Horizon Minerals Ltd (AU:HRZ) has released an update.
Horizon Minerals Ltd reported a net decrease in cash and cash equivalents for the quarter ending 31 March 2024, driven by significant expenditures in exploration and evaluation, as well as in property, plant, and equipment. The company’s operating activities resulted in a cash outflow, further impacted by costs in administration, staff, and interest payments with no gold sales contributing to their revenue. Investing activities also showed a negative cash flow, despite proceeds from the disposal of tenements and some equipment.
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