To me the company seems to be struggling to keep its head above...

To me the company seems to be struggling to keep its head above water with the following;
Last quarters gold sales not covering wages, let alone funding for much needed exploration with the Henty mine clsoing towards the end of 2015 - no incoming cash.
Liongold pulling out of their agreement to acquire an additional $2.37M of shares - they see no value in the company.
The recent 21,000 oz depletion of reserves at the Henty mine.

Also the Henty mine processing plant is virtually worthless. It would only be useful if a mine operating close by wanted to purchase some of the equipment. The money they make from the scrap metal and selling of equipment usually covers the mine closure and rehabiliation costs.