Persistent Cash BurnSustained negative operating and free cash flow indicate ongoing funding needs to progress the project. Over months this raises structural reliance on external capital raises or partnerships, which can dilute shareholders and create execution uncertainty if markets or counterparties become less supportive.
Weak Operating PerformanceRecurring large losses and negative gross profit show AVL remains in a pre-commercial phase. Without scalable, sustained revenue or positive margins, the firm faces structural risk that project economics or timelines may not deliver profitable operations within the medium term.
Limited Operating ScaleExtremely small headcount signals heavy reliance on contractors, partners and external capital to execute complex mine and processing development. This raises enduring execution risk over months as project delivery depends on third parties, permitting and capital markets rather than internal capacity.