GBN.V Daily Ichimoku

One chart with an amazing track record at calling the declines is the daily Ichimoku. No rally in sight, and you have to wonder just what is being done about the crashed share price to date.

One detail you might want to consider is that Sprott bought in to GBN.V at an average of ~32¢ a share in 1997, after the Bre-X scandal broke. Sprott does not list GBN.V in its precious metals portfolio. That's a long time to sit and wait, unless you enter into an equity swap contract with TD Securities. That equity swap contract does not appear to have been continued this year.

Small wonder then, that GBN.V no longer deals with Sprott, and that Sprott has not added to its position, or changed the weighting in GBN.V shares.

After looking again at the up-front capital costs to develop the La Ronge Gold Project, and results from fiscal 2012 ended in April, there is some ~$40+ million missing over a period of two years from the equation. Capital costs for startup were raised with a huge surplus in 2011, and once again in 2012, there was a huge surplus in capital accumulation, over and above costs.

GBN.V had no need of such excess capital, and CAPEX is being deployed without informing anyone. Perhaps they are siphoning money off the company in order to prop up their other companies or interests, or perhaps they are liars and swindlers paying for bitches & blow for a yacht in St. Tropez. And yet, they insist that this money is desperately needed, as the company is struggling to make ends meet because of one quarter of slow returns, or because the company is now in dire straights clumsily developing the Komis deposit. They raised that money already.

imo, they are spending the money developing west of the Roy Lloyd mine on the Dickens lake prospect. No information is forthcoming about where capital is deployed and how it all adds up. Only the barest facts are doled out, as if to merely satisfy legal requirements.

Since the share price peaked in Dec. 2010, there have only been outflows of cash with one brief interval of buying.

supersize:

http://www.flickr.com/photos/11747277@N07/8131144063/sizes/l/in/photostream/

http://scharts.co/PAitl5

-F6