via gov.sk.ca - Saskatchewan Mining Development Corporation Reorganization Act

The Saskatchewan Mining Development Act had been repealed some time ago, but not before the rights to the Jolu Development Corporation had been sold to Golden Rule, a gold exploration company that had consolidated the prospective ground in the heart of NTS 74-A-01, the map co-ordinates comprising the prospective ground of the Jolu and Star Lake Mines.  

All of the development prospect in this area wound up consolidated under a single company, Golden Band Resources, which was run by Roy Lloyd, the former CEO of SMDC corporation.

While rummaging through the spaghetti plate full of loopholes that is GBN, a surprising detail emerged regarding something called a 'special share'

"f) “purchaser corporation” means a corporation, the articles of which contain:

(i) a provision requiring its registered office and head office operations to be located in Saskatchewan; and

(ii) a class of shares, consisting of a single authorized share, the primary purpose of which is to require the approval of the holder of that share, by a separate vote as a class, with respect to any proposal to transfer the registered office or head office operations of the purchaser corporation to a jurisdiction other than Saskatchewan;" 

Something not mentioned in the technical reports and history of mining and development in Saskatchewan is the public-private oversight by the crown.  There is a lengthy history of mining development that created the industry in Saskatchewan.

The change-in-control put issued to PROCON as part of the reorganization of GBN through insolvency, namely the stalking horse credit bid, is very much the same the same as the 'special share' in the Saskatchewan Mining Development Corporation Reorganization Act.

It would not come as a surprise that should Golden Band emerge finally as a private corporation(not publicly traded) instead of a fresh start under a quasi-reorganization, that its name would be The Jolu Development Corporation, an offshoot of the former SMDC, that had been merged into GBN.  Or would GBN be amalgamated into Jolu Development Corporation? 

http://www.qp.gov.sk.ca/documents/English/Statutes/Statutes/S30-1.pdf

The history of GBN is very much a part of Uranium exploration in the province, and goes back decades. The discovery of very valuable Uranium deposits overshadowed any gold mining prospects for a very long period.

https://en.m.wikipedia.org/wiki/Eldorado_Mining_and_Refining

Eric Partridge is not the only name associated with exploration in the La Ronge Gold Belt, and the company name that keeps coming up in mining development in the province is Uranerz, which has a very long association with developing the industry along with SMDC.

Klaus Lehnert-Thiel owns approx 2.5% of the outstanding float, and would stand to become a 5% holder of the emerging company if half the shares were cancelled.

http://www.miningandenergy.ca/saskatchewan/article/the_calling_of_the_earth/

The whole proceeding of the insolvency of GBN is very much tied up with the crown.

-F6