Low LeverageNear-zero debt materially reduces refinancing and interest-rate risk for a capital-intensive explorer/developer. This structural strength gives management flexibility to sequence exploration, permitting, or staged financing without immediate pressure from creditors, supporting multi‑year project timelines.
Growing Equity BaseA larger shareholder equity base strengthens the company's ability to absorb exploration write-offs and fund technical studies. Over months this bolsters credibility with partners and lenders for project financing, increasing optionality to advance the Spanish Mountain asset toward development.
Defined Project Development PathHaving a clear flagship asset and explicit development activities (drilling, resource definition, technical studies, permitting) provides a durable roadmap to potential value creation. A focused strategy concentrates capital and expertise, improving the odds of progressing to a development decision over time.