Debt-free Balance SheetA debt-free balance sheet materially lowers solvency and interest-rate risks, giving management structural flexibility to fund exploration via equity, JV or earn-ins without fixed interest burdens. Over months, this supports continued project spending and reduces bankruptcy/downside risk.
Marked Improvement In Cash Outflows (2025)A sharp reduction in cash burn signals better cost control or timing benefits and extends runway absent new financing. Structurally lower outflows improve the company's ability to advance drilling/exploration programs over the coming months while reducing near-term funding pressure.
Larger Equity And Asset Base To Fund ExplorationA meaningful increase in equity and assets provides durable capital to support multi-month exploration campaigns, partnerships, and permitting. This capital base enhances optionality to pursue discoveries or farm-outs without immediate revenue reliance.