New York, August 17 (FinanceEnquiry.com) – Analysts at BMO Capital Markets downgrade their rating on the shares of Great Basin Gold Ltd (NYSE AMEX: GBG) from PERFORM to UNDERPERFORM.
In a research note published on August 16, the analysts mention that as a result of challenges at both of its operations, disappointing Q2/12 result has been reported by Great Basin Gold.
Due to the ongoing permitting process and the requirement to address liquidity concerns as soon as possible, the company may find it difficult to realize value, even though Hollister seems to possess appeal as a high-grade operation in an established mining jurisdiction.
In addition to this, a marked operational turnaround at Burnstone would still be required to meet future debt obligations even if Hollister sale have to occur, the analysts add further.
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