If they hit anywhere near production guidance, in fact lower end...

If they hit anywhere near production guidance, in fact lower end and AISC not as good as they are forecasting, the 9.6 and payables will be sorted in cashflow - yes it delays profit for 6 - 12 months in a worse case scenario, but does that really matter that much in the scheme of things?

Yes they are a bit short of capital in the meantime - but even if they did an issue at 2 cents (they wont - but trying to make a point) at 1 for 2 and raised 8.5 million bringing market cap to 27 million or thereabouts - still looks cheap imo.

I get the managment damage etc etc etc, but imo this should not be priced as a basket case.