Intra Energy Corporation Limited (AU:IEC) has released an update.
Intra Energy Corporation Limited reported a net decrease in cash and cash equivalents for the quarter ended 30 June 2024, with outflows from operating and investing activities at $298,000 and $369,000 respectively, despite an influx from financing activities totaling $3,384,000. The company experienced significant administration and corporate costs, while also engaging in exploration and evaluation activities, which contributed to the cash outflows. The firm’s financial position reflects the challenges of balancing developmental expenses against financing gains in the mining and energy sectors.
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