Mining Excellence In Saskatchewan

Notable to a recent posting featuring a video with Steve Toduruk of Sprott, there will be a mining conference in Saskatchewan including aforementioned Alpha Minerals, Fission Uranium in the video, Shore Gold(whose properties have amongst the largest kimberlites in the world), Claude Resources(Mine in operation since the '90's) and GBN.V.

This will be early in November:

http://www.newswire.ca/en/story/1235023/mining-excellence-in-saskatchewan

Comparable - RIC.TO

A good comparable for GBN.V aught to be Richmont Mines in Quebec. Discounting any prospects for growth, the La Ronge Gold Project should be producing in a likewise vein with lower costs.

They were a market darling for a short time, but very likely they will be rangebound in their share price. Looking at their Denver Gold Forum presentation is a quick way to assess. If GBN.V goes through a reverse split, then they would have fewer shares out than RIC.TO and clear prospects for growth.

GBN.V does not report on actual costs, reserves and production outlook and only satisfies the minimum legal requirement on reporting, and have kept people guessing for years on their corporate strategy.

For example, they like to post pictures of their big trucks, and crow about how many drill holes they drilled but only manage a resource to last out the year. Preposterously absurd indeed.

http://www.richmont-mines.com/tiki-index.php

via FTAlphaville - The Illustrated Ichan

I had to laugh at the illustration posted to FTAlphaville after Carl Ichan demanded that Apple buy back shares to the tune of $150b. I don't think Ichan can in any way be depicted as part of the rabble of shareholders.

The illustration in question however, manages to describe the plight of GBN.V shareholders so very well. The only thing I would change is that risk insurance for equity swaps might have been paid out of company funds, rather than flying to a superbowl game (If such a scenario had occurred in the interest of advancing the project) Equity swaps held against gold mining stock are the big game in the gold mining sector:

http://ftalphaville.ft.com/2013/10/24/1677322/the-illustrated-icahn/

$Gold Weekly

I have kept the sketch of a volatility smile over the weekly gold chart, since the past couple of weeks seem to be an outlier and overshoots on an already heavily overshot market to the downside.

Moves in advance of COMEX options expiry, which I had the date wrong, appear to be a result of derivatives markets and moves in lease rates and short term bond rates.

Two weekly technical indicators that the market is ready for another and final bull market run are ADX and moving average crossovers:

http://scharts.co/15SkfR3

-F6