Doing a reasonable analysis...
I take you statement as made in good faith and not trying to un down the company.
"As of the end of the last quarter, we had accounts payable 5 times greater than cash on hand - we're broke."
However, your understanding of Financial Statements is woefully poor. Cash on Hand means absolutely nothing with regard to the strength, or the success, of a company. (Ex. $1.00 COH and $1MMM Receivables from solid entities and you are a billion dollars stronger in Current Assets.)
Let's look at our Balance Sheet and analyze the actual strength and accomplishments of management starting with Current Assets.
2012 Current Assets $38,819M, Current Liabilities $80,594M, Ratio: 2.072 5/31/2012
2011 Current Assets $19,540M, Current Liabilities $43,389M, Ratio: 2.221 5/31/2011
Thus you see we are almost exactly at the same ratio and have even improved slightly. The absolute numbers are bigger, because we are a much bigger company.
Now, let's look at our Long Term Debt on the Balance Sheet.
2012 Long Term Debt $57,203M, 2011 Long Term Debt $77,453M 5/31/FY resp.
That is a debt reduction of $20,250M, of very high interest rate debts in one year!
Now, let's look at Stockholder's Equity.
2010 $(25,246M), 2011 $7,891M, 2012 $48,454M, 5/31/FYs respectively.
This means that with the start-up through full production, with capacity available at the time, we have moved from being $(25,246M) in the hole to $48,454M in Stockholder's Equity. That is an improvement of $73,702M in our first three years since we received permission to operate!!!
With the 30% expansion of production anyone, with just a little accounting at the undergraduate level, can tell you with a simple break even analysis that this rate of increase will now double, all things being equal, as our marginal profitability moves up rapidly once we are above the break even point. (I think we have a string of seven or eight continuously profitable quarters behind us.)
Finally, our audited FY statements carry an unqualified opinion from Ernst&Young, for two years running, that we have no shortages of funds to operate as planned for the following twelve month period. If my memory serves me right, they removed any ongoing operations risk from their opinion after 2010. Perhaps, if you had the Financial Statements mailed to you and read them, along with the Accountants Certification you would not be exclaiming to the world, "we are broke".
So you see fundamentally we are doing very, very, well. The extra bond PP money is not sought for continuing operations, but rather to increase even more our rate of growth. (1) Provide extra cash to PDI, to help it stand alone as a separate company. (2) To terminate the Gold and Silver Facilities with Deutsche Bank that will put millions more dollars yearly on the bottom line. (3) To develop Lomero-Poyatos at an accelerated rate again increasing our rate of growth some more. (We have plenty of money to meet all of our legal commitments to Huelva already!)
So fundamentally we are very sound and growing very rapidly. Those are the undisputable facts. What relationship this has to our Share Price I have no idea. The Share Price does never seems to react to good news and fundamental improvements. IMO that will change someday, probably when money flows into the sector again and investors search for a sound place to invest. The GDXJ is down 47% still after last month's up tick, and I trust the government to continue to destroy the dollar and force gold to at least $2,000.00/oz.. But, I have no expertise with market prices and maybe for all I know our share price will decline. I do know it will not be from fundamental weakness.