graphite market bigger than rare earths, page-8

ODC is to acquire an 80% legal and beneficial interest in the five West Roxby tenements by making a $3 million cash payment to Archer. ODC will spend $3 million on Exploration over a period of 3 years. ODC will sole fund the Project to the earlier of $50 million on exploration andor a decision to mine.
The HoA contemplates the finalisation of a Sale and Purchase Agreement and a Joint Venture Agreement prior to 30 April 2012 and the Company is pleased to announce that it has been in negotiations with ODC with the expectation of finalising the definitive agreements as soon as possible.

We have 3 million coming soon so should last a while longer, you never know they could raise early but it looks to me like it will be in the second half of the year.