Juggling of limited capital JD. As with all junior explorers, STX has had to manage its exploration with issued capital and forward offtake options. Making discoveries and the journey of transitioning to producer is also a hidden curse for explorers as the associated development cost adds another layer of capital requirement to be dealt with.
Re Condor, as I have said all along, leave it with the experts to deal with but wise to assume the worst case. It's a shame they didn't see any prospectivity in it. At the same time, STX is still having to manage its cashflow carefully with a lot of development cost still ahead for SE and WE as well as exploration cost for OH.
618
Ann: 2Q FY24 Quarterly Report & Appendix 5B, page-16
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