Lunnon Metals Limited (AU:LM8) has released an update.
Lunnon Metals Limited reported a significant outflow of cash in its latest quarterly report, with increased expenditures on exploration and evaluation, staff, and administration costs leading to a net decrease in cash and cash equivalents. Despite the outflows, the company raised funds through equity securities, which tempered the overall cash reduction. The correction of a previous misallocation in the December 2023 report adjusted the ‘Year to date’ values to accurately reflect an increase in ‘Interest received’.
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