Conclusions -

There would absolutely have to be more risk to short sellers in GBN.H stock. In fact, if the stock were to perform in any way and realize it's going concern value, the short sellers would have to eat the risk. The example of AA stock during their insolvency is a good case in point.

But as it stands, the company would prefer people to believe that Procon holds all of the equity and that the shares will be extinguished, completely contrary to the balance of risk.

IF the creditors were not paid at the close of proceedings on Friday, then the shares would have to be be extinguished in lieu of liabilities. But it clearly states in the trustee notes to creditors that both secured and unsecured creditors to be paid in full.

There is still one more day before the stay of proceedings are to be lifted, so if Procon is to be paid today, Saturday, then the beneficial shareholders retain the equity. But they'll let people believe what they want to believe. Not that this hasn't happened before.

The company has made unsubstantive claims before, and this may be another in a series of unsubstantive claims. For example the no-bid period was preceded by claims to reverse split the shares, which never occurred. It's been almost two years. Operations continued during the supposed shut down period, where ore stockpiles were reduced and a burgeoning waste rock stockpile collected over years.

As for the technical report that claims absolutely that there's no gold in LaRonge, and geologists swearing on a stack of bibles that they seen it with their own eyes, all of the drill cores presented are below cut-off grade, all of them. This is how to hide the deposit, and the company has consistently averred to divulge material information in the same manner before.

This means the company has no desire to reveal anything further than the map presented of area 74 - A -01.

But out this is all due to the stock being closely held by a small group of individuals.

-F6