NuEnergy Gas Limited (ASX:NGY) Reports Quarterly Cash Flow
Cash Flow Summary
NuEnergy Gas Limited (ASX:NGY) reported a net cash outflow of $279,000 from operating activities for the quarter ended 31 December 2024. The total cash outflows included $305,000 in administration and corporate costs. Net cash used in investing activities was $741,000, mainly due to capitalised exploration and evaluation costs. The company had a cash balance of $4,889,000 at the end of the quarter.
Funding and Loans
The company accessed multiple loan facilities with Globaltec Formation Berhad and its subsidiaries. A loan agreement with PT Indotech Metal Nusantara for IDR8,161,450,000 ($A838,601) is primarily for coal bed methane exploration. This loan incurs interest at 10% per annum.
Future Outlook
NuEnergy has made significant efforts to maintain its funding through various financing arrangements. As of the end of the reporting period, the company has assessed that it has adequate funds for upcoming operating activities, projecting it can sustain operations based on current cash reserves and available financing.
Motley Fool contributor Abbie Stokes 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.
This article was generated using GPT-4o mini, a Large Language Model (LLM), to generate summaries of investing news. While AI is generating the content, we know better than to blindly trust our future robot overlords, and every article is edited and fact-checked by an editor holding the appropriate credentials. The Motley Fool Australia stands behind the work of our editorial team and takes ultimate responsibility for the content of everything published by The Capital Club.