For what it's worth here are my thoughts.Go to the last two 5Bs...

For what it's worth here are my thoughts.

Go to the last two 5Bs and note.

Item 1.1 Receipt from customers and Item 1.2 (c) production.

While 30 December 2023, 5B did not, 31 March 2024, 5B did address them separately.

Item 1.1 Receipt from customers of 21,947
Item 1.2 (c) production of 4,548

Include a few extras and 1.9 Net cash from operating activities of 14,550.

While Walyering is ticking over nicely and consistently at about 24 TJ/d, I expect this to continue. I don't know how it is increased; perhaps it has a mind of its own.

Let's look at the situation between now and the end of the year.

Income $(14.55 X 3) million. i.e. $43.65 million
Amount drawn down to satisfy (A, B, C & Rabobank) of $5 million ie $16.25 owing.
Bank balance $46.61 million.

43.65 + 46.61 - 16.25 = 74.01. $74.01 million without 8.3 Total relevant outgoings

With Outgoing of $(74.01/ 3) million i.e. $24.67 million per quarter.

At that level of outgoings, STX is completely broke by the end of year.

You have to rein in Exploration Expenses or crank up revenue substantially. The current level of EE cannot continue without a CR.

And a CR of say $25,000,000 @ 20 cents/share is 125,000,000 shares of dilution.

MOO. Can't guarantee accuracy or anything else for that matter. Good luck with it and I look forward to your critical assessment. J L.