Ann: Appendix 3B, page-3

That's one way to spin it ...

Another may be that ABX can't pay its suppliers due to the no-end-in-sight path to revenue. So in desperation to hold off any creditor actions, it decides to pay its bills with shares (which may well be sold on market pretty soon).

We don't know how much was actually paid off with the "$250,000" worth of shares. For all we know, it might have been just $100,000. Such a move would:

1. Keep the creditors at bay by "paying off" what is owed to them in shares.

2. Afford creditors the chance to sell their shares on-market - effectively ABX get new or existing shareholders to pay off its creditor debts.

3. Create a misleading impression (if less than $250,000 was actually owed to the advisors and contractors) that there are a bunch of people with inside knowledge of the company that think the shares are currently undervalued. This may encourage buying, which would enable those creditors to realise some money without the SP tanking.

Would the management of a company behave in such a manner? Would the ASX allow it?

Would this be more or less misleading than announcing production in Dec-2014 and still not selling an ounce by Dec-2015 without so much as a "please explain" from that bastion of regulatory ethics the ASX?