Ann: Trading Halt-KBL.AX, page-33

I hope I am wrong but revenues are low JW. and, look at the share price!

There is $65M liabilities against remaining Gold representing about half the liability as I understand.

" Over the next six months we plan to mine and process the remaining 19,000 ozs of gold within the pit1, these ounces represent approximately $34 million in value (at a gold price of A$1,800/oz)."

I cannot see how management can get out of this situation, other than throw in the towel, the creditors will appoint an administrator, which will then in turn look to liquidate what assets they have, and stop the bleeding! After all what is the alternative, print more shares and continue bleeding from the neck in a debt that is way beyond KBL.

I hope I am wrong.