Thank you for those insights, gwt.

Additional Discussions

I would assume that there are several reasons why the share price has underperformed, but the main reason is a certain level of obvious mistakes that could have been avoided. News releases long on explanation and short of fact, saying they had "just missed" the high grade is an extremely poor substitute for actual facts and share price performance.

My gut feeling is that shareholders are not privvy to a wealth of information which is readily available to insiders. Issuing an in-depth technical report on the full extent of the gold showings independant of the deposits, discussing the history of each and the geology is missing here, for one example. The La Ronge district is not known for deposits of size or any long term mining effort. I think this is a major advantage, since there's gold showings and deposits all over the place. Deposits in the La Ronge are very likely to measure with the Seabee mine of Claude Resources in terms of grade, size and geology. I think Bingo is somewhat larger, but then i have so little information making anything more than a rough estimate will be difficult. You'll need more than just one Bingo to attract attention and a higher gold price.

But the one reason why this company has difficulty -and is frustrating shareholders- is the lack of financing. Solve that problem, and gold deposits will be 'discovered' in surprisingly rapid fashion. Bingo is the flagship, but there is a good deal of room for growth. Note that most of the insider buying was going on after the drilling on Bingo was completed in 2008.

The following video segments can get you up to speed on just how the market values a gold company once enough information comes out about the available resources:

http://watch.bnn.ca/#clip217421

http://watch.bnn.ca/#clip217424

Pay special attention to 12:08 on Hawthorne Gold in the second video. GBN.V has narrow vein deposits, but this is the way gold is deposited in vein systems, the other alternative is copper porphyry with gold by product on a large scale, and massive sulphides with zinc and lead and gold by product. Another important comment comes at 17:35, discussing Red Lake exploration plays.

Very unlikely to get some comment on GBN.V by analysts, because it will have caused some very significant embarassment to investors early on.

F6