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MetalsGrove Mining Ltd (ASX:MGA)

ALERT: Price-sensitive ASX Announcement for MGA
Current share price for MGA : $0.099 0.001 (1.02%)+
Announcement
Release
24 Jul 2026 8:21AM
Price at Release
$0.098
Full Release
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Summary
MetalsGrove Mining Limited reported its quarterly cash flow, indicating a net outflow of $267,000 from operating activities primarily due to administrative and staff costs. The company incurred $376,000 in exploration and evaluation payments, without receiving government grants or tax incentives. Investing activities also saw a similar outflow for exploration purposes. However, the company recorded a substantial inflow from financing activities amounting to $2,588,000, derived from equity securities, resulting in an end-of-quarter cash balance of $1,974,000. Payments to related parties stood at $124,000, and the company estimates it has sufficient funding for the next three quarters based on current cash flow dynamics.
Key Points
  • MetalsGrove Mining Limited reported a net cash outflow from operating activities of $267,000 for the quarter.
  • Payments for exploration and evaluation activities totaled $376,000 for the quarter.
  • The company did not receive any government grants or tax incentives during this period.
  • Net cash used in investing activities was $376,000, primarily for exploration and evaluation.
  • Financing activities generated a net cash inflow of $2,588,000, mostly from proceeds of equity securities.
  • The company's cash and cash equivalents at the end of the quarter were $1,974,000.
  • Payments to related parties amounted to $124,000 during the quarter.
  • MetalsGrove Mining has an estimated three quarters of funding available with the current cash flow and cash reserves.
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.