The Make Or Break Scenario

This month will be the make or break month for this company. Either they have something, or they don't. They have spent years disappointing shareholders and maddeningly diluting the float while not advancing the share price. Its make or break now.

The latest company presentations show that one thing is being presented to shareholders and another statement is being made to locals. To my mind, it appears as if they are trying to maintain interest by telling people what they think they might like to hear. What people want to hear is that they have a large deposit on hand. The market would like the hear that there is a growth profile.

But should it come out that they are knowingly making exaggerated claims for the purpose of attempting to maintain interest in the stock, then the stock is fried. No amount of effort will save the company or the years of patient diligence that have gone into making this work.

All of it down the tubes.

04 May Presentation Claiming 45koz./yr production

http://www.goldenbandresources.com/images/file/GBN_Presentation_web.pdf

07 May Presentation Claiming 200koz./yr outlook

http://www.goldenbandresources.com/images/file/rod-presentation-7-may-2011.pdf

There's a big difference between the two.

Information Not Forthcoming To Shareholders

Something that fell by the wayside on the road to dilution was the SGH survey over the Dickens Lake prospect.

Something that you might not know is that SGH surveys are greatly superior to magnetic surveys, since the provide an unmistakeable signature for any particular metal, whereas with a magnetic survey only a small quantity of any sort of conductor will give you a false reading. RKN proved up problematic after drilling, but the survey did its job. Surprise to find that actual drilling had occurred in the area surveyed over the Dickens Lake prospect, providing results.

imo, this SGH survey on the Dickens Lake prospect is no longer proprietary information. Surely the Dickens Lake prospect is the focus of attention now.

The following snapshot is from the government map that showed the Dickens Lake prospect that has not just the Bingo deposit, but also another known gold deposit, something not clearly detailed in the previous presentations. There is an 8km distance between the two deposits, where the veins are oriented North/South.

Also highlighted is where I think the SGH survey was taken:

source: http://ow.ly/59mKH

You can also use the NTS numbers on the maps in the pdf file to run a search for gold deposits and showings in the area in question. Use the NTS number and au for "commodity" They are listed in the bottom right corner of each map:

http://www.ir.gov.sk.ca/dbsearch/MinDepositQuery/default.aspx

Actlab's SGH survey presentation:

http://www.actlabs.com/docs/SGH_Minerals.pdf

350tpd?, 400tpd?, 500tpd?, 700tpd?

Another thing you might not recognize is that the Mill once upgraded operates at 700tpd, not 350tpd. You would have to have read through the PEAs, submissions to the government and parsed the phrasing in the news releases. So the fabulous results they obtained at the beginning of milling was due to milling @700tpd, not 350tpd as stated. That puts the head grade @~10g/t. 1g/t of improved grade controls will make a huge difference here.

I presume there were some problems attempting to make a mill do twice the work for which it was intended.

Canada Gazette

In case somebody doesn't believe me that information is not forthcoming to the shareholders about their permitting for Mallard Lake, here is the article from Canada Gazette, dated Feb. 18, 2011:

http://www.gazette.gc.ca/rp-pr/p1/2011/2011-02-19/html/reg2-eng.html

The Parliamentary Committee met with the Governor-In-Council Feb. 2, and this amendment came into force a week later. Along with the SGH survey, this is a crucial piece of information which cannot be held as proprietary. We're now into the fifth month.

-F6