Hi all,

Here's my take on GBN Q1.

They withheld profits but were profitable when you dig a bit deeper.

Here have a look at the Q1 financials.

Net compressive loss(7,470)

+2,791 silver ounces(I didn't see any profit sold on silver) * $32=$89312

+unsold gold(from MD&A 10933 produced-10,0031 sold) 902 ounces* $1430= $1289860

Estimated Net Profit if all resources sold for quarter=$1371702

/ ~280 million shares = 0.004 per share

It's worth noting because all expenses are present we don't have to do any fancy calculations for the extra profits

This is encouraging cause they ARE making money. The most likely cause of silver is they are waiting for a favourable price to sell and couldn't sell the gold due to closing of the respective quarter.

Cheers,