Ann: Quarterly Activity and Cash Flow Reports to 30 June 2017, page-5

This is so far from the truth...there is no immediate need for cash
The current drilling program is less than $1ook.
BECAUSE OF THE PROVEN ACCURACY OF ALL PREVIOUS GEOLOGICAL WORK.
there is no need to prove up a 20-30 year mine life like many of the SA mines.
The quality speaks for itself.it is more likely that a JV Battery manufacturer will want to lock up long term supply. There is a need for good consistent quality flake like that defined by HXG. Rather than produce flake of variable spec.

As to cash, remember the is a option conversion due 30th Sept, this should bring in over $600k,then there is approx. $4m of BMR shares due for Nasdaq listing late Sept. Put all this together with the figure released in last Qtly HXG has sufficient cash to complete its feasibility studies prior to mining with a battery producer in preference to graphite trader wanky offtake agreement.

Give me an Australian producer with little or no soverign risk.