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Golden Band Resources Inc GBRIF

Metals & Mining Gold
Golden Band Resources Inc. is a Canada-based gold producer engaged in exploration, mine development and extraction of gold ores from its properties in the La Ronge Gold Belt in northern Saskatchewan and processing at its Jolu mill. It has assembled a land package in excess of 870 square kilometers (km2) that includes thirteen known gold deposits and four former producing mines, which were Star Lake, Decade, Komis and Jolu. The Company is mining at three deposits to feed the mill. These are Roy Lloyd, Greywacke and Golden Heart. Roy Lloyd mine is an underground mine extracting ore from the Bingo deposit. Golden Heart is located approximately nine kilometers east of the Komis mine and is accessible through a 17-kilometer mine road connecting to Highway 102 just north of Brabant Lake.


GREY:GBRIF - Post by User

Golden Band Resources Inc
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Comment by Giftedoneon Mar 31, 2011 9:51am
263 Views
Post# 18366221

RE: RE: Just say it!!!! OUCH!!!!!!

RE: RE: Just say it!!!! OUCH!!!!!!

What the hell do you expect the balance sheet of a new producer to look like?

Exactly

Not sure what turnip truck from the sea neptune fell off,  but all new mine start up operations are always fraught with delays  and cost over-runs.

Exploration and development costs have totaled 30 M so far .. add another 10 M for Capital costs in the last quarter.

Yes folks .. it takes money to start up a new mine.

This is  a Junior start-up  .. and as such has "risk".    If you did not realize that then sell and go buy Goldcorp.

The PP closing should be enough to get operations to cash positive.
Bullboard Posts
Dealroom for high-potential pre-IPO opportunities