AKvetch - Haven't you figured out yet...
...that SEC filings these days are mostly provided to meet the SEC rules (even when they don't make sense).
The "liquidity" statement has been issued for almost six years now and still the company seems to muddle through and avoid bankruptcy.
In my opinion, to really undestand this opportunity it is necessary to use sources in addition to the SEC docs and not apply most traditional investment analysis techniques. Also in my opinion, there are only four issues governing the success of this company 1) average grade including paystreaks (across the whole 74,000 acres); 2) processing costs per ton (of the 11,000 tpd plants); 3) price of gold (in relation to processing costs); and 4) time. All other issues can be resolved positively at cost increments that will not greatly dilute the final share price.
Rod