General Discussion Topics, page-128602

Happy to have a crack. PLL's previous 10Q (quarterly) showed they spent only US$471k on "exploration and mine development costs" (not much at all). They also spent US$11.1M on "selling, general and administrative expenses". However thanks to the revenue from NAL, overall that quarter they made a net income of US$22.8M.

Given that they haven't yet made FID on A11's Ewoyaa, I doubt PLL have had to make much capex contribution there at all in the December quarter. And as the above shows, they spent less than US$500K in the September quarter on "exploration and mine development costs". All of this leads me to the assumption (yes, just an assumption), that even with more NAL revenues coming in, something chewed up US$22.5M worth of cash in the last quarter for PLL.

Looking at their projects, and the different stages they are sitting at, which is the most likely culprit?