Impact Minerals Limited (ASX:IPT) Reports Quarterly Cash Flow
Financial Performance Overview
Impact Minerals Limited (ASX:IPT) reported a net cash inflow from operating activities of $67,000 for the current quarter, while the year-to-date net cash outflow stands at $515,000. The entity’s cash and cash equivalents at the end of the current quarter were $1.204 million, down from $1.977 million at the beginning.
Investment Activities
In the investments segment, Impact Minerals reported net cash used of $843,000 for the current quarter. This equates to cumulative investing activities totaling $1.693 million for the first six months of the financial year, driven primarily by exploration and evaluation expenses.
Operating Costs and Revenue
Significant cash outflows included $104,000 for staff costs and $373,000 for administration and corporate expenses. Interest income for the current quarter stood at $32,000 and the company received a total of $512,000 in R&D rebate during the year to date.
Future Funding and Development Plans
The company confirmed that it anticipates maintaining current operating cash flows and has a strategy to raise additional funds as required. A notable future funding source is a $2.87 million grant awarded for the commercialisation of its High Purity Alumina production process from the Lake Hope Project, in collaboration with CPC Engineering and Edith Cowan University.
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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