The rock that ANV sold (aka the metal it got from the rock it processed) didn’t work. the company keeps losing cash on operations per quarter (over $62m last time around)
The scissors that ANV sold (aka the machinery owned that ANV says was excess to requirements, which makes you wonder why they bought it in the first place) just wasn’t enough: In short, $8.9m from a glorified garage sale isn’t going to plug the hole long.
The paper that ANV is now trying to sell, well it was kinda inevitable. Tonight’s NR, right here.