Magnum Mining and Exploration Limited (ASX:MGU) Quarterly Cash Flow Report
Cash Flows Overview
Magnum Mining and Exploration Limited (ASX:MGU) reported net cash used in operating activities of $87.68k for the quarter ended December 31, 2024. This brings the year-to-date cash outflow from operations to $2.31 million.
Operating Activities
The company’s primary expenditure included staff costs of $35.04k and administration and corporate costs amounting to $160.53k. Notably, government grants and tax incentives contributed $161.18k during the same period.
Investing Activities
In terms of investing activities, Magnum Mining recorded a minor cash inflow of $2.00k from loans to other entities, with no significant outflows for exploration or acquisition of assets during the quarter.
Financing Activities and Liquidity
The company did not report any cash flows from financing activities for the quarter. Magnum Mining holds total financing facilities of $11 million, with the full amount currently unused. The company ended the quarter with cash equivalents totaling $332.81k, a decrease from $408.46k at the previous quarter’s close.
Future Outlook
Magnum Mining continues to evaluate its current financial position and maintain funding for upcoming operating activities. The total available funding, including cash on hand and unused financing facilities, stands at $11.33 million.
Motley Fool contributor Lianne Eastty 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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