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Magnetic Resources NL ( (AU:MAU) ) has issued an announcement.
Magnetic Resources NL’s recent quarterly cash flow report indicates a net cash usage in operating activities amounting to $2,880,000, primarily driven by exploration and evaluation expenses. Despite these operational cash outflows, the company successfully raised $35,000,000 through equity securities, resulting in a net positive cash flow from financing activities of $32,900,000. This financial maneuver significantly bolsters the company’s cash reserves, potentially supporting future exploration and development projects.
The most recent analyst rating on (AU:MAU) stock is a Buy with a A$3.98 price target. To see the full list of analyst forecasts on Magnetic Resources NL stock, see the AU:MAU Stock Forecast page.
More about Magnetic Resources NL
Magnetic Resources NL is a company operating in the mining exploration sector, focusing on the exploration and evaluation of mineral resources. The company is involved in activities related to the acquisition and development of tenements, and it seeks to enhance its market position through strategic exploration initiatives.
Average Trading Volume: 349,495
Technical Sentiment Signal: Buy
Current Market Cap: A$395.7M
For a thorough assessment of MAU stock, go to TipRanks’ Stock Analysis page.