David Flanagan giving BAT a kick on Twitter, page-189

We all know that finance is needed to build mines. You aren’t raising anything new. BAT are working through the process systematically and status is clear.

BAT targeted cash balance was $5.0M by end of 2018 and they achieved $7.17M. So they did very well against that target.

BAT is aiming to finance USD $39.5M and I would think a bit more for working capital.

One other graphite stock had cash balance $2.7M end of September quarter. They need in the order of USD $140M to fund their mine.

BAT with all the infrastructure completed and paid for is in a much, much stronger position. As a comparison we only need to raise perhaps 30% to 35% of the funds needed by a peer developer also in Africa.