Ann: Supplementary Prospectus, page-38

You only need to look at MikeonMinings recent tweets,

Progress has virtually stopped on site, the progress of the tailings dam is minimal and the work at the processing facility over the past month appears to only have a hand full of works.

I am really surprised WKT has continued developments over the past few months, where the current debts are over $17mil. you can certainly see why the entitlement offer is at a ~50% discount to the last traded price and shareholders have the right for 2 new shares for every 3 shares they hold. One has to wonder why WKT didn't cease work back in April when they first became aware of the bank's issues with the SBLC, raised the funds required to pay out its creditors then work with the bank on an alternative solution.