Mako Gold Limited (ASX:MKG) Reports Quarterly Cash Flow Update
Cash Flow Overview
Mako Gold Limited (ASX:MKG) has released its quarterly cash flow report for the period ending December 31, 2024. The company reported a net cash outflow from operating activities of $259,000 for the quarter, leading to a total cash position of $639,000 at period end.
Investment and Financing Activities
In terms of investment activities, Mako Gold incurred expenditure of $425,000 on exploration and evaluation, contributing to a net cash outflow of $488,000 from investing activities for the quarter. Notably, the company has accessed a $500,000 loan from Aurum Resources Limited as part of a takeover offer. This loan facility, which totals $1,500,000, positions Mako Gold to fund its operations effectively.
Future Outlook
Mako Gold anticipates maintaining its current cash flow levels. The company has also communicated confidence in its ability to continue operations and meet business objectives, supported by the financial backing of the recent takeover offer.
Executive Insight
In response to funding concerns, the company noted, “Yes – the company is the subject of a takeover offer from Aurum Resources Limited. As part of the offer, Aurum has provided a loan facility to fund operations,” emphasizing their strategic moves to bolster financial health.
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