Very Low Leverage Balance SheetExtremely low leverage materially reduces solvency and interest-rate risk, giving the company durable financial flexibility. Over 2-6 months this supports continued exploration spending without near-term debt pressure and improves ability to raise capital on favorable terms if needed.
Growing Equity And Asset BaseMaterial equity growth builds a larger asset base and funding cushion, improving balance-sheet resilience. This durable capital buffer supports multi-stage exploration programs, provides optionality for capex or partnerships, and enhances creditor and investor confidence over months.
Improving Free Cash Flow TrendA trend toward less negative free cash flow indicates cash burn is moderating and some losses reflect non-cash charges. Persisting but improving FCF lessens immediate funding strain, increasing the odds the company can extend runway or reduce the frequency/size of external financings.