Please Note The Following

On a day when gold prices are rallying and have seen the bottom, GBN.V shares are basically not trading. What you are witnessing is the real extent of the trade in the stock, when all of the algorithmic trading is stopped.

Its as if the commercial traders are caught like a deer in the headlights, not knowing what to do. In actual matter of fact, this is a dead giveaway that computers are put on pause and merely wait out a new signal.

Substantially all of the trade in the stock is algorithmic 'churn,' which should say someting about how illiquid markets really are, and that liquidity is really flowing into derivatives, sapping value from shares.

But that being said, in the complete absence of buyers, the sellers are in control. Only the sellers don't realize or take into account just how many sellers there really are, that the sum total of players are all sellers trying to take advantage of the holders of the stock and are really vying with one another at posturing with the biggest bet, all of them betting against the stock price, or that the company will fail. They are all massively leveraged to the teeth that treasury prices will rise, and GBN.V share prices will fall and absolutely certain that gold prices will crash.

A significant arbitrage risk comes in to the stock when GBN.V starts paying dividends out of earnings available to the shareholders, because then GBN.V shares will start pricing in forward earnings, rather than trailing earnings.

As it stands, there are no signs whatsoever of company intentions on this issue, that they are shooting themselve in the foot and will lose control of the project. But the company valuation is only half of the book value, not taking into account assets, or gold in the ground, or Net Present Value of the project.

-F6