Balance-sheet StrengthVery low leverage and a growing equity base provide durable financial flexibility for a development-stage miner. This reduces near-term refinancing risk and supports capital-intensive feasibility, permitting and construction phases, enabling progress without immediate heavy debt reliance.
Improving Cash OutflowA material reduction in FY2025 free cash outflow signals improving project execution and cost control. Sustained lower cash burn narrows future financing needs, lengthens runway for development milestones, and increases the probability of reaching cash-generative operations.
Strategic Industry PositionOperating in lithium brines targeting lithium chemicals positions the company within a structurally growing battery supply chain. If development and permitting progress continues, asset exposure to rising EV and energy-storage demand provides long-term upside to project economics.