Golden Band Resources Inc. reported financial and production results for the first quarter ended July 31, 2013. The company incurred a net loss before income tax of CAD 4,242,144 in first quarter of 2014 against a loss before income tax of CAD 4,946,940 in first quarter 2013. The decrease in the net loss from first quarter 2013 to first quarter 2014 is mainly due to a decrease in expenses. Net loss was CAD 4,242,000 against CAD 3,580,000 a year ago. Net loss per share was CAD 0.01 against CAD 0.01 a year ago. Cash used in operations was CAD 8,080,000 against cash generated from operations of CAD 165,000 reported last year.

During the first quarter of 2014, the company produced nil gold ounces compared to 8,395 gold ounces in the first quarter of 2013. The reduction in gold production is due to the shutdown of the mill for upgrading. Production from underground operations at Roy Lloyd mine produced a combined total (high and low grade) of 8,436 tonnes of ore at an average grade of 6.85 g/t gold.