Ann: Quarterly Cashflow Report, page-2

I'm no Einstein but 80k in mining exploration last quarter and now the expected 100k spend for the same this quarter doesn't progress you very far - most likely a lease requirement that they have to spend x amount on exploration per annum..

So any pending news re graphite looks minor at best or even more likely the usual nothing. If they spend 8ok - 100k and whatever k per quarter how is they report absolute zero on progress. Surely they are achieving something with this minimal spend in exploration.

She is just running it on the smell of an oily rag with the exception of Admin. Even there she continues to cost cut with some salaries reduced and another office change of address is for only one reason.
Costs per quarter now around half a million - total 2 million per year having copped a hit on relinquishment of other tenements.

It would appear she is battling down the hatches for the future of more nothingness. Doing the only absolute minimum with cash at hand which is clearly not progressing anything.

So that being the case she must be either waiting out the M&M bill implementation and agreements or waiting out for a potential sale. To me can only be one of two things.
100K does not sound like a lot of progress - AS THEY STATED IN THE ANNUAL REPORT - will be occurring with graphite.