Ann: Quarterly Activities/Appendix 5B Cash Flow Report, page-8

Put it this way if the directors believed it had no where to go would they be taking shares for remuneration instead of cash risking not getting a cracker if the company collapses and yes you are correct all money comes from placements,CR's which has a share component,money doesn't come out of air like some people would have you believe and the placements are more dilutionary.
Big issue I have with HC is unemployed with no money coming on with comments that are really off track,away from HC on other SM platforms they would get mauled pretty quick as posters would want to see credentials
1.8tcf potential at p50 is bloody huge