via Google Maps, Bing Maps

By now, the full extent of the information available via satellite and aerial maps has been drawn from this resource, and nothing further will come to light, except if the maps themselves are re-taken again and posted to the web.

I am firmly convinced that GBN.V represents a shell company with no real value, and that a secretive campaign where tens of millions is being spent or has been spent in the last two years has been conducted.

One thing that I had speculated on was the burgeoning stockpile going into the winter of 2011 a year ago. The company did not report on any stockpiling of ore, though it was a simple conclusion to reach that they would have to have resorted to stockpiling. That means they would have underutilized the mill at the time, and rolled back production.

Obviously production took a back seat in priorities, when it was at one time heavily promoted.

These maps will change with time, Google will likely resort to aerial photography to augment their maps if their competitor is doing the same.

Jolu Mill area, Summer, 2010

You can see there are no stockpiles of ore beside the mill, the berms in Mallard Lake are overgrown with flora, and the Alimak zone was not yet bulk sampled. The satellite photo suggests that the Rod Zone, extending from just south of the mill to the eastern extremity of Mallard Lake had seen a significant amount of drill testing.

All of the line-cutting and tracks north of Mallard Lake is already in place, meaning that a significant amount of work was conducted in this area:

http://goo.gl/maps/x3WFw

Jolu Mill area, Summer 2011

We are a year later with a Bing Maps 'Bird's Eye View' which you can toggle with the 'Aerial View.' This will allow you to compare activities in the mill zone during that summer over a year ago, with activies in the late fall a year ago.

The Alimak Zone is being opened, you can see excavators at work with enough resolution. Ore stockpiles are now piling up, where previously there were none. The berms in Mallard Lake TMF are still covered in flora.

http://binged.it/Y0zJU1

Jolu Mill Area, Fall/Winter 2011, Q3 fiscal 2012.

We are now in Q3, fiscal 2013 a year after this aerial photography was completed for Bing Maps. You can see the Alimak Zone is done, while stockpiles are becoming massive just near the mill. Berms in Mallard Lake have lost their flora, and the eastern berm is no longer seperated from the northern shore.

So stockpiles had built up, despite reports of the company only using 50% capacity of the mill. Evidence suggests that tailings deposition capacity is being built up beyond what they're claiming.

There's more than a year's worth of stockpiled ore in the vicinity of the mill. You can toggle between 'Bird's Eye' and 'Aerial View' and see how the stockpile had grown during 2011. Look at it real close up to be certain of the facts.

http://binged.it/UZQhUz

They are evidently lying about results from EP, since stockpiles could have been easily relied upon for Q4, supplying them for a year if necessary. This was not the only stockpile, as there was another one at the Roy Lloyd mine. They would have up to a year or more of stockpiled ore available to them, yet Q4 results were disastrous. The stockpiles could have been combined, its true, but his means then that the whole EP zone fiasco was a stupid lie.

They led people to believe that production was on target going into the end of Q4, April 2012. They even presented the company as confidently making strides. But the EP zone was apparently totally unnecessary, and the mill totally underutilized. Production would have to have been curtailed or drastically rolled back to accomplish this.

What would drive rational people to fraudulently report in this fashion, and for years engage in deception? The whole EP Zone deception would have to have been planned months in advance.

Could it be that equity swap holders are looking at huge losses and TD Securities has some legal recourse to prevent anything from happening in the project? Or has Netolitzky totally gone off his nut with paranoia and self-interest?

Clearly there's a major conflict of interest within the company, that they are seeking to defend at all costs. Just look at the disclaimers along with the news releases.

We are in Q3 now since a month, and still no reporting has occurred.

-F6