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The latest update is out from Argonaut Resources ( (AU:ORP) ).
Orpheus Uranium reported a quarterly cash flow update showing no operating revenue and continued spending on staff and corporate costs, resulting in operating cash outflows of A$0.37 million for the March quarter and A$1.22 million for the nine months to date. The explorer invested a further A$1.16 million in the quarter, largely on tenements, exploration and investments, but was significantly bolstered by A$4.37 million in new equity raisings, leaving the group in a stronger cash position to fund ongoing uranium exploration despite continuing negative operational cash flow.
More about Argonaut Resources
Orpheus Uranium Limited is an Australian mining exploration company focused on uranium assets. The company operates as a pre-revenue explorer, with activities centred on acquiring and evaluating tenements and building a project portfolio in the uranium sector.
YTD Price Performance: 12.00%
Average Trading Volume: 347,570
Technical Sentiment Signal: Sell
Current Market Cap: A$19.72M
For an in-depth examination of ORP stock, go to TipRanks’ Overview page.