Peninsula Energy Limited (ASX:PEN) Releases Quarterly Cash Flow Report
Financial Performance
Peninsula Energy Limited reported a net cash outflow of $864,000 from operating activities and $32.023 million from investing activities during the current quarter. The company’s cash and cash equivalents decreased to $44.918 million at the end of the quarter.
Future Funding and Outlook
The company estimates it has funding for 52 quarters; however, capital development and pre-production costs for the Lance Projects are not included in this calculation. Peninsula Energy is exploring additional funding options, including potential support from the US Department of Energy and independent third parties.
Related Party Payments
During the quarter, $398,000 was paid to related parties, including Executive Directors and Non-Executive Directors fees.
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