Negligible Revenue And Persistent LossesWith virtually no revenue and ongoing net losses, the company lacks an operating income base to scale. Persistent losses make long-term funding dependent on external capital or asset disposals, creating execution risk and pressure on sustaining exploration programs.
Historical Capital Structure VolatilityPrior periods of negative equity and recorded debt reveal episodic funding stress. That history increases the likelihood of future dilutive financings or onerous funding terms if exploration needs capital, a structural risk to shareholder value over the coming months.
No Producing Assets Or Confirmed PartnersAs an exploration-stage company without producing assets or disclosed partner agreements, revenue depends on future deals or discoveries. This structural uncertainty lengthens the timeline to sustainable cash flow and elevates project and execution risk for investors.