Low LeverageVery low debt-to-equity reduces refinancing and interest-rate vulnerability, giving the company structural financial flexibility. That conservatism helps preserve optionality for exploration or transactional opportunities during long project cycles and market volatility.
Improving Cash Burn TrendA measurable reduction in operating and free cash flow burn in 2024–2025 versus prior years suggests cost discipline or scaled-back activity. If maintained, this trend increases runway, lowers near-term refinancing needs, and improves odds of reaching a sustainable funding or operational inflection.
Tangible Exploration AssetsOwnership or historical interests in the Ellendale diamond project provide concrete asset optionality. These exploration/mining assets can be developed, monetized, or sold to partners, offering a structurally persistent source of long-term value beyond current operating losses.