Conclusions -

What are we to make of the period following the pro-forma insolvency? We know it's over since Aug 24 when the company issued a notice that they voluntarily gave up reporting status, because you are only allowed to do so under certain conditions. One of those being, that there was the winding up of the debt defeasance.(the company did not wind up, since they went under the BIA, rather than the winding up and insolvency act.)

The company must be anticipating doing something illegal like impaling the neighbor's dog with a crossbow.

In fact, the only thing that comes to mind is that shareholders may be physically extiguishing their own positions, rather than the company exchanging the shares for preferred's or some fanciful notion. You can sell your holdings to your broker, who likely holds an immense equity swap position, and thus writes down the whole position. The shares may be extinguished that way, by default.(it would not surprise me if a broker would, having long since extinguished their derivative position, rather than GBN shares, then sells the shares to a competitor like B2gold)

So my guess is that this 'physical extinguishment' will have reduced the size of the float considerably, if not invited the competition through the back door. Once the back door man is discovered, then you can expect the revocation to proceed.

-F6