Gold Bullion Development Corp. (TSX-V:GBB)

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Gold Bullion Development Corp. (TSX-V:GBB)

Postby Pixel8r » Thu Jun 09, 2011 5:36 pm

Dominic Frisby at Frisby's Bull & Bears turned me on to Gold Bullion Development Corp. this year, so I thought I'd start a thread on them.

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Website: http://goldbulliondevelopmentcorp.com (which is a very poor site, at least you can see they don't 'waste' their money on fancy websites. (Frank if your ever read this I could sort you a miles better one!)).

They currently have two projects the Granada Gold Property and the Castle Silver Mine.

It's flagship property is the 100% owned Granada gold property which is situated in northwest Quebec along the prolific "Cadillac Trend". Phase 2 drilling has identified impressive results and a Phase 3 drill program is currently underway. The property is now 11,000 hectares, making GBB the dominant landholder in the Granada Mining Camp. GBB's prelimary block model outlines the potential for 2.4 to 2.6 million ounces. Drilling since the block model has increased the mineral envelop by a factor of 8. A 43-101 report is due at the of June which should see the price appreciate substantially, even if they just release an expansion to 3 million they should get a higher valuation due to the 43-101 and the vicinity and closeness to major infrastructure.

Here's a radio interview from Feb 2011 between Frank Basa and Dominic Frisby;



Castle Silver Mine is a previous Silver & Cobalt Mine, which closed down due to low silver prices in 1989. they have just released a 43-101 on this property and are preparing the mine to be spun off as a separate company.

Here's a chart of the last six months - update link

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Here's a link to an article on the contents of the 43-101 at Castle;

Gold Bullion identifies strong, new vein structure at Castle Silver Mine, Gowganda

Thursday, Jun 09, 2011

Gold Bullion Development Corp. (TSXV:GBB) (OTCPINK:GBBFF) (the "Company" or "Gold Bullion") announces that it has completed a 43-101 Technical Report on its Castle Silver Mine property, which has been filed on SEDAR and can also be viewed on the Company's website athttp://www.GoldBullionDevelopmentCorp.com. Gold Bullion is nearing completion of its 6000m first-phase drill program with a total of 4861 metres, as of May 31 st, having been completed in 10 holes. A strong new vein structure was identified at the location of the first IP target tested.

The Company's Castle Silver Mine property, located 85 kilometres northwest of the historic silver camp inCobalt, Ontario consists of 34 leased mining claims and two licenses of occupation located in Haultain and Nicol Townships, covering approximately 564.4 hectares. The mine has been in operation at various times from 1917 to 1989 and produced a total of 763,127,010 grams of silver from the # 3 shaft. This included Agnico-Eagle Mines Ltd.'s production from 1979 to 1989 which came to 101,024 tonnes milled; 91,421,294 grams silver; 34,597 kilograms cobalt and 10,180 kilograms copper. Operations shut down in 1989 due to low silver prices...
"Money is Gold, and nothing else"
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Re: Gold Bullion Development Corp. (TSX-V:GBB)

Postby Rosco » Sat Jul 16, 2011 2:30 pm

Hello

Nice site Pix.

I usually watch the Stockhouse board but after seeing some of the most perplexing and unjust moderation ever, I've decide to leave it alone unless needs must.
Besides the text editor here is far better. Hopefully I can add something constructive.

After watching the goings on at GEI over the years I found it encouraging see you invested here Pix. If I remember righty you've had some great picks!
My main holdings at the moment in the gold sector are MML.L - been there for the last couple of years and just a great play. Here GBB.V - waiting for the 43-101 and Cosigo CSG.V
which gets me over-excited.

Anyway - There's been some mention of Van Eck taking a position in GBB but I can't find any evidence on't web. Can anyone confirm that this is in fact the case.

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Re: Gold Bullion Development Corp. (TSX-V:GBB)

Postby Pixel8r » Sat Jul 16, 2011 3:24 pm

Rosco wrote:Hello

Nice site Pix.

I usually watch the Stockhouse board but after seeing some of the most perplexing and unjust moderation ever, I've decide to leave it alone unless needs must.
Besides the text editor here is far better. Hopefully I can add something constructive.

