Tombador Iron Limited Quarterly Cash Flow Report - 30 June 2024
TOMBADOR IRON LIMITED (TI1) Share Update July 2024 Wednesday 31st
Tombador Iron Limited Releases Quarterly Cash Flow Report
Tombador Iron Limited (ASX: TI) has released its quarterly cash flow report for the period ending 30 June 2024, showcasing stable financial performance and robust cash reserves.
Instant Summary:
- Net cash used in operating activities: $10,000
- Net cash from investing activities: $503,000
- Cash and cash equivalents at end of period: $10.843 million
- No new financing activities or borrowings during the quarter
- Payments to related parties: $223,000
Operating Activities
The report reveals that Tombador Iron Limited had a net cash outflow of $10,000 from operating activities for the quarter. This includes payments for staff costs amounting to $215,000 and administration and corporate costs totaling $41,000. The company also received $32,000 in interest and $214,000 in royalty income.
Investing Activities
In terms of investing activities, Tombador Iron Limited reported a net cash inflow of $503,000. This was primarily due to proceeds from the disposal of certain assets amounting to $503,000. No significant expenditures were made for acquiring new entities, tenements, or property, plant, and equipment during the quarter.
Financing Activities
The company did not engage in any financing activities during the quarter. There were no proceeds from equity securities, convertible debt securities, or borrowings, and no dividends were paid.
Cash Position
Tombador Iron Limited maintained a strong cash position with cash and cash equivalents at the end of the period amounting to $10.843 million, up from $10.431 million at the beginning of the quarter. The company also reported an effect of movement in exchange rates on cash held, which resulted in a decrease of $81,000.
Related Party Transactions
The report includes payments to related parties and their associates totaling $223,000 for the quarter. These payments are associated with item 1 of the cash flow statement, covering staff costs and other administrative expenses.
The stable cash flow and strong cash reserves indicate that Tombador Iron Limited is in a solid financial position. This stability is likely to reassure investors and could positively influence the company's stock price. The lack of new financing activities or borrowings suggests a conservative financial strategy, which may appeal to risk-averse investors.
Investor Reaction:
Analysts are likely to view the report positively due to the company's strong cash reserves and stable financial performance. The absence of new debt and the focus on maintaining cash reserves could be seen as prudent management, especially in a volatile market environment.
Conclusion:
Investors should consider Tombador Iron Limited's strong cash position and stable financial performance as positive indicators of the company's health. Monitoring future reports and strategic decisions will be crucial for assessing long-term investment potential.