Magnum Mining and Exploration Limited (AU:MGU) has released an update.
Magnum Mining and Exploration Limited reported a net decrease in cash and cash equivalents of $898.55 thousand for the quarter ended March 31, 2024, mainly due to administration, staff costs, and exploration & evaluation expenses. There were no significant cash flows from investing or financing activities during the period. The report indicates a challenging quarter with negative cash flow from operating activities, highlighting the financial movements in the company’s recent operations.
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