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Great Basin NYSE MKT delisting expected in Feb

16th January 2013

By: Idéle Esterhuizen

  

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JOHANNESBURG (miningweekly.com) – International mining company Great Basin Gold (GBG) announced on Tuesday that the delisting of its shares from the NYSE MKT would take effect on or about February 4.

The company announced in December that it would voluntarily delist its shares from the NYSE MKT following a decision by its board of directors that this would be in the best interests of the company.

“Management’s belief is that, under the company’s current financial circumstanceS, it is not practicable for the company to maintain a plan of compliance that would satisfy the NYSE MKT’s continued listing requirements,” GBG said in a statement.

On Tuesday, the company formally notified the NYSE MKT of its intention to file a Form 25 - Notification of Removal from Listing and/or Registration as per the Securities Exchange Act with the US Securities and Exchange Commission on or about January 25.

Edited by Chanel de Bruyn
Creamer Media Online Managing Editor

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