via gov.sk.ca - Roy Lloyd Mine via gov.sk.ca - Roy Lloyd Mine posted on Aug 08, 16 09:59AM
In the Benjamin Lake area, you have the Roy Lloyd mine. Historical information from the province details how much production came out of the burgeoning ore stockpile that was processed starting February, 2014.
Presumably theses numbers quoted are meant to cover up the actual results and is the only quote of any production numbers. The technical report overlooks any form of production at all anywhere on GBN.H property.
There was SOME production from Roy Lloyd during the period mentioned, but the processing of ore stockpiles was not mentioned at all. Open pitable ores taken at surface were probably processed, while ores from underground sources were stockpiled and processed during the period 2014 - 2016 calendar years.
To fit with the revenue-based tranche, the numbers would be more like 770k oz. produced, rather than only 77k oz. produced.
None of this was mentioned in the technical report. The technical report, while thorough and concentrating solely on the map area NTS 74 - A - 01 avoids any reference to production outside of the map area.
"Golden Band Resources Ltd. La Ronge gold project production from 2011 to 2013 of 252,852 tonnes grading 8.55 g/t Au for 68,140 oz. Includes production mainly from the Roy Lloyd Mine (Bingo deposit) with additional from EP and Komis deposits. Sask. Exploration and Development Highlights 2013. Total production from 2011 to 2014 was 323,491 tonnes grading 8.55 g/t for a total of 77,118 oz to the end of production."
Roy Lloyd mine production noted here was meant to be a cover up originally, but shows where the company has failed to hide what they're doing in La Ronge.
https://www.ir.gov.sk.ca/dbsearch/MinDepositQuery/default.aspx?ID=2627
-F6
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Conclusions - posted on Aug 08, 16 10:18AM
The technical report, while thorough contains hopelessly out-of-date materials and does not mention any production numbers. You may as well set your watch back to the 1980's.
Given that the map in the technical report outlines the location and extent of the deposits in question finally, there is still room for multiple major discoveries. (the discoveries were made years ago, but never made public because nobody could raise any capital)
The close of the bankruptcy proceedings, or the restructuring, as I would prefer to call it, since there was no credit event or seizure of assets and the creditors are to be paid in full, will default the fiscal year to end with the calendar year due to a 75-day stay of proceedings. But that would mean no audited financial information technically until May, 2017.
'Till Friday.
-F6
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