Based on the last quarterly there was $4.7m in reserves.
The company is run pretty lean at $800 - $900k burn rate.
Plus the $5mill payment from Shandong.
Looks ok at face value.
Still has a 4-5 quarters but the $90mill cost to activate the mine is what has kept my powder dry.
And now the company is doing paid promotion on hotcopper and market herald.
For that reason im cautious of incoming cap raise. I would almost bet the house on it. The small cap game is all but too predictable these days.
[VIDEO] TON GRAPHITE PROJECT GOES AHEAD WITH CORNERSTONE INVESTOR, page-10
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