No Revenue And Persistent LossesAs an exploration-stage company with zero revenue and sustained net losses, Aurion lacks internal earnings to fund operations. This structural unprofitability means continued dependency on external capital and delays any pathway to positive returns on invested capital.
Negative And Worsening Cash FlowPersistent negative operating and free cash flow, with recent deterioration, signals rising cash burn. Over several quarters this reduces runway, increases financing frequency, and elevates execution risk for exploration programs if markets or partner funding tighten.
Reliance On Equity FinancingsDependence on equity raises is a structural risk: recurring dilution can erode shareholder value and makes program continuity contingent on market access. Without producing assets or predictable cash flow, the company must repeatedly tap capital markets or secure partners to sustain long-term exploration.