After watching the goings on at GEI over the years I found it encouraging see you invested here Pix. If I remember righty you've had some great picks!
My main holdings at the moment in the gold sector are MML.L - been there for the last couple of years and just a great play. Here GBB.V - waiting for the 43-101 and Cosigo CSG.V
which gets me over-excited.

Anyway - There's been some mention of Van Eck taking a position in GBB but I can't find any evidence on't web. Can anyone confirm that this is in fact the case.

Rosco

Welcome on board Rosco, glad to have you here. :wave:

The 3 stocks you mention are ones that I am into as well. Bought some MML after Jimbo mentioned them to me, I really like their potential and their amazing cash costs. Dominic turned me on to the other two, GBB looks like it will be bought out at some point and they look to be sat a a good deposit. I agree completely that CSG is very exciting, I can't wait until they start getting the drills turning which hopefully should be reasonably soon (there is talk that the permits should come through towards the end of the month. I am trying to play GBB and CSG in a reasonably small way, as exploring juniors aren't my usual forte, but I seem to be getting bigger in them than I first thought.
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Re: Gold Bullion Development Corp. (TSX-V:GBB)

Postby Rosco » Sun Jul 17, 2011 12:55 am

Pixel8r wrote:
Rosco wrote:Hello

Nice site Pix.

I usually watch the Stockhouse board but after seeing some of the most perplexing and unjust moderation ever, I've decide to leave it alone unless needs must.
Besides the text editor here is far better. Hopefully I can add something constructive.

After watching the goings on at GEI over the years I found it encouraging see you invested here Pix. If I remember righty you've had some great picks!
My main holdings at the moment in the gold sector are MML.L - been there for the last couple of years and just a great play. Here GBB.V - waiting for the 43-101 and Cosigo CSG.V
which gets me over-excited.

Anyway - There's been some mention of Van Eck taking a position in GBB but I can't find any evidence on't web. Can anyone confirm that this is in fact the case.

Rosco

Welcome on board Rosco, glad to have you here. :wave:

The 3 stocks you mention are ones that I am into as well. Bought some MML after Jimbo mentioned them to me, I really like their potential and their amazing cash costs. Dominic turned me on to the other two, GBB looks like it will be bought out at some point and they look to be sat a a good deposit. I agree completely that CSG is very exciting, I can't wait until they start getting the drills turning which hopefully should be reasonably soon (there is talk that the permits should come through towards the end of the month. I am trying to play GBB and CSG in a reasonably small way, as exploring juniors aren't my usual forte, but I seem to be getting bigger in them than I first thought.



I think it was Chip on the ADVFN board that perked my interest in MML.L. Apart from the country risk this high grade mine, with some of the most prospective land in the world ticks all the boxes. Solid management, with a cost per Au/oz of less that $200. I'd say it's the best developing gold producer I've come across.

Cosigo - What jolted me here was Bob Hoye taking..... was it 14% of Horseshoe pre RTO. I think the evidence for a major find here is compelling. I'll save further comment on these two, to their respective threads.

Gold Bullion Development Corp - this one's been a bit trying at times lol. The Canadian Venture Exchange - you can see why it needed regulating! But the story is still a good one.
It's good to see Dominic is still recommending it and Roger adding to his holdings recently. With Nicole Rioux - Genivar's geologist reportedly working seven days a week to complete the 43-101 we must be getting close. Resource estimate wise - due to the lowering of the cut-off grade 0.2g/t I think anything below 3Moz inferred will be a bit of a disappointment. So I'm hoping for 4Moz+.

Everything else is just sweet ........location, infrastructure, workforce, and a shallow open pit-table deposit. The management seem competent although they come across more as geologists / technicians rather than mining managers. So maybe not the one's to take this to production and like you say this will most probably be taken out by one of the bigger fish, post 43-101 anyway.
Hopefully it'll be at multiples of the present price
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Re: Gold Bullion Development Corp. (TSX-V:GBB)

Postby Rosco » Thu Aug 25, 2011 6:21 pm

Wow - now this is an intercept; 0.45m (1.476 feet) interval of 40,944 g/t Ag (1193.70 oz/ton Ag).

