Low Leverage / Strong Balance SheetVery low debt materially reduces solvency risk and preserves financing optionality for a pre-production explorer. A conservative capital structure supports continued funding of exploration and studies, lowering near-term distress risk and enabling strategic partnerships over the next months.
Reduced Cash Outflows In FY2025A meaningful reduction in cash outflows demonstrates improved spending discipline and operational control. While still negative, smaller cash burn extends runway, reduces immediate fundraising pressure, and makes execution of near-term development work and permitting more feasible.
Strategic Focus On Critical Minerals (Julimar)Concentrating on nickel, copper and PGEs at Julimar aligns with structurally strong demand drivers—electrification, batteries and catalytic uses. This commodity mix enhances the project's strategic attractiveness for offtake, JV partners or sovereign-interest investors over the medium term.