Conclusion -

Has Golden Band Resources borrowed any money? Not a single penny.

Did they raise any capital over a period since 2011? Not a single share. In fact millions of warrants have expired.

If they have 1000 tpd. in concentrating production across four mines and an average grade of 8g/t, they will have met with their target of accumulating production of 100Koz. per year over a period of five years. 30k oz. are costs. So presumably they will have met with the initial goals set out in calendar 2010, or Q1, fiscal 2011.

Expansion occurred at the outset, perhaps more expansion is to follow. They rquired a tiny tailings impoundment due to concentrating. And they've been running FULL TILT, even though they claim 'care and maintenance'

The question is who are the beneficial owners of the company? Credit Default Swap artists? Short sellers at the big banks? Mysterious special purpose vehicle bond holders? Gold bug paranoiacs hoarding gold using the mine as their own personal gold ATM?

They have forward-looking liabilities to swap gold for cash through marketable securities. Are their offers for doré being low balled in a chronically bad physical market?

Have they availed themselves of the transmission line upgrade completed in March, 2015 and are now using Saskpower at all sites?

A mining company that can raise its own capital can single-handedly demolish the paradigm that miners cannot effectively pay their own cost of capital would be a revelation. What is the purpose of the secrecy which the company has been operating in?

-F6