Let’s be real—“inferred” doesn’t mean there’s gold in the...

Let’s be real—“inferred” doesn’t mean there’s gold in the ground
It’s like Schrödinger’s cat: it might be there, it might not. It’s a geological guess at best, not a guarantee

And as for bankruptcy? They’re dancing on the edge of administration

Just look at the numbers from the ASX:

2023 revenue: $80,000
2023 net loss: $23.64 million
Prior 3 years: Annual losses between $13M and $16M
Total accumulated losses: Over $110 million
They failed to lodge their financials last year—what are they hiding?
Then the CEO resigns for “personal reasons” within two weeks of the Kat Gap sale, which brought in just $7 million

Based on YTD figures:
$4 million spent on operations
$7 million brought in from the Kat Gap sale (post-investment)
$3.65 million spent in financing activities

The cash burn is real
The revenue is a joke
The timing of the CEO’s exit? More than a little suspicious

If this isn’t a slow-motion collapse, it’s at least a flashing red warning sign