Chalice Mining Limited (AU:CHN) has released an update.
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Chalice Mining Limited has streamlined its operations amidst the current metals price environment by reducing its Board from six to four members and cutting monthly expenditures from approximately A$2.4 million to A$1 million. These measures are part of a strategy to maintain a strong financial position and continue advancing the wholly-owned Gonneville Project, as well as pursuing targeted exploration activities. The company remains well-capitalized with around A$111 million in cash and investments and is focused on optimizing the development pathway for the Gonneville Project.
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