harrydent,The gloomy picture you've painted must have assumed...

harrydent,

The gloomy picture you've painted must have assumed that all BLY customers will default. But BLY's customers are big and are not likely to default. There is close to $339m in receivables which over the course of the year BLY will be able to collect. So paying $85m due in April 2010 should not be a problem.

Besides, 4 of BLY's top 10 customers are big gold producers. BLY will still be able to generate cash in 2009.