GBS has consolidated over 3,000km² of prospective tenements, near producing gold mines and two processing plants within a 125 km radius in the Northern Territory of Australia. It's Australian subsidiaries have appointed Mr. Andrew Saker, Mr. Darren Weaver and Mr. Martin Jones of Ferrier Hodgson as joint and several administrators. The value of GBS shares is uncertain pending the outcome of the administration process and the recapitalization of the Company.