Impact Minerals Limited - Quarterly Cash Flow Report - June 2024
IPT (IPT) Share Update July 2024 Tuesday 23rd
Impact Minerals Limited Releases Quarterly Cash Flow Report
Impact Minerals Limited (ASX: IPT) has released its quarterly cash flow report for the period ending June 30, 2024, detailing its financial activities and cash position.
Instant Summary:
- Net cash used in operating activities: $136,000.
- Net cash used in investing activities: $733,000.
- Net cash from financing activities: $3,448,000.
- Cash and cash equivalents at end of period: $3,435,000.
- Estimated quarters of funding available: 3.95.
Operating Activities
During the current quarter, Impact Minerals Limited reported net cash used in operating activities amounting to $136,000. This includes staff costs of $85,000 and administration and corporate costs of $431,000. The company received an R&D Rebate of $395,000, which helped offset some of these expenses.
Investing Activities
The net cash used in investing activities for the quarter was $733,000. This primarily consisted of payments for exploration and evaluation totaling $733,000. There were no proceeds from the disposal of entities, tenements, property, plant and equipment, or investments during this period.
Financing Activities
Impact Minerals Limited saw a significant influx of cash from financing activities, with net cash from financing activities amounting to $3,448,000. This included proceeds from the issue of equity securities totaling $3,000,000 and the exercise of options amounting to $725,000. Transaction costs related to these equity issues were $206,000.
Cash Position
As of June 30, 2024, the company had cash and cash equivalents totaling $3,435,000. This is a substantial increase from the previous quarter's cash position of $856,000. The company estimates that it has enough funding for approximately 3.95 quarters based on its current cash outflows.
The positive cash flow from financing activities has significantly bolstered Impact Minerals Limited's cash position. This influx of funds provides the company with a stronger financial base to continue its exploration and evaluation activities. However, the ongoing cash outflows for operating and investing activities highlight the importance of continued financial management and potential future financing.
Investor Reaction:
Investors and analysts have reacted positively to the increase in cash and cash equivalents, noting that the successful capital raise and exercise of options demonstrate strong investor confidence in the company's prospects. However, some caution remains regarding the ongoing costs associated with exploration and evaluation activities.
Conclusion:
Investors should keep a close eye on Impact Minerals Limited's future financial reports and any updates on its exploration and evaluation activities. The company's ability to manage its cash flows and secure additional funding if necessary will be crucial for its continued success.