Gold Bullion reports 6,476 g/t Ag over 3.09m at Castle Silver Mine, Gowganda
Canada NewsWire
VANCOUVER, Aug. 25, 2011
VANCOUVER, Aug. 25, 2011 /CNW/ - Mr. Frank J. Basa reports:
Gold Bullion Development Corp. (TSXV:GBB) (OTCPINK:GBBFF) (the "Company" or "Gold Bullion") announces that it has completed 6,842 m in 12 holes of diamond drilling in its first drill campaign on the Castle Silver property historic past-producing silver mine property located 85 kilometres northwest of the historic silver camp in Cobalt, Ontario.
Numerous strong calcite veins and vein systems were drilled and many of these were independent of the existing mine workings. The best silver intersection encountered is a 3.09m (10.138 feet) weighted interval of 6,476 g/t Ag (188.80 oz/ton Ag) in hole CA11-08 from 563.54 to 566.63 m including a 0.45m (1.476 feet) interval of 40,944 g/t Ag (1193.70 oz/ton Ag) in a calcite-Co-Ag vein (not true width). Leaf silver was common in the wall rock in the reported interval.

http://www.stockwatch.com/News/Item.aspx?bid=Z-C%3aGBB-1874998&symbol=GBB&region=C
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Re: Gold Bullion Development Corp. (TSX-V:GBB)

Postby Pixel8r » Wed Nov 09, 2011 4:28 pm

GBB is very volatile lately up 25% yesterday and down 16% so far today on zero news. Anyone have any clue as to what gives?
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Re: Gold Bullion Development Corp. (TSX-V:GBB)

Postby Rosco » Wed Nov 09, 2011 4:55 pm

Pixel8r wrote:GBB is very volatile lately up 25% yesterday and down 16% so far today on zero news. Anyone have any clue as to what gives?


Frank Basa - GBBs CEO has dumped the geological contractors, Genivar and brought in SGS Canada to complete the 43-101 and gave a firm timeline as Q1 2012 for its release.

There was talk yesterday that GBB had confirmed they were going to mill their own ore in order to finance future exploration activities but I can't find an official statement to that effect yet.

It's been a tough ride holding this company through this part of its development, hopefully that will be the bottom.
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Re: Gold Bullion Development Corp. (TSX-V:GBB)

Postby Pixel8r » Wed Nov 09, 2011 5:45 pm

Rosco wrote:
Pixel8r wrote:GBB is very volatile lately up 25% yesterday and down 16% so far today on zero news. Anyone have any clue as to what gives?


Frank Basa - GBBs CEO has dumped the geological contractors, Genivar and brought in SGS Canada to complete the 43-101 and gave a firm timeline as Q1 2012 for its release.

There was talk yesterday that GBB had confirmed they were going to mill their own ore in order to finance future exploration activities but I can't find an official statement to that effect yet.

It's been a tough ride holding this company through this part of its development, hopefully that will be the bottom.

Does that mean SGS will be doing more drilling to prove the property or just interpreting results from existing drill results?

I am getting a bit bored of the BS that comes out from them.
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Re: Gold Bullion Development Corp. (TSX-V:GBB)

Postby Rosco » Wed Nov 09, 2011 6:26 pm

Pixel8r wrote:
Rosco wrote:
Pixel8r wrote:GBB is very volatile lately up 25% yesterday and down 16% so far today on zero news. Anyone have any clue as to what gives?


Frank Basa - GBBs CEO has dumped the geological contractors, Genivar and brought in SGS Canada to complete the 43-101 and gave a firm timeline as Q1 2012 for its release.

There was talk yesterday that GBB had confirmed they were going to mill their own ore in order to finance future exploration activities but I can't find an official statement to that effect yet.

It's been a tough ride holding this company through this part of its development, hopefully that will be the bottom.

Does that mean SGS will be doing more drilling to prove the property or just interpreting results from existing drill results?

I am getting a bit bored of the BS that comes out from them.


Landrill are responsible for the drilling and this remains unchanged. SGS will be compiling all the cores from the completed phase 3 drilling that remains un-assayed and producing the 43-101.
I take it SGS will now fill Genivar's former roll. I suppose the Phase 4 drilling campaign will take place when they have sourced more money either via the markets or from the processing of Granada ore.

