Neometals Ltd. (AU:NMT) has released an update.
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Neometals Ltd reported a challenging quarter ending March 2024, with net cash used in operating activities totaling $2.116 million and an overall decrease in cash and cash equivalents of $5.606 million. Despite this, the company raised $12.131 million through the issuance of equity securities, mitigating the cash outflows from both operating and investing activities. Year to date, Neometals has experienced a net decrease in cash of $10.517 million, reflecting substantial investments in joint ventures and exploration activities.
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