OK lets just reed the independent auditors report prepared by Deloitte and available on the the net it doesn't REED too well.
It talks about the 18.9 million dollar loss and then states that there is the existence of a material uncertainty that may cast significant doubt about the consolidated entity to continue as a going concern and therefore,the consolidated entity may be unable to realise its assets and discharge its liabilities in the normal course of business.
Probably explains why the board now consists of two REEDs and a lawyer.They will certainly need the services of a lawyer on the board over the next few months than a geologist.
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