Management should have done better, but I'm prepared to be patient with them for a little longer.
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Re: Gold Bullion Development Corp. (TSX-V:GBB)

Postby Rosco » Thu Nov 17, 2011 11:49 am

Two news releases yesterday. The first was the expected Castle Silver mine spin off,

Gold Bullion unit expects $3.4-million IPO by Dec. 15

The second and most surprising NR was this,

Gold Bullion reassays old core from Granada

2011-11-16 13:46 ET - News Release

Mr. Frank Basa reports

GOLD BULLION RELEASES SIGNIFICANT HISTORIC HOLE WITH GRANADA DRILLING UPDATE

Gold Bullion Development Corp. has provided an update on the recently completed phase 3 drill program results from its property located along the Cadillac trend in northwestern Quebec, five kilometres south of the city of Rouyn-Noranda. Just under 80 kilometres (78,414 metres) have been drilled since December, 2009, confirming extensive mineralization potential on the Granada property. Gold Bullion's originally defined Long Bars zone of 600 metres long by 300 metres wide, striking east-west and dipping approximately 50 degrees to the north, has been increased sixfold to approximately 1,500 metres long by 750 metres wide. With the documentation of a historic hole, 90-01, the mineralization in this area, north of the current exploration, extends to a depth of approximately 700 metres, and remains open in all directions and at depth. Highlights include 1.12 grams per tonne gold over 304.36 metres including a 23.55-metre interval grading 5.46 g/t Au.

Hole 90-01 is an exceptional drill hole identified from a detailed review of historic data dating back to 1990. Kewagama Gold Mines drilled the subject hole to examine the down strike and downdip extensions on the No. 2 vein mineralized zone and other veins in the hangingwall of No. 2 vein. The subject hole intersected sericite alteration zones with gold-bearing quartz veins. Frank J. Basa stated, "We are extremely pleased to have been able to identify such an important drill hole that confirms our belief that with additional drilling, there is excellent potential to expand the mineralized zone to north of the known extent."

Hole 90-01, a near-vertical hole, collared at minus 89 degrees, is located approximately 485 metres northwest of the northeast extension discovery hole GR-10-17. Gold Bullion is sampling each hole in its entirety; however, the historic core was sampled only in vein zones and alteration zones. The company has since identified that significant low-grade mineralization occurs even between vein zones. The calculated grades shown below include intervals that were assigned a zero value, with no single interval longer than 25 metres, for purposes of calculations and do not represent true width intersections.

Significant intervals include:

304.36 metres grading 1.12 g/t Au between 387.90 m and 692.26 m including:
23.55 m grading 5.46 g/t Au between 387.90 m and 411.45 m;
286.99 m grading 0.76 g/t Au between 433.91 m and 720.90 m including:
1.14 m grading 66.86 g/t Au between 538.96 m and 540.10 m.
With the next phase of drilling, Gold Bullion intends to define the potential to the north, toward hole 90-01 and at depth, as well as continuing to step out to the west and east along strike. Based on the significant number of intersections at depth, the prospect of developing underground workings below the open pit is conceivable. To that end, the company has expanded its core logging and core cutting capacity, and has built a substantial road network to support the upcoming drill programs.

The company has also recently retained the services of SGS Canada Inc. as an independent consultant on the Granada property replacing Genivar as geological consultant. The SGS Group is the global leader with a network of over 1,250 offices and laboratories around the world.

The technical information in this release was prepared under the supervision of Frank Basa, PEng, Gold Bullion's chief executive officer and president, who is a member of the Ontario Association of Professional Engineers and a qualified person in accordance with National Instrument 43-101.



So the mineralized zone is now 1500m x 750m with a true thickness of up to 350m dippping 50 degrees to the north. A potentially huge huge deposit!

For now they are going to use deposit dimensions of 1200m x 500m x 200m for the initial 43-101 purposes. Applying even a modest average grade of say 0.6g/t to that volume gives a number way in excess of 4Moz. BTW the S.G of granada'a rock is 2.65t/m3 if you wan to work it out yourself.

This would not include what lies to the north IF the historical drill holes prove to be accurate.

With yesterdays NRs and further news that the much delayed Genivar have been replace by the top notch SGS Canada to complete the 43-101 and sacking of the IR people I'm back on board here! It's been a rough ride and no doubt there will be snags along the way but there are real signs here that Ganada is vast in size.

