Neometals Ltd. (AU:NMT) has released an update.
Neometals Ltd, a mining and exploration company, reported a net decrease in cash and cash equivalents of $5,606,000 for the current quarter ending March 2024, with a total decrease of $10,517,000 over the past nine months. The company’s cash flows show significant investments in joint ventures and exploration, amounting to $11,244,000, overshadowing the cash inflows from financing activities at $10,857,000 for the nine-month period. Operating activities also reflected a cash usage of $10,130,000 year to date, indicating a period of heavy investment and operational expenses.
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