88E has received the outstanding US$2.2m cash call in full from JV partner Burgundy Xploration. Following this payment, we estimate 88E will exit 1Q25 with over A$10m in cash (YE24: A$7.2m). A significant reduction in costs in 2024 has reduced 88E’s annualised staff costs and corporate costs to A$3.5m, affording the Company time to complete the ongoing farm-out processes at Project Phoenix and Project Leonis.
