Lycaon Resources Ltd. (AU:LYN) has released an update.
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Lycaon Resources Limited reported a net decrease in cash and cash equivalents after the latest quarter ending 31 March 2024, citing expenditures on exploration and evaluation, as well as staff and administrative costs that outpaced their operating income. Despite these outflows, the company secured a substantial amount of financing through equity securities, which helped offset cash used in their operations and investments. The report highlights a net cash outflow from operating and investing activities, with a financing cash inflow bolstering their financial position.
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