Modest Leverage / Falling DebtA modest debt profile and sharp decline in total debt by 2024 reduce near-term refinancing and interest-rate pressure, preserving financial flexibility. Over the next several months this supports funding optionality for exploration/development and lowers solvency risk versus highly levered peers.
Operating Cash Flow ImprovementOperating cash flow moving toward break-even signals improved cost control and reduced cash burn. If sustained, this trend materially lowers near-term capital needs, reduces dilution risk from external financing, and increases the likelihood of reaching self-funding within a multi-month horizon.
Narrowing Net LossesMeaningful reduction in net losses over several years indicates progress on expense management or cost structure adjustments. Sustained narrowing improves the company's runway, enhances prospects for eventual profitability, and reduces cumulative drain on equity if trends continue.