The Riddle Till

The cancellation of the last financing with Sprott now has some pretty plain reasoning behind it. The Riddle Till, is in matter of fact larger than the EP Zone proper it is now disclosed, can provide ore for the processing until December 2012.

The grade, should it be robust and consistent, very high for a dispersion train, referred to as a "Pay Streak," will provide the necessary financing for the next step of development, which would be the implementation of the Komis operation, and perhaps the development of the Golden Heart deposit. I suppose you can throw in also the next phase of mill expansion at the same time for next summer.

The available gold here and solid grade can push the production rate to ~95k+ oz. per year. This is also pretty plain by now.

http://www.ir.gov.sk.ca/dbsearch/MinDepositQuery/default.aspx?ID=0425b

There was an EP Zone technical report posted some time ago, I believe in 2007, but not much is contained in the report. The Mininster of Energy and Resources Saskatchewan has a very good synposis, though its likely to be totally overlooked.

Very nice to see that the jitney traders in GBN.V stock price arbitrage were taken aback by the news, as long term treasuries appear to want to sell off.

Looks like GBN.V original assessment was probably bang on, if not a little tight:

"31 December 2002 573,300 t grading 0.39 oz/ton Au. Golden Band."

-F6