it was impossible to stuff it up, page-4

That's because production costs don't take into account finance and other non-production expenses.

AYN might not trade again, but someone else will buy the assets for a song. You've got all that silver sitting on the pads, for a start, plus all the mining and production infrastructure, more than you had when AYN took over from MacMin. For a start, Credit Suisse International will own the assets of the company if it does go bust, they won't want to get their hands dirty actually running a company, so they'll appoint a receiver to sell the business.