Protean Energy Eyes New Ventures Amidst Suspension

Protean Energy Limited (AU:POW) has released an update.

Protean Energy Limited’s recent quarterly report indicates a continued suspension from stock quotation, with efforts focused on exploring new business acquisition opportunities outside the mining sector and reducing operational costs. The company reported net cash used in operations at $105,000, with the majority spent on director fees and administrative expenses. Despite the financial challenges, Protean remains active in seeking strategic avenues for compliance and growth.

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