Low LeverageThe company reports effectively no debt in 2025, which materially reduces near-term solvency and interest burden. Low leverage preserves financial flexibility for a small, pre-revenue miner and lowers immediate refinancing risk while management pursues development or funding options.
Improving Cash BurnOperating and free cash outflows improved year-over-year, indicating tighter cost control or reduced cash intensity. Durable reductions in burn rate lengthen runway and lower near-term funding needs, improving odds of executing strategic plans without immediate dilutive financing.
Access To Public Capital MarketsListing on the ASX provides a structural channel for equity and debt capital raises, enabling the company to access institutional and retail funding. For a small miner with negative cash flow, ongoing access to public markets is a durable advantage for financing exploration or development stages.