Magnum Mining Faces Cash Flow Challenges Amid Expenses

Magnum Mining and Exploration Limited (AU:MGU) has released an update.

Magnum Mining and Exploration Limited reported a decrease in cash flow for the quarter ended September 30, 2024, primarily due to significant operating expenses in exploration, staff, and administrative costs. The company experienced a net cash outflow of $572,940 from operations, with no additional cash generated from investing or financing activities. This highlights potential challenges the company faces in managing cash amid ongoing exploration and evaluation activities.

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