Lycaon Resources Ltd. (AU:LYN) has released an update.
Lycaon Resources Limited, a mining and exploration company, has reported a net decrease in cash and cash equivalents, with operational activities resulting in a cash outflow of $72,000 for the quarter and $322,000 for the past nine months. Investing activities also saw a cash outflow of $76,000 this quarter, totaling $1,082,000 for the year to date, despite a boost from financing activities which provided a net inflow of $1,386,000 for the period. The company’s cash position remains challenging as they continue to fund exploration and evaluation activities.
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