20c !!! Not for much longer.
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Re: Gold Bullion Development Corp. (TSX-V:GBB)

Postby precious44 » Thu Nov 17, 2011 7:51 pm

I'm onboard too but concerned they don't have the finances to achieve their potential and suspect they will be bought on the cheap.
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Re: Gold Bullion Development Corp. (TSX-V:GBB)

Postby Rosco » Fri Nov 18, 2011 4:57 pm

precious44 wrote:I'm onboard too but concerned they don't have the finances to achieve their potential and suspect they will be bought on the cheap.


Hi Precious

Yes the takeover threat here is very real which to my mind goes some way too explaining management actions since Feb this year.

Correct me if I'm wrong, but before any offer there will likely be three pieces of information in place.

1. The notification of major holding by the acquiring company, in excess of (I think) 5% of the total shares outstanding or an all share bid.
2. The reserve estimate NI 43-101.
3. The preliminary economic assessment.

I can't see these going un-noticed by the market. Then the acquiring company must either purchase directly the bulk of the outstanding shares or make an acceptable offer to present shareholders. And do this without a competing bid. So they have a lot to do to gain control and even a derisory offer would be multiples of the present SP.

There is of course the opposing view that the market is right and GBB have less than 750Koz Au, moose food and low-grade un-economic rock. mmmmm....I don't know.......

We know that the dimensions of the volume of rock that will be contained in the 43-101 will be 1200m x 500m x 200m - I know the mineralised area is bigger now but the cut off for the 43-101 was stated to be that for the purpose of the initial 43-101. This at the stated S.G. of 2.65t/m3 gives 318Mt. Say for the sake of argument you lose 1/3 of this in waste and apply a low average grade of 0.5g/t to the rest. Which comes up with 104.94Mg or 3.374Moz Au.

Again for the sake of argument, these oz are all inferred, for Quebec $40/Au in the ground is worth 135M or 81c per share with 166M shares outstanding - four times the present SP!
This would be ignoring the potential in the north of the property completely. Some of the figures that are being banded about at the moment seem fanciful - 20Moz - 40Moz ....well see!

On the finance side they have money coming back form the Quebec government +$3M and options of milling 80Kt of prepared ore, or selling forward bullion discounted to shareholders of which I'll gladly take up.

If I’m reading this correctly management have been fearful of a predatory takeover since Osisko bought into the Adanac roughly coinciding with them clamming up in February this year. Their view being that this takeover treat is heightened with the unveiling of the extent of this deposit.

There only real way of unlocking shareholder value is to put forward the largest possible RE within the limitations of their finances to hand. So there is chance that the RE will be a blinder.

I think beyond this, management will wait to see if they are being shown the door by Osisko, Agnico….etc. after the RE.

JMHO.
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Re: Gold Bullion Development Corp. (TSX-V:GBB)

Postby Rosco » Sat Nov 19, 2011 2:18 pm

Joakim has just updated his blog with some ballpark calculations of GBBs possible resource, taken from Genivar's drill map.

http://goldexplorers.wordpress.com/

NI43-101, SGSs WAY

I was sitting and looking at technical reports made by SGS and found this:

“Generally, a polygon was created around blocks that were estimated based on drill hole
composites with an average maximum distance to block centres of:

• 7.5 m for Measured Resources
• 25 m for Indicated Resources
• 50 m for Inferred Resources

Each block of the model was therefore classified as either Measured, Indicated, or
Inferred Resource.”

I was interested what this could mean for us, because we know the drill spacing through the drill map that GENIVAR and GBB release for every batch of results back from the lab. I made some rough, very rough estimations and calculations below. The drill map made by GENIVAR could be viewed HERE.

Drill spacing:

Western and southwestern Preliminary = max 10 m = probably some within Measured
Preliminary = max 20 m = Indicated
Eastern near Preliminary = max 20 m = Indicated
Eastern in general = max 50 m (some drill holes in the outskirt is 60) = Inferred


Corebox, view from above

Areas with resources:

utliners (inferred, but probably with some spacing to the rest, half of it is incorporated) = 300 x 300 m = 90,000 m2/2 = 45,000 m2
Inferred = 750 x 350 m + 250 x 200 m = 312,500 m2
Indicated = 500 x 400 m = 200,000 m2
Measured = 250 x 100 m = 25,000 m2

Total of 582,500 m2

This correlates very good with my earlier area calculations of 1200 x 500 meters which is 600,000 m2.

