Sihayo Gold Limited (AU:SIH) has released an update.
Sihayo Gold Limited reported a net decrease in cash and cash equivalents in the current quarter, with significant cash outflows in staff, administration, and exploration costs, partially offset by proceeds from borrowings. The company experienced a net cash outflow from operating activities, intensifying the cash burn due to further investments in exploration and evaluation. Overall, the financial activities provided a slight cash inflow, but it wasn’t sufficient to counterbalance the outflows, leading to a decrease in cash reserves.
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