RE:Golden Band Files NI 43-101 Technical Report via SEDAR - Technical Report, Aug 4 posted on Aug 05, 16 10:41AM
What would the BCSC say about the most recent technical report? That this technical report cannot be relied upon. The BCSC has said this twice about technical reports issued from GBN.H. This one is no different.
Material information of any substance is cautiously avoided and any technical information provided is hopelessly dated. The report itself may have been written in 2014.
The exception would be the map of the various deposits in the Jolu/Star Lake - Khan areas. You get an idea finally of what the deposits in the area look like, and their location. Note that the satellite photo dates to circa 2000, and does not show the mill in place at the Star Lake location since 2010.
https://www.sedar.com/DisplayCompanyDocuments.do?lang=EN&issuerNo=00007862
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via GC.ca - Deemed Year End posted on Aug 07, 16 12:24PM
In wondering just why a pro-forma(patently false) technical report was entered prior to the end of restructuring proceedings(I would not refer to it as Bankruptcy), I was looking at just how long the company might have to defer tax reporting and exactly when the fiscal year might end.
Considering that the fiscal year in question might be more than 365 days, the fiscal year may now end at the end of this calendar year, owing to the halt of proceedings extending 75 days past the end of fiscal 2016, which ended April 30 2016. So by default under law, the calendar year for taxation purposes comes on the end of the calendar year.
There is also a question of 'starting afresh' or a change of ownership implied by proceedings. It's a question of just when the trading halt is lifted by the regulatory body, what the company may look like on the close of the restructuring.
"3) Notwithstanding subsection 249(1), where the fiscal period of a corporation exceeds 365 days and by reason thereof the corporation does not have a taxation year that ends in a particular calendar year, for the purposes of this Act, the corporation’s first taxation year ending in the immediately following calendar year shall be deemed to end on the last day of the particular calendar year."
https://laws-lois.justice.gc.ca/eng/acts/I-3.3/section-249-20070622.html
GLTA
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via ir.gov.sk.ca - From The Link Library posted on Aug 07, 16 02:50PM
To search the provincial mining database for historical information pertaining to GBN.H, use the search engine set to NTS 74 - A - 01 and for the commodity 'au'.
What you'll get is GBN.H in a nutshell and you can compare the information provided against the recent technical report:
https://www.ir.gov.sk.ca/dbsearch/MinDepositQuery/default.aspx
The deposits on the map comprise the deposits around Mallard, Rush, Star Lakes. A lot of historical information was omitted, as well as any information on the total production and waste rock stockpiling that was seen in SAT photos from 2010 - 2016.
For example, the Alimak Zone provided tonnes of ore processed at the Jolu Mill, but no mention was made of grades or results. No mention is made of total grades obtained tonnes processed or results for any mining activity throughout this period.
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