Average depths:

Depth of Eastern in average 275 m
Depth of Preliminary in average 150 m


Corebox, view from the south

Resource volumes:

Inferred = 357,500 m2 x 275 m = 98,312,500 m3
Indicated = 200,000 m2 x 212,5 m = 42,500,000 m3
Measured = 25,000 m2 x 150 m = 3,750,000 m3

Total volume: 144,562,500 m3

Tonnage of ore:

Inferred = 98,312,500 m3 x 2,65 tonne/m3 = 260,528,125 tonnes
Indicated = 42,500,000 m3 x 2,65 tonne/m3 = 112,625,000 tonnes
Measured = 3,750,000 m3 x 2,65 tonne/m3 = 9,937,500 tonnes

Total tonnage: 383,090,625 tonnes

Grades:

Preliminary = 0,8 g/t
Eastern = 0,4 g/t

Gold content:

Inferred = 260, 528,125 tonnes x 0,4 g/t = (104,211,250 g/31,1 g/oz) = 3,35 Moz
Indicated = 112,625,000 x 0,6 g/t = (67,525,000 g/31,1 g/oz) = 2,17 Moz
Measured = 9,937,500 tonnes x 0,8 g/t = 7,950,000 g/31,1 g/oz) = 0,25 Moz

Total gold content = 5,77 Moz

Percentage of classification:

Inferred = 3,35/5,77 = 58,1 percent
Indicated = 2,17/5,77 = 37,6 percent
Measured = 0,25/5,77 = 4,3 percent

Total percentage = 100 percent

Summarize:

If we divide the total amount with half i still would be very happy because the valuation is now at that level that I´m thinking of doing the unthinkable, to take a loan to buy some more stocks. If we would to divide the content with half we would still look at a true valuation of approximately 172 MCAD and Castle Silver Mines valued at zero dollars.

We do not know the true width of the ore body and we do not know the vertical depth either. We need more powerful drill rigs and much more money to drill to these depths. I think the best way of doing this is to start mining the Preliminary Block Model and raise money without dilution, to progress on the exploration further down.

Best regards // Joakim
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Re: Gold Bullion Development Corp. (TSX-V:GBB)

Postby Pixel8r » Sat Nov 19, 2011 5:37 pm

Rosco wrote:We do not know the true width of the ore body and we do not know the vertical depth either. We need more powerful drill rigs and much more money to drill to these depths. I think the best way of doing this is to start mining the Preliminary Block Model and raise money without dilution, to progress on the exploration further down.

That is very much what I would like to see GBB doing, developing a low scale mine and using profits to fund organic growth and prove up the deposit. There is no need to continue with issuing of more and more shares, all it does is alienate early shareholders.
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Re: Gold Bullion Development Corp. (TSX-V:GBB)

Postby precious44 » Sat Nov 19, 2011 8:07 pm

Reading the various commentaries on the recently released news GBB seems to be very cheap and im sure Casey caused a sell off after his sell recommendation but im surprised the sp moved so little after such a positive report.
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Re: Gold Bullion Development Corp. (TSX-V:GBB)

Postby Rosco » Sun Nov 20, 2011 2:30 am

precious44 wrote:Reading the various commentaries on the recently released news GBB seems to be very cheap and im sure Casey caused a sell off after his sell recommendation but im surprised the sp moved so little after such a positive report.


