Magnetic Resources NL (ASX:MAU) Announces Quarterly Cash Flow Report
Cash Flow Overview
Magnetic Resources NL (ASX:MAU) reported a cash outflow from operating activities of $4.39 million for the quarter ended December 31, 2024. Year-to-date, the total cash used in operating activities reached $7.32 million. The company aims to strategically manage its cash flow amidst the ongoing exploration and evaluation processes.
Investment Activities
The company incurred a minimal cash outflow of $209,000 in total with respect to investing activities. Payments were mainly related to property, plant, and equipment, totalling $29,000.
Financing Activities
Magnetic Resources saw positive activity in financing, generating $10.01 million from equity securities but faced transaction costs of $601,000. Net cash from financing activities for the current quarter stood at $9.41 million.
Cash Position
The net increase in cash and cash equivalents for the quarter was reported as $5.02 million, resulting in a closing cash balance of $11.6 million. The company has approximately 2.64 quarters of operational funding available based on recent cash flows.
Related Party Payments
Payments to related parties totalled $259,000 during the quarter, aligning with ongoing corporate governance standards.
Outlook
The company continues to engage in exploration initiatives while managing its cash resources effectively to support its operational objectives moving forward.
Motley Fool contributor Kiarra Jackson has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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