via Seeking Alpha - The Cost Of Mining Gold

The following article will take some of the mystery out of gold mining costs. Safe to say that GBN.V's costs are commensurate with the March, 2009 PEA.

The process of sandbagging results began after Q2, fiscal 2012. Mostly the minimal legal requirement was filled out, but in the meantime, by Q4 fiscal 2012, Sprott Asset Management was in the process of writing down its equity swaps with TD Securities, so they co-incide.

The company stockpiled ore, while processing only low grade material, the results obtained were wildly out of kilter with the PEA. Compliant information is also wildly out of kilter with known historical facts.

So costs per ounce should be in the $700/oz. range or less once they begin reporting again. A heavy discount should apply, since they will be drawing from stockpiled ore, enough to operate for perhaps 2 years.

The PEA has been rendered obsolete, and what exactly is intended or has transpired in the interim is kept entirely secret, and people were strung along endlessly with meaningless results, including a management orchestrated production strike.

Seeking Alpha

-F6