Chalice Mining Limited (AU:CHN) has released an update.
Chalice Mining Limited has streamlined its operations amidst the current metals price environment by reducing its Board from six to four members and cutting monthly expenditures from approximately A$2.4 million to A$1 million. These measures are part of a strategy to maintain a strong financial position and continue advancing the wholly-owned Gonneville Project, as well as pursuing targeted exploration activities. The company remains well-capitalized with around A$111 million in cash and investments and is focused on optimizing the development pathway for the Gonneville Project.
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