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.
We all know that finance is needed to build mines. You aren’t...
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