RAS
Ragusa Minerals LTD
ASX
Quarterly 5B Cash Flow Report - September 2024
Sentiment:
Quarterly Cash Flow Report
28 October 2024 3:07 AM
Ragusa Minerals Limited (ASX: RAS) reported a net decrease in cash and cash equivalents to $283,000 during the September 2024 quarter, driven by exploration expenses and with approximately 1.8 quarters of funding remaining.
Worse than expected
The company experienced a significant decrease in cash and cash equivalents during the quarter, indicating worse than expected financial performance.
Capital raise
The company is considering its options with regards to raising additional funds.
The company believes it would be successful in raising sufficient funds to continue with the planned level of operations.
Summary
- Ragusa Minerals Limited (ASX: RAS) released its quarterly cash flow report for the period ended September 30, 2024.
- The company reported a net cash outflow from operating activities of $136,000 and a net cash outflow from investing activities of $21,000.
- Cash and cash equivalents decreased from $440,000 at the beginning of the quarter to $283,000 at the end of the quarter.
- Payments to related parties totaled $64,000 during the quarter.
- The company estimates it has approximately 1.8 quarters of funding available based on current cash and cash equivalents and expected operating cash flows.
- The company is considering options to raise additional funds to continue operations.
Sentiment
Score: 4
Explanation: The report reveals a negative cash flow and low cash reserves, but management expresses confidence in securing future funding. This creates a mixed sentiment.
Positives
- The company expects to continue operations and meet its business objectives based on future capital raisings and potential acquisitions.
Negatives
- Net decrease in cash and cash equivalents of $157,000.
- Negative operating cash flow of $136,000.
- Only 1.8 quarters of funding currently available.
Risks
- The company's reliance on future capital raisings to fund operations.
- The uncertainty of successfully raising sufficient funds.
- Negative operating cash flow due to exploration stage and lack of income generation.
Future Outlook
The company expects to continue operations and meet its business objectives based on future expected successful capital raisings, which may be combined with new asset or project acquisitions.
Management Comments
- The Company expects to have negative operating cash flows for the time being as it is in the exploration stage and does not generate income.
- The Company is considering its options with regards to raising additional funds.
- The Company believes it would be successful in raising sufficient funds to continue with the planned level of operations, including the identification and evaluation of new assets and projects, however no commercial discussions are at a stage that would warrant any disclosure.
- Yes, the Company does expect to be able to continue its operations and meet its business objectives based on future expected successful capital raisings, which may be combined with new asset or project acquisitions.
Industry Context
This announcement is typical for an exploration-stage mining company. The company's reliance on future capital raises to fund operations is a common characteristic of this sector, reflecting the high upfront costs and long lead times before revenue generation.
Next Steps
- The company is considering options to raise additional funds.
- The company plans to continue operations and meet its business objectives.
Key Dates
- 30 September 2024: Quarter end date
- 28 October 2024: Date of report authorization
Keywords
Ragusa Minerals, ASX: RAS, Quarterly Cash Flow Report, Exploration, Mining, Funding, Capital Raising
RAS
Ragusa Minerals LTD
ASX
Sector: Materials
Filings with Classifications
Capital raise
26 June 2025 6:28 PM
Capital Raise Announcement
- The document details an immediate capital raise of $427,200 through a placement to sophisticated investors.
Worse than expected
11 June 2025 8:54 PM
Company Update
- The Binding Heads of Agreement with Geopolymer Industries Pty Ltd was terminated due to the inability to satisfy conditions precedent, which is a negative outcome for the Company.
Capital raise
27 April 2025 6:29 PM
Quarterly Activities Report
- Ragusa will conduct a placement of fully paid ordinary shares to raise up to $2,002,000 (before costs) via the issue of up to 91,000,000 shares (Placement) at $0.022per share.
- Tranche 1 will comprise the issue of 13,650,000 Shares at 2.2 cents per share, raising $300,300 (before costs), to be issued under the Company's available placement capacity under ASX Listing Rule 7.1.
- Tranche 2 will comprise the issue of approximately 77,350,000 Shares at 2.2 cents per share, raising $1,701,700 (before costs), following receipt of Ragusa shareholder approval at a general meeting.
Capital raise
27 April 2025 6:29 PM
Quarterly Cash Flow Report
- The Company announced it will conduct a placement of fully paid ordinary shares to raise up to $2m (before costs).
- Funds raised from the placement will enable the Company to fund a new asset acquisition and current operations.
Capital raise
28 October 2024 3:07 AM
Quarterly Cash Flow Report
- The company is considering its options with regards to raising additional funds.
- The company believes it would be successful in raising sufficient funds to continue with the planned level of operations.
Worse than expected
28 October 2024 3:07 AM
Quarterly Cash Flow Report
- The company experienced a significant decrease in cash and cash equivalents during the quarter, indicating worse than expected financial performance.
Capital raise
24 October 2024 10:37 PM
Annual General Meeting Notice
- Resolution 3 seeks shareholder approval for a 7.1A mandate, allowing the company to issue up to an additional 10% of its issued capital.
- Funds raised under the 7.1A mandate will be used for acquisitions, exploration, business development, and working capital.
Capital raise
9 September 2024 4:39 AM
Annual Report
- The Group’s ongoing activities may require substantial further financing in the future.
- The Company will require additional funding to continue its exploration and evaluation operations on its projects with the aim to identify economically mineable reserves and resources.
- Any additional equity financing may be dilutive to shareholders, may be undertaken at lower prices than the current market price and debt financing, if available, and may involve restrictive covenants which limit the Group’s operations and business strategy.
Capital raise
30 July 2024 6:12 PM
Quarterly Cash Flow Report
- The company plans to raise further cash to fund its operations.
- The capital raising may be combined with new asset or project acquisitions.
Worse than expected
30 July 2024 6:12 PM
Quarterly Cash Flow Report
- The company's cash reserves have decreased significantly from the previous quarter.
- The company has negative operating cash flow and relies on capital raising to continue operations.
- The company only has 1.49 quarters of funding available.
Capital raise
29 April 2024 6:56 PM
Quarterly Cash Flow Report
- The entity may need to raise further cash to fund its operations.
- The document does not specify the details of the capital raise.
Worse than expected
29 April 2024 6:56 PM
Quarterly Cash Flow Report
- The company's cash reserves have decreased, and the estimated quarters of funding available is less than 2, indicating a worsening financial position.
Disclaimer: This summary was generated by artificial intelligence and its accuracy is not guaranteed. The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.