Conservative Balance Sheet / Low LeverageVery low debt relative to equity is a durable structural strength: it reduces near-term solvency risk, preserves financial optionality for project funding or exploration, and gives management time to execute without imminent refinancing pressure over the next several months.
Stable Loss Profile In Recent PeriodsConsistent, predictable losses (rather than steep deterioration) are a durable operational signal: they imply management has maintained a steady cost base and enable clearer runway planning, reducing execution volatility risk while the company pursues next-stage objectives.
Evidence Of Prior Cash-burn Control (FY2024)A period of near-flat cash burn in FY2024 demonstrates the company can exercise cost control when required, a durable capability that supports longer runway management and disciplined allocation of scarce capital during exploration or pre-revenue phases.