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gold bullion development cor (GBB) Snapshot

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52 Week High
09/23/13 - C$0.08
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Market Cap
14.2M
Average Volume 10 Days
1.7M
EPS TTM
C$-0.01
Shares Outstanding
257.6M
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gold bullion development cor (GBB) Details

Gold Bullion Development Corp., a junior mining and exploration company, engages in acquiring, exploring, and evaluating mineral resource properties in Canada. It primarily explores for gold and silver. The company focuses on its 100% owned, the Granada Gold Property, located near Rouyn-Noranda, Quebec. Gold Bullion Development Corp. was founded in 1985 and is headquartered in Montreal, Canada.

gold bullion development cor (GBB) Top Compensated Officers

Chairman, Chief Executive Officer, President ...
Total Annual Compensation: --
Chief Financial Officer
Total Annual Compensation: --
Compensation as of Fiscal Year 2013.

gold bullion development cor (GBB) Key Developments

Gold Bullion Development Corp. Announces Signing of Custom Milling Agreement with IAMGOLD

Gold Bullion Development Corp. announced that it has signed a custom milling agreement with IAMGOLD to process ore from the Granada gold property at their Westwood Mill facilities. The officers of both companies have approved this agreement. The signing of this agreement is significant for the company and its shareholders as an efficient, direct, well-defined path to commercial gold production using Granada ore via implementation of the 'rolling start' concept. The agreement provides for and delineates the terms as follows: Receipt of Gold Bullion ore from the Granada project to be processed in 50,000 to 70,000 tonne batches three times per calendar year at the Westwood site. The annual target is set at 192,000 tonnes. The agreement anticipates that gold doré bars will be poured at the IAMGOLD mill, then transported by secure service to the Royal Canadian Mint for refining, with the finished product then sold as bullion to Scotia Mocatta, a division of Scotiabank Global Banking and Markets (Bank of Nova Scotia). An initial three-year term with access to additional milling years subject to CAPEX investment in the mill by Gold Bullion. Contract commencement is subject to the following: Gold Bullion obtaining its Certificate of Authorization from the proper Quebec authorities for open pit mining operations at Granada; IAMGOLD obtaining its Certificate of Authorization from the proper Quebec authorities for the processing of Gold Bullion's ore at their Westwood site; Certain CAPEX and OPEX deposit payments prepaid by Gold Bullion due when both Certificates of Authorization have been granted. The Gold Bullion Operations team first goal is to ship a trial-milling batch of 30,000 tonnes for milling in October 2014 prior to winter freeze up. Subsequent milling will continue in April 2015.

Gold Bullion Development Corp. Receives the Preliminary-Feasibility Study for the 'Rolling Start' at Granada

Gold Bullion Development Corp. announced it has received the preliminary-feasibility study 'PFS' for the 'Rolling Start' at Granada. All in total cash costs for gold production at the higher grades of 4.24 g/t gold from the open pits assessed by this study are USD 797 per ounce at an internal rate of return of 169% before tax. The after taxes NPV has an IRR of 139% with an NPV of CAD 20.04 Million. At this stage of the property development the PFS delineates gold production of 73,585 ounces at the annual rates of 25,669, 27,556 and 20,361 ounces per year respectively over the next three years. The higher-grade resource to be mined for the 'Rolling Start' gold production is based on reserves of 569,000 tonnes at 4.24 g/t for 73,600 ounces of gold at a cash cost of USD 797 per ounce. Mill feed including dilution is 170,000 tonnes at 3.72 g/t gold in the Proven Category and 398,600 tonnes at 4.46 g/t gold in the Probable Category. These gold grades demonstrate and are indicative of the inherent flexibility the Company has with respect to grades contained in the current resource at the 11,000-hectare Granada Mine property. The synergy of accessing an existing operating mill in the prolific gold producing Abitibi region of Quebec in tandem with the proposed open pit 'Rolling Start' mineral extraction plan brings the Company into position as a potential gold producer. During this initial development phase the Company is continuing to study and analyze the economics around underground mine development and will also engage in 'right sizing' property holdings. The Company also has drill-defined targets to the north of the LONG Bars Zone aimed at corroborating earlier drill data that outlined the potential for an additional 1-2 million ounces of gold at grades of 3.0 to 4.2 grams per tonne. The current higher-grade resource estimation and the potential addition to the resource cover approximately 20% of the already explored LONG Bars zone. By increasing the input grade of the open pitable resource when practical, de-risking of the project will remain an ongoing priority going forward.

Gold Bullion Development Corp. Approves Amendment of Articles

Gold Bullion Development Corp. has approved amendment of the Company's Articles at the AGM held on April 4, 2014.

 

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