movement, page-9

Towie
the latest quarterly shows negative 5K in the kitty and an 18 million loan facility almost fully used up.The company met the payment of interest ($881,846) and redemption of notes ($14,077,489) in relation to March 2012 Convertible Notes (RSNG) by the issue of 979,828,912 shares at $0.0009 per share for the payment of the interest and the issue of 16,561,751,963 shares at $0.00085 per share for the redemption of the notes.
perhaps the most concerning aspect is the 20.55 Billion shares in issue.

At a 0.5 g/t gold cut-off, a combined Indicated and Inferred Resource of 7.5 million tonnes at 1.5 g/t gold for 350,000 ounces has been estimated.This is not a one billion dollar resource only 525 million and thats if it is proven, it is only an estimate.Cash costs for production need to be taken into account and of not Barrick have decided not to continue at Agate Creek .