18-24 months ago this company had a very strong balance sheet - almost $10m cash, strong royalty AND was very active with exploration. Now a capital raise looks possible in the next 12-18 months.
How much was invested into the "discoveries on the eastern seaboard" which have since been abandoned without explanation?
I suppose drilling 560m deep diamond holes into brand new projects like Yarindury is much easier - you can skip all the science and just send it to get lucky! But that's also why you end up drilling 560m of cover and kicking the can years down the road..
Almost $400k quarterly staff costs in September '24, now only $209k. err?
They say "better lucky than good"... But they also say "you make your own luck."...
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