Persistent Negative Cash FlowConsistent negative operating and free cash flow across reported periods indicates the business is consuming cash rather than generating it. Structurally, this forces repeated external funding, constrains reinvestment in resource definition or development, and increases execution risk absent a clear path to sustained FCF.
Deep And Ongoing Net LossesLarge, persistent net losses erode equity and hinder the firm's ability to self-fund development. Over time, sustained unprofitability undermines investor returns, limits retained-capital for project advancement, and raises the bar for operational improvements required to reach break-even and positive returns.
Dependence On External Capital / Dilution RiskAs an exploration/development company without recurring operating revenue, Trigg structurally depends on equity raises or partner financing. Repeated capital raises can dilute shareholders, divert management attention to financing, and expose project timelines to market cycle volatility unless replaced by stable project cash flows or strategic partnerships.