Persistent Negative ProfitabilityConsistent operating losses and deeply negative margins across reported years show the company currently lacks profitable operations. Prolonged losses erode the capital base, limit reinvestment, and heighten dependence on external funding, threatening long-term sustainability if not reversed.
Minimal And Volatile RevenueRevenue is negligible and lumpy, providing no reliable operational cash inflows. The absence of meaningful, recurring revenue hampers forecasting and forces reliance on financing or asset transactions to fund exploration, reducing resilience to capital-market stress.
Negative Operating & Free Cash FlowPersistent negative operating and free cash flow constrain the firm's ability to self-fund exploration and development. Ongoing cash burn necessitates external financing, which can dilute shareholders, delay projects, or restrict strategic options if capital access tightens.