$Gold Monthly

The $U.S. dollar monthly gold chart clears out the noise, and after having removed all of the straight lines within which people seem to have an affinity to confine the chart, we are free to move up from here.

We are also free to move down, but the market is setting the price here, which means that any and all dishoarding of bullion occurring is having no effect whatsoever on the price. After the G20 meeting, gold prices came under direct pressure. Agreements on currency stability were emphatically doled out to the press, but in reality that was a short-lived excercise.

What is really needed in the context of a small, civil-engineering road-building outfit such as GBN.V, is a higher gold price. This would be enough to convince them that their métier is probably better suited to mining gold.

Note that in the monthly gold price chart on the momentum indicator green and red lines came together at certain points along the bull market, which they appear ready to do so now.

http://scharts.co/VSzZl0

GBN.V Monthly

It'll be an "L"- shaped recovery for GBN.V share prices, as far as I can make out, until things get better. That means share prices will remain low until improvement is seen. We are in a bear market for equities, not a bull market. The market can always intervene in the meantime, such as buyers unexpectedly entering the gold mining markets for reasons other than what's going on with the company.

You might like to imagine that a white truck with rounded features looking more like an ice-cream vendor is parked in front of GBN.V offices, while two burly men in lab coats cart out Netolitzky perched on a stretcher as he's gnawing away at his straight-jacket straps.

Or perhaps you are gripped with sensationalism, muttering under your breath while buying groceries, or in the hardware store, staring at cleaning products unable to decide what to buy: "that pussy-whipped bankster-lackey."

It's been a few lost years as they say, and GBN.V might be fixing to reverse split the shares.

http://scharts.co/P5qOWY

Golden Band shareholders meeting:

Here's some really choice swear words you might use for the occasion, say, over dinner for example:

http://www.youtube.com/watch?v=J4e1Y-2Rz24

How Much Gold Does Komis Have?

"The updated mine plan for Komis includes two phases. The first, a smaller pit designed to extract the near-surface ore, has total mineable tonnes of approximately 1.7 million. Ore production is expected over nine months at an average of 15,000 tonnes/month at a grade of 6.46 g/t gold. Phase 2 is a larger pit designed to extract ore from the deeper levels of the Komis deposit, with total mineable tonnes of approximately 4.4 million. Ore production is expected over 18 months at a monthly average of 13,000 tonnes at a grade of 7.13 g/t gold."

http://www.goldenbandresources.com/html/news/press_releases/index.cfm?ReportID=203275

Once andesite-rhyolite contacts were identified, and more resources were discovered you will notice that tonnage and grades in the Komis deposit increased by almost double.

That means the Komis deposit is actually in the millions of ounces, much as they would like you to believe that ore production will only extend over 18 months. As an actual matter of fact, once ore production resumes, the bulk of the ore from the open pit will be stock piled, while only 500tpd will be used for production. This is much the same as when the high grade ore from EP Zone was fully stockpiled.

Waterton was meant to be the source of financing, but they walked away. In the extreme loss of face, Netolitzky got rid of his best buddies, who served as directors on the board. Waterton are the idiots, imo, because instead of grabbing at the bullion, owning a gold miner is by far and away the better asset to have, and they have oodles of money to buy all of the shares they like for the cheapest price available.

And THAT is IMHO.

-F6