My biggest worry is the state of balance sheet and what the...

My biggest worry is the state of balance sheet and what the liabilities are. They discussed secured debt but not unsecured. I am worried that contractor payments and other fees have not been paid. Even if they make $200 per oz on 500,000 oz that is $100M. There is a lot of gold there not yet included.

The market feels, that

1) Margin can not be maintained
2) BLK will not have the funds to realise it
3) 6 million oz in the ground does not stake-up.

Maybe all 3.

If not this is very cheap.

Just my view. DYOR