If they can somehow debt finance the processing plant that would...

If they can somehow debt finance the processing plant that would go along way to funding the project (perhaps a deal with the Chinese on that front? Chinese off takers, Chinese board members, Chinese offices....surely they can deliver something).  Equipment financing is relatively easy so that could help also. 

in terms of all graphite projects, BAT is the most advanced and derisked.  If others can secure financing then the finger has to be pointed at BAT management.  Either way I suspect they won’t announce anything until the whole financing package is sorted