Truly bizarre. These are monster results with some almost-too-good-to-be-true intercepts. Given how much drilling has been done, they obviously could've leaked out some of the good numbers over the last few months if they wanted to give WTG share price support and helped CMM minority shareholders feel better about the future. They didn't, which I take to mean that they wanted to bleed as many retailers out of CMM as they could before the deal completed. I take these results with a huge grain of salt, but if taken as real, this would completely change the prospects for the combined company going forward.

Incredible. So if all of the original 'No' pledges had carried through, the 84mn (from Stock Igloo) would have been enough to block on the 'majority of minority'. Peggy held the deciding block and opted for the deal.

PC, thanks for that background info.

BTW, the whole exchangeable situation seems to have created complete chaos among brokers and retail shareholders. I have one account (Interactive Brokers) which petitioned me for my decision on common shares or exchangeables last week, and as of this morning my shares are frozen (I had selected common shares, the default, given I am not a Canadian resident). In my other account with a Canadian brokerage, they have not even sent me a message regarding the exchangeables. It seems a lot of retail shareholders either received their election petition late, or not at all.

I am not sure whether this is a mistake from CMM or brokerages. Whatever it is, retail investors have not only felt the injustice of a criminally low bid and effective take-under, but also many got screwed on the execution of the vote and exchangeable petition. It is epic failure on so many levels.

Where is the Chairman of the Committee, John Smrke (Fair for All)? He is the backbone of the resistance, possibly representing Peggy's shares. Is he not involved in this press release for strategic reasons, or has he defected with his support?

The OSC comes down on Sino-Forest executives for many of the same things CMM / WTG managers likely could be accused of. Interesting... not sure what it would mean for the share price in the near term, but it would likely be the catalyst to clean house of the conflicted and corrupt (allegedly of course...) CMM board and management.

http://www.theglobeandmail.com/report-on-business/osc-orders-sino-forest-executives-to-resign/article2143054/

F6,

I am fascinated by your dedication to the GBN story despite the lack of transparency and dismal share price performance. I have only looked at GBN over the last few months and understand why it should trade at a large discount to fair value. However, the ongoing selling is a surprise, and implies a large overhang, a production problem, or more dilution. My guess is it is an overhang, as this is the case with many juniors in recent months. But, even in that case, the ridiculous number of shares outstanding makes a turnaround very difficult. It seems the CEO tried to call a bottom at 41 and 42c with some significant insider buying. Ooops.

It seems from your committment to this message board, that this is a top pick for you? I have taken a starter position based on valuation and my view on the gold price. But this is still a pure speculation for me until the technicals improve.