Amigos, the sad thing is that almost every ASX-listed company has outgoings to administration (i.e., staff and office) of close to 0.5 million per quarter - without any expenditure on exploration. In the case of TG6 for this quarter, as shown in the screenshot below, it was $484,000 (i.e., $229,000 +$255,000 = $484,000) for staff and admin., while its expenditure on exploration was only $12,000. So when a company becomes a shell, it still burns through the money pretty quickly. I am not too critical of TG6, because they are doing what many other junior explorers are doing at the moment during this downturn in the cycle. At this rate, they will burn through about $2 million in 2025 while they do nothing. My hope is that David Selfe makes an important announcement in his talk at the RIU conference next month.
(20min delay)