via Talk Digital Network - Bob Hoye

Washers has another message for shareholders of GBN.V:

"Yes this will get turned over to Banks and they will list it again and all over again.

WHat a scam. Haha but it's only money no one was killed so far.

So what it's done.

happpy days

Buy a real gold stock next time good i never did buy it was fun to see hahaha "

http://ow.ly/lQNbz

Washer wants you to know that the banks will be taking over GBN.V shares, and therefore the company. Brokerages with huge negative carries and sell-side exposure aught to desire that this company disappears.

Its possible, but not without the agreement of the management. If I know the controlling managing director well enough, his tenacious minority control of the company is sacrosanct, over and above the investment case.

He has gotten rid of the entire board, two Chief Operating Officers, investor relations, and placed subcontractors on the board of directors, all in a bid to protect minority control.

There are also outside bidders looking for distressed gold mining companies such as Waterton. Netolitzky cannot contemplate outright bankruptcy since there are other buyers out there, he would make a final gamble on maintaining control and risk losing it entirely.

Another example would be that Brett Resources was sold at grossly undervalued prices to Osisko, when Osisko was trading for $12 a share, against the wishes of the shareholders. Osisko has then gone on to miss estimated production numbers, and is no longer the market darling it once was. Brett Resources shareholders have taken a permanent loss.

http://scharts.co/11OmDV6

The one active part of the market that could start a rally in GBN.V shares is that bond markets have sold off and the momentum is building for a major decline. Since GBN.V is strongly inversely correlated with bonds, and the trade is to sell the miner and buy the treasury, GBN.V could stand to see a buy-in by the banks.

Washer had stated that you were going to puke up your shares, which didn't occur. Rick Rule had stated that people were going to puke their shares out in a rout in the gold mining sector in and interview with King World News, which hasn't actually happened in GBN.V shares. If anything, the capitulation should be to the upside.

Bob Hoye has an interesting anecdotal account about what happens during bond market routs:

http://talkdigitalnetwork.com/2013/06/jobs-up-gold-down-what-now/

-F6