Not a great look. I am pretty sure, and please correct me if I...

Not a great look.

I am pretty sure, and please correct me if I am wrong, that since they have been suspended for more than 5 days, they would have to issue a short form prospectus.

This means that all directors would have to sign off and give a true at the moment picture of financials.

My view is this,

BLK have been asked to top-up the orion mine finance as they have probably breached debt covenants as market cap may be under $50M or debt/equity may be over 75%. I think it is 80%.

BLK have to pay back $13M by December 31,2017. That is 40 days away, or 6 weeks.

BLK have gone to refinance the entire debt, as previously announced, but do not have an unconditional approval.

So they think they can get it done whilst in suspension. However these things always take longer than anticipated.

The company may only have $5M in cash, based on previous cashflows. Unless they can produce at less than $1500 AISC then no one will refinance this debt.

Directors must be unsure which way to go here, if they can not find finance, then VA is the only answer or they will be trading insolvent.

No doubt they will stay in suspension, until finance is approved.

Pretty obvious that Orion will not give a rollover.

Just my view. Black or white.

Good luck holders.