Ann: 2017 Full Year Statutory Accounts and Appendix 4E, page-38

What the auditors have forced this year should have happened last year. There is no way $60M should have been added to inventory in 2016, it should have been expensed.......Management tried it on and got away with it...

So if 2016 had seen the loss it appears it should have...... would SJ still have received the $120k bonus he received........Seems a little unfair when the company can't even pay the mining contractor.

.....And despite record levels of debt and severe cashflow problems, the directors are confident the desperately needed lines of credit provided by the unsecured loan providers will continue to be extended, not because discussions have taken place and full disclosure made.............but because it hasn't been a problem in the past........Do they know that BDR have been breaking loan covenants?.......Not very reassuring....

For BDR to continue without further funding EVERYTHING needs to go perfectly from here on.

Given the track record is this likely........Russian roulette with only one chamber empty.........but only if there are about 100 chambers.