Banks Island Gold Ltd BKSLF

RE:RE:Anticipated Financials

[miningman]

Well if theres any truth to the suggestion that the suppliers are starting to lose their sense of humour, it would support the report from management a few weeks ago that the debt that was owed to one supplier was settled by the issuance of shares at a nominal 43 cents valuation. Cant see that supplier being too impressed with the SP since has to hold them for 4 months before selling. Issuing shares for debt is usually one of the last desparate efforts from a dying organization. And of course the suppliers are a fairly tight group.... if the explosives supplier is not being paid , he tends to warn his buddies who supply fuel, oil, drilling consumables etc. I wouldn't expect any of this to be formally announced with the financials but there may be some conclusions that can be drawn from the numbers.