This could be the reason for the recent SP performance, from stockhouse;

skipjackmack1

hey steadfast...the comparison with PMI Gold (mcap $258M / 4.85Moz) is interesting...clearly they're 6-9 months further down the road (PEA due Dec) plus $20-25m more cash...imo, the cash difference is a key point...for sure, some GREAT posts on this board about the likely resource present at the granada property...but how does gbb move things forward if the 43-101 DOESN'T result in a magical, large sp re-valuation upwards? no mention of cash position or burn rate on the August corporate presentation...no recent insider purchasing despite the recent 52 week lows...and there's still c.10m un-exercised warrants out there at 0.12-0.30, of which any remaining 0.12 warrants are coming up for expiry in Dec and are in the money and may be sold off...if it doesn't directly hint that a significant dilution is coming soon, it doesn't exactly rule it out either...gbb mgt needs to provide a clear, realistic plan that doesn't rely on dilution or existing shareholders getting killed by warrants getting exercised and the shares sold off...preferably in their next md&a (this week?)...imo, only then will we start to see the sp moving significantly north...thoughts anyone?? just sayin', sjm
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Re: Gold Bullion Development Corp. (TSX-V:GBB)

Postby Rosco » Thu Dec 08, 2011 12:20 am

More good results from GBB.

Gold Bullion drills 182.95 m at 1.11 g/t Au in Quebec


2011-12-07 09:11 ET - News Release


Mr. Frank Basa reports

GOLD BULLION ANNOUNCES ADDITIONAL POSITIVE DRILL DATA

Gold Bullion Development Corp. has released additional drill results from a number of holes throughout the mineralized area of the Granada gold property. The subject property is located along the Cadillac trend in northwestern Quebec, five kilometres south of the city of Rouyn-Noranda. Nearly 80 kilometres (78,414 metres) have been drilled since December, 2009, and in the process, Gold Bullion has confirmed extensive mineralization on the Granada property. To date, the mineralized area extends approximately 1,500 metres east-west along strike and roughly 750 metres north-south. The mineralized area does not include data from historical drilling. High-grade gold intersections continues to be discovered as evidenced by 207.27 g/t gold over 0.75 metre (by Screen Metallics) near the surface and 63.5 g/t gold over 1.0 metre (by Screen Metallics). Highlights of these subject holes follows:

182.95 metres grading 1.11 g/t Au in hole GR-11-271;
0.75 metre grading 207.27 g/t Au at only 24.55 metres (22.1 metres vertical) depth;
1.0 metre grading 13.71 g/t Au at 71.5 metres (64.3 metres vertical) depth 247.5 metres grading 0.47 g/t Au in hole GR-11-199;
1.0 metre grading 63.5 g/t Au at 60.0 metres (53.5 metres vertical) depth;
16.25 metres grading 1.86 g/t Au at 129.75 metres (115.6 metres vertical) depth.
Hole From To Interval Grade
(m) (m) (m) (g/t Au)

GR-10-138 7.50 171.50 164.00 0.38
including 116.00 171.50 55.50 0.77
including 116.00 145.50 29.50 1.15
including 116.00 125.00 9.00 2.16
GR-10-144 79.50 95.00 15.50 0.63
and 155.00 275.00 120.00 0.33
including 235.50 275.00 39.50 0.74
including 261.95 263.00 1.05 19.86
GR-10-157 16.50 244.50 228.00 0.43
including 45.50 116.50 71.00 1.06
including 45.50 70.00 24.50 2.68
including 56.50 61.00 4.50 3.75
including 69.00 70.00 1.00 44.80
GR-10-183 124.50 148.00 23.50 0.51
and 189.50 211.00 21.50 0.53
including 197.85 211.00 13.15 0.71
and 229.50 238.50 9.00 0.61
and 272.50 296.50 24.00 0.46
GR-10-187 35.50 313.50 278.00 0.38
including 98.40 120.80 22.40 1.46
including 119.70 120.80 1.10 24.70
and 200.50 265.50 65.00 0.68
including 200.50 203.80 3.30 4.06
including 240.00 265.50 25.50 1.00
and 292.50 313.50 21.00 0.48
GR-11-199 1.50 249.00 247.50 0.47
including 60.00 146.00 86.00 1.20
including 60.00 61.00 1.00 63.50
including 129.75 146.00 16.25 1.86
GR-11-259 47.00 77.00 30.00 0.42
including 47.00 50.00 3.00 1.38
GR-11-258 84.00 112.50 28.50 0.80
including 111.00 112.50 1.50 8.98
GR-11-266 29.00 145.50 116.50 0.31
including 29.00 52.00 23.00 0.74
including 38.50 47.50 9.00 1.45
including 138.00 173.50 35.50 0.31
GR-11-268 111.50 177.50 66.00 0.47
including 140.00 159.50 19.50 0.69
and 175.00 191.10 16.10 0.45
GR-11-269 68.50 166.50 98.00 0.43
including 119.00 166.50 47.50 0.62
including 141.50 152.50 11.00 1.35
GR-11-271 24.55 207.50 182.95 1.11
including 24.55 25.30 0.75 207.27
including 71.50 72.50 1.00 13.71
including 142.00 207.50 65.50 0.39
including 206.00 207.50 1.50 10.49
and 206.00 258.00 52.00 0.79
GR-11-275 51.00 76.50 25.50 0.47
and 161.00 163.00 2.00 1.29
and 228.00 249.00 21.00 0.47
GR-11-280 31.00 76.95 45.95 0.33
including 37.50 53.00 15.50 0.55
GR-11-287 3.00 183.00 180.00 0.47
including 104.00 173.50 69.50 1.05
including 110.40 111.30 0.90 30.03
including 122.50 173.50 51.00 0.79
including 122.50 123.00 0.50 38.75
including 172.60 173.50 0.90 15.79
GR-11-286 190.50 263.00 72.50 0.44
including 190.50 198.00 7.50 2.96
including 190.50 192.00 1.50 10.63
overlapping 261.50 276.00 14.50 0.39
GR-11-293 18.50 140.50 122.00 0.37
including 18.50 25.50 7.00 1.25
including 59.50 99.00 39.50 0.41
including 95.90 99.00 3.10 3.61
including 125.50 140.50 15.00 0.97
GR-11-295 17.00 92.50 75.50 0.36
including 18.00 29.50 11.50 1.12
including 78.50 92.50 14.00 0.72
GR-11-297 18.00 88.00 70.00 0.63
including 54.00 88.00 34.00 1.05
including 70.50 88.00 17.50 1.71
including 86.50 88.00 1.50 7.23

