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Intra Energy Corporation Limited (ASX:IEC)

ALERT: Price-sensitive ASX Announcement for IEC
Current share price for IEC : $0.066 0.064 (3,200%)+
Announcement
Release
29 Oct 2024 9:00AM
Price at Release
$0.002
Full Release
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Summary
Intra Energy Corporation Limited's quarterly cash flow report for the period ending on September 30, 2024, indicates a net cash outflow of $153,000 from operating activities, with total cash and cash equivalents decreasing to $755,000. The company incurred exploration costs of $273,000 and administrative costs of $50,000 during this quarter. Although the company is facing a short-term cash position challenge, it anticipates a reduction in exploration expenditure as it plans no drilling campaign in the upcoming quarter. It remains optimistic about its ability to continue operations and meet business objectives.
Key Points
  • Net cash outflow from operating activities was $153,000.
  • Total cash and cash equivalents at the end of the quarter amounted to $755,000.
  • Exploration costs for the quarter were $273,000.
  • Administrative costs totaled $50,000.
  • The company is not planning a drilling campaign in the upcoming quarter.
  • Anticipates significant reduction in exploration expenditure.
  • The company remains optimistic about continuing operations.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.