will table a major development. (mine expansion) Anyone looking at La Ronge will want the assembled land package, so if they buy GBN.V they are stuck with having to acquire MAS.

OTOH, nobody will notice.

All this on the eve of yet another price-fixing scandal in gold. It would seem that the price intervention is mostly to affect the gold miners rather than bullion markets. GLD is testing the triangle breakout, and $CDN gold has yet to break the pennant, is testing the bottom of the triangle.

http://www.rickackerman.com/2012/04/with-gold-prices-falling-we’ll-take-the-odds/

supersize: http://www.flickr.com/photos/11747277@N07/7047775029/sizes/l/in/photostream/

stockcharts.com

-F6