Just one of the 20 drill holes, hole (GR-11-282), did not intersect significant mineralization and was therefore omitted from the above table. The widths reported in the preceding table are drill widths. True widths are unknown at this time. All assays are uncut, length-weighted average values.
Core analysis from the above holes was conducted by ALS Chemex Labs in Val d'Or, Que., and the Accurassay Laboratory in Timmins, Ont. Gold was assayed by fire assay with additional metallics analysis done on samples where visible gold was identifiable. Quality control was further enhanced by the insertion of blind certified standard reference material and blanks into the sample stream at regular intervals by logging personnel to ensure an independent assessment and analytical accuracy.

SGS independent qualifying person, Claude Duplessis, Ing, is responsible for the preparation of the resource estimate program within the meaning of National Instrument 43-101. Mr. Duplessis has verified and approved the data disclosed in this release including the sampling procedure, analytical and test data underlying the information.

About SGS

The SGS Group is the global leader and innovator in inspection, verification, testing and certification services. Founded in 1878, SGS is recognized as the global benchmark in quality and integrity. With more than 67,000 employees, SGS operates a network of over 1,250 offices and laboratories around the world.
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Re: Gold Bullion Development Corp. (TSX-V:GBB)

Postby JIMBOWEN » Mon Apr 02, 2012 8:07 pm

Anyone still in these? Any views on the NI 43-101 out today?
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Re: Gold Bullion Development Corp. (TSX-V:GBB)

Postby Pixel8r » Mon Apr 02, 2012 10:35 pm

JIMBOWEN wrote:Anyone still in these? Any views on the NI 43-101 out today?

I'm still in them but haven't got that many but am down around 59%, biggest dog in my portfolio. I have decided I am just going to hold them and see what happens, without bothering to follow them much.

http://goldbulliondevelopmentcorp.com/F ... elease.pdf

A quick browse of the above it seems that their costs are going to be expensive @ C$29.3 per tonne. What are your thoughts?
"Money is Gold, and nothing else"
(As John Pierpont Morgan once stated under oath before the USCongress and the Pujo Commission in 1912)
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Re: Gold Bullion Development Corp. (TSX-V:GBB)

Postby Rosco » Tue Apr 03, 2012 2:36 pm

Pix - I think the cost per tonne stated is for the higher grade only and includes stripping costs chasing it!

In other words the strip ratio at that grade is very high and should come down significantly when using a lower average grade.
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