Considering the title of this tread I find the comments way too...

Considering the title of this tread I find the comments way too negative.

Let us look at the bright side: The price of gold hit a record high this morning at 1223/oz. With Euro sovereign debt worries threatening global markets, the price of gold is likely to increase in the short term.

And, with all of the capital cost out of the way clearly gold production will rise significantly at Wiluna with dramatically less cash cost.

This would be very attractive to any party considering a take-over bid. Apex has already done the hard yards getting to the gold (at a great expense) now its just a matter of extracting it.

Also, on the issue of cash flow Apex has indicated in the quarterly that significant interest has been generated both "domestically and internationally" for the Youanmi project with "indicative bids" due this week.

This is why it's easy to see why according to Mr Ashley in the AFR article: "Certainly cash is tight but there is no way while my arse is pointing to the ground that this is going under".

This is a statement coming from a man who not only has a stellar 20 year reputation as a mining executive but is also a fellow of the Chartered Institute of Management Accountants.

So, if anybody should know what an insolvent company looks like, it would be him.

DYOR