What can turn around the SP?

This stock is like the ASX game of limbo... What will turn this around? Their last cashflow statement indicated they had about $2.3M at bank as of 31 December 2023. With cash burn of about $1.1M per quarter, and their current cash burn rate of 1.9 quarters of funding. So we can definitely expect another cap raise. Everyone else is aware of this and wants to bail before they get heavily diluted again.

Last cap raised $1M net after issuing 37.2M shares at 4.3c. Spare a thought for Topdrill being heavily underwater on their $600k taken at 4.3c for escrow 6mths from November 2023. Wil they dump their 14M shares when it comes out of escrow in May 2024? If they do, they will take it to 0.3c.

With 472M shares on issue, and raising max 15% of that which gives 70.8M. The current trajectory of the SP may be 0.5c and with a 20% discount on equity priced at 0.4c (because how would this company raise debt and pay interest of 10% to attract investors?). So 70M at 0.4c gives $280k before costs so net of cost would be about....$2 or a maybe a maccas happy meal... NOT WORTH THE EFFORT as cash burn is $1.1M a quarter.

Also according to Colin's last update the company is not working on anything, not drilling anything, not processing anything and maybe just taking their sweet time until ASX decides to deregister the company. I do not see how they can unpaint themselves from a dark corner they have taken everyone into at this point. I have just about resigned my holdings to a painful market lesson sadly.