Take a look at the statutory accounts published on the 2nd/3rd....

Take a look at the statutory accounts published on the 2nd/3rd. While financials are for the year ended June 2011 and contain nothing new, buried on pg 48 "Subsequent Events":
a) production has been below annual run-rate expectations (again)
b) The group has fully drawn all funds available under the Red Kite facility (unbelievable given high gold price and historic cash burn)
c) The group has employed a bank to review financing options

The director resignation a month ago should have been a red flag, but this stock is now uninvestable until new management are in place and additional capital has been raised