With all due respect KBN, if that is your view you are either on...

With all due respect KBN, if that is your view you are either on the board yourself or just have your head firmly in the sand! These loans the current board are taking out will keep the lights on at best, but not for long. Doesn't matter how good the resource is if you go broke due to bad management which is the case here.
these guys have rents and rates in excess of $1m per year and a minimum spend on the tenements of probably 3x that, and if these minimum spends aren't met the DMP take the tenements back and it's game over. I am somewhat frustrated with your ignorance as you are also a holder, and should be holding them to account. The only way gold can ever come out of this asset is if the Board can raise $10-15m in the next month and they step aside and let someone with a brain and experience run the show. Remember they now have $4m debt which will need to be re-paid or converted to equity to at least tidy the company up.
Sadly this is a great asset, but managed by a board that have no idea what they are doing and their egos and expense perks seem more important than doing anything with the asset. It's about time the VAN shareholders started to hold the board to account, and fast!