Ragusa Minerals Faces Cash Flow Challenges

Ragusa Minerals Ltd (AU:RAS) has released an update.

Ragusa Minerals Limited reported a net decrease in cash and cash equivalents, citing a quarter with significant cash outflows for staff and administration costs, legal settlements, and exploration activities. No new financing was secured during the quarter, and the company experienced a net cash drain from operating and investing activities totaling $296,000. The report shows a challenging quarter for Ragusa Minerals, with a continued focus on exploration despite financial setbacks.

For further insights into AU:RAS stock, check out TipRanks’ Stock Analysis page.