Weak ProfitabilityPersistent heavy losses and negative operating margins erode retained earnings and limit internal reinvestment. Over several months this forces reliance on external capital, increases dilution risk, and challenges the company’s ability to reach sustainable profitability without structural cost or price improvements.
Negative Cash FlowOngoing negative operating and free cash flows create a cash burn dynamic that reduces runway for development and operations. In the medium term this constrains capital expenditures, heightens financing needs, and limits strategic flexibility in a cyclical mining environment.
Negative Return On EquityNegative ROE indicates shareholder capital is not generating returns, making it harder to attract long-term investors. Structurally, this pressure may force management to pursue dilutive funding or cut growth investments, slowing progress toward sustainable profitability.