Corazon Mining Limited (ASX:CZN) Reports Quarterly Cash Flow
Cash Flow Performance
Corazon Mining Limited (ASX:CZN) reported a net cash outflow of $132,000 for the current quarter, representing a total of $379,000 for the year to date. The company faced operational costs, including $90,000 in staff costs and $294,000 in administration and corporate expenses. Overall, the company’s cash and cash equivalents stood at $1,133,000 at the end of the quarter.
Investing Activities
In terms of investing, Corazon Mining spent $573,000 on exploration and evaluation, resulting in a total net cash outflow from investing activities of $755,000 for the quarter. Year to date, this brings the total investment in exploration and evaluation to $903,000. The company continues to focus on advancing its projects through strategic investments.
Financing Activities
Corazon reported net cash inflows from financing activities of $1,416,000 during the quarter. This was primarily attributed to proceeds from equity securities, despite transaction costs of $134,000 associated with these activities.
Future Outlook
Corazon Mining anticipates continuing its exploration activities but at a reduced level of expenditure in upcoming quarters. The company is focused on closely monitoring its financial resources to ensure ongoing operations and adherence to business objectives.
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.
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