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Great Basin Gold stock plunges after company reveals ‘liquidity challenge’
Original Publication Date: August 15, 2012 3:43AM
Publication Updated: January 9, 2025 5:07AM
VANCOUVER – Great Basin Gold Ltd. (TSX:GBG) stock dropped nearly 50 per cent in unusally heavy trading Wednesday after the Vancouver-based company disclosed it is faced with a “liquidity challenge” due to operational problems and a revenue shortfall. Its board has struck a committee to look at strategic alternatives. The company’s CEO has also resigned. Great Basin’s stock was down 19.5 cents at 23.5 cents with more than seven million shares traded at mid-morning.
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