Clearing the debt is one of the risk factors - 6m raise is gonna...

Clearing the debt is one of the risk factors - 6m raise is gonna get rid of a good chunk of it in the short term and recent production figures are pretty impressive for a little minnow, enough to bank on in my opinion. Unless things go particularly pear shaped they are well on track to clear the debt this year.

In the interim - ML on pearce north will get granted and they can work that resource with their owned existing infra - and then there is Sorby..

There is a chance the company could fail if creditor payments aren't met but on the balance of probabilities I believe they would work out something with their creditors if the production figures are maintained in the near term - I reckon you are right, it might come back to issue levels in the immediate term but I still think risk vs reward this is undervalued.

What other miner with a MC under 10m is boasting this sort of cashflow and debt smashing profit?

Highlights from last qrtly:
Record Gold and Silver Production at Mineral Hill $4.9M Profit Turnaround
 9,209oz of Gold and 111,826oz of Silver produced for the quarter o Gold production – 79% increase from last quarter o Silver production – 226% increase from last quarter
 Currently high grade sulphide ore from the Pearse open pit is being processed through the flotation and CIL circuits with average total gold and silver recoveries achieving 71.2% and 65.8% respectively
 Pearse open pit produced and delivered over 45,000 tonnes of ore to the plant and stockpiles. The open pit ore has averaged 6.64 g/t Au and 71.81 g/t Ag, which is above expectations
 Commissioning of the second concentrate filter and CIL carbon regeneration kiln were both completed during the quarter, with increased plant unit throughputs realised in March 2016
 Unit cost of production for the quarter is $1,097/oz Au (including Ag credits). This is a decrease of 22% from the December quarter (reported at $1,399/oz). This is higher than planned as it includes certain non-recurring plant commissioning costs
 The Company’s EBITDA for the quarter was $2.8M. Net profit for the Company improved $4.9M with profit for the quarter of $0.8M compared to a loss in the previous quarter (December 2015) of $4.1M
 Share issue to creditors of $2.9M with a further decrease in trade creditors of $0.7M for a total decrease of $3.6M, current balance is $13.9M down from $17.5M at the end of December
 The cash balance is managed so as to reduce creditors as much as possible. At the end of the quarter it was $0.84M, up from $0.02M at the end of December