AuKing Mining Ltd (AU:AKN) has released an update.
AuKing Mining Ltd reports a net decrease in cash and cash equivalents in the current quarter ending June 30, 2024, with significant cash outflows from operating activities and investments in exploration. However, the company has managed to offset some of the outflows with a net cash inflow from financing activities, primarily through proceeds from equity securities and borrowings. Overall, the cash position has been impacted by higher administration and staff costs, as well as costs related to financing activities.
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