Something that goes along with stockpiling of higher grade ore is the processing of the lower grade ore or lower grade development material.

GBN.V aught to have processed all of the available below-cut-off grade development material that is not considered production ore to achieve a very pessimistic outlook:

"...that Ron N tends to overlook, is that if it cant be mined at a profit , its not ore!!! Procon mined a lot of mineralized rock , at GBN's direction, that wasnt ore,...."

Stockhouse

Despite the dire, pessimistic appraisal of GBN.V, and the now obvious drastic curtailment of production, their costs are still well below the spot price.

As far as Procon is concerned, they would have bought out the remaining contractual obligation from Waterton. I presume that since the Waterton loan was in effect prepaid,(as this was part of the agreement) that the remaining contractual obligation was the $1.8m. in monthly interest payments. Stretched over two years, this makes $75k/m. This will be something to look for.(theoretically that can be paid in a lump sum as well.)

GBN.V is not necessarily 'in hock' to Procon. According to the IFRS accounting standard, GBN.V would pay its obligation to Procon with earnings from the previous quarter.