Ann: FY24 Production and Cash Update, page-29

whilst it is nice to see AMI recovering, I do wonder whether they really needed to raise as much as they did. My take is they could have raised a lot less and perhaps at higher price resulting in less dilution.

they should still be able to generate sufficient funds in FY25 to cover off Federation spend assuming the Peak plant is running at 600-700 ktpa throughput.

i believe it will only be in FY26 that serious cash generation will begin, once nameplate is hit and the Hera plant is brought back online.

until then the catalysts are likely to be any corporate activity/drilling results