No RevenueZero trailing revenue means the company has not yet commercialized assets and relies entirely on exploration value creation or capital raises. Absent operating revenue, margins and profitability cannot be sustained, increasing structural dependence on external financing or asset transactions.
Large And Persistent LossesSubstantial recurring operating losses demonstrate the current cost base outstrips any income, eroding returns and equity over time if unresolved. Persistent negative EBIT reduces ability to self‑fund exploration and heightens reliance on dilution or asset disposals to sustain operations.
Significant Cash Burn / Funding RiskMaterial negative operating and free cash flows create ongoing funding needs. Even with low leverage, sustained cash burn over months elevates risk of dilution, program curtailment, or distressed asset sales, constraining the company's ability to execute multi‑year exploration plans.