Nagambie Resources Limited (AU:NAG) has released an update.
Nagambie Resources Limited reported a net decrease in cash and cash equivalents for the quarter ending 31 March 2024, with significant cash outflows in operating and investing activities not fully offset by financing activities. The company experienced a drain on cash reserves due to development, staff, and administrative expenses, despite receiving funds from equity securities issues and borrowings. Overall, the firm’s financial position reflects the challenging environment of the mining exploration sector, with a focus on managing expenditures and securing financing.
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