North Stawell Minerals, Ltd. (AU:NSM) has released an update.
North Stawell Minerals Ltd., an exploration entity, reported a challenging quarter with a net cash usage in operations amounting to A$446.2 thousand, and an overall year-to-date cash outflow of A$1.38 million, primarily due to staff and administration costs. Despite this, the company secured A$257 thousand from R&D tax incentives, softening the investment cash flow impact to a net positive A$57.2 thousand for the quarter. Financing activities resulted in a net outflow of A$126.7 thousand for the quarter, but show a net inflow of A$786.2 thousand year-to-date, following equity security issuances.
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