Whatsnext, I agree they will need more cash the next 6-9 months....

Whatsnext, I agree they will need more cash the next 6-9 months. Their burn last quarter was excessive, however, if we break it down it was spent on:
a) Exploration was the majority and they did do a lot of positive drilling around their graphite assets. So I see this positive because they are getting on with it.
b) Administration costs worried me somewhat because they were high at around 783k for the quarter. I would like to know the a more detailed breakdown of this and how much was around Due Diligence in the Korean asset acquisition. The Korea asset acquisition I still don't not have a comfortable feel for as the information on it is still limited.. I look forward to get more transparency on this as they propose more activity around this during the quarter.

They are predicting significantly less expenditure this quarter of 800k (500k Exploration and 300k admin).

What I am really now waiting on is the initial JORC resource for McIntosh and pre-feasibility study. It won't be the full JORC (which I expect their would be an upgrade with further drilling and defining of the resource/s). This has been promised according to their latest Investor Presentation (P21) this quarter ie before end of March.. Given their drill results to date and preliminary metallurgical results continue, then this should drive the stock significantly higher upon that resource JORC announcement.