RE:Say It Ain't So JoeNo real suprise here. They HAVE been bailed out so far since start of production by HIGHER gold prices. As the grade dwindles, they can only hope for the high grade veins to show up in all these opened stopes SOMEWHERE. Lots of tonnes going thru the mill at higher AISC.
Long term debt is still about $460M US if you include what is owed this year, as the company shows negative working capital.
IMO there is still a good chance they can ZERO out the equity before the debt gets paid off.
Joe O and RQ are both now gone, laughing all the way to the bank?
IMO the truth is that the high grade 16 grammes/tonne was NEVER actually there, and these guys knew it then, and know it now, that is why they have left the picture.