Lycaon Resources Ltd. (AU:LYN) has released an update.
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Lycaon Resources Limited reported a net decrease in cash from operating activities amounting to $86,000 for the current quarter and a year-to-date deficit of $408,000, primarily due to exploration, staff, and administrative costs. However, the company also disclosed a significant net cash inflow from financing activities, totaling $2,326,000 for the quarter and $3,712,000 for the year, bolstered by proceeds from equity securities issues. Overall, this led to a net increase in cash and cash equivalents, despite the operational and investment cash outflows.
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