It seems that they got stung on huge capital expenses starting the plant and new mine. Which was let's face it always a ballsy move in their position.
It looks line most of that has passed. Debt is now a little under $14m. The 1/4 before the hall road cracked had an operating cash flow of $800k and production has been relatively consistent with the aforementioned 1/4.
If they can get another cut open close by this bad boy will turn around quick smart. Those options however are going to keep a lid on things. Also convertible notes due in Feb. Don't expect a 10 bagger anytime in the next 24 months.
KBL Price at posting:
0.5¢ Sentiment: None Disclosure: Held
