Ann: Shallow Trident drilling returns 38m at 2.9 g/t Au, page-11

My thoughts exactly. I felt heartbreak when they purchased Henty. Because that meant they will stop exploring Vic. Which was "raison d'etre".
From projection in the March quarterly, I think Cash less debt should improve again in the June quarter. Much hangs on June Quarter figures.

Last quarter $69M was spent on development including around $2M on growth exploration. I would be surprised if they need to come anywhere near that this quarter.

From Last quarter
Catalyst continues to progress its definitive feasibility study (DFS) of the Trident deposit. Work is focused on
lowering the operating and execution risk of the project’s development. With the success experienced at the
Plutonic underground mine, a more balanced approach to Trident’s development is now possible. This more
tempered approach reduces Catalyst’s need to overextend in developing Trident and thereby not tying all the
company’s future to its success. Catalyst believes this approach ensures a more efficient development of the belt.

IMO a very weird statement as it reads like they were hedging their bets which seem like gambling. However I am happy that this is the case.

After June quarter we will now so much more.