Magnum Mining’s Cash Balance Dips in Recent Quarter

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, with notable cash outflows for administration, corporate costs, and staff costs during the quarter ending 30 June 2024. The company’s quarterly cash flow report highlighted that there were no significant cash flows from investing or financing activities. Overall, the company experienced a considerable cash burn, with a much lower cash balance at the end of the period compared to the beginning.

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