RAS
Ragusa Minerals LTD
ASX
Quarterly Appendix 5B Cash Flow Report - March 2025
Sentiment:
Quarterly Cash Flow Report
27 April 2025 6:29 PM
Ragusa Minerals Limited reports a net cash decrease of $85,000 for the quarter ending March 31, 2025, and is planning a placement to raise up to $2 million to fund operations and a new asset acquisition.
Capital raise
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.
Summary
- Ragusa Minerals Limited's quarterly cash flow report for the period ending March 31, 2025, shows a net cash decrease.
- The company's net cash used in operating activities was $78,000 for the quarter and $256,000 year-to-date.
- Investing activities resulted in a cash outflow of $7,000 for the quarter and $57,000 year-to-date, primarily due to exploration and evaluation expenses.
- The company had cash and cash equivalents of $127,000 at the end of the quarter, down from $212,000 at the beginning of the quarter.
- Ragusa Minerals estimates it has less than 2 quarters of funding available.
- The company announced a placement of fully paid ordinary shares on March 21, 2025, to raise up to $2 million before costs.
- The funds are intended to finance a new asset acquisition and current operations.
- Ragusa Minerals expects to continue operations and meet business objectives based on future successful capital raisings, potentially combined with new asset or project acquisitions.
Sentiment
Score: 5
Explanation: The sentiment is neutral. While the company is facing cash outflows and needs to raise capital, it has a plan in place and expects to continue operations. The dependence on future capital raisings introduces uncertainty.
Positives
- The company is taking steps to raise further cash through a placement of shares.
- Ragusa Minerals expects to continue its operations and meet its business objectives based on future capital raisings.
Negatives
- The company experienced a net cash decrease during the quarter.
- Operating activities resulted in a cash outflow of $78,000 for the quarter and $256,000 year-to-date.
- The company estimates it has less than 2 quarters of funding available.
Risks
- The company's ability to continue operations is dependent on successful future capital raisings.
- Failure to secure additional funding could impact the company's ability to meet its business objectives.
- The company is in the exploration stage and does not generate income, leading to negative operating cash flows.
Future Outlook
The company expects 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.
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 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 report is typical for a mining exploration company that is currently in the exploration phase and not yet generating revenue. The need for capital raising is common in this industry to fund ongoing exploration and evaluation activities.
Comparison to Industry Standards
- Many junior mining companies in the exploration phase rely on equity financing to fund their activities, similar to Ragusa Minerals.
- Companies like своей junior explorers often have negative cash flow from operations until they reach the production stage.
- The amount of cash runway (less than 2 quarters) is relatively short, indicating a need for immediate funding, which is not uncommon for exploration companies.
Stakeholder Impact
- Shareholders will be impacted by the potential dilution from the share placement.
- Employees' job security depends on the company's ability to secure funding and continue operations.
- The company's suppliers and creditors may face increased risk if the company's financial situation does not improve.
Next Steps
- Complete the planned placement of fully paid ordinary shares to raise up to $2 million.
- Secure a new asset acquisition.
- Continue exploration and evaluation activities.
Key Dates
- March 21 2025: Company announced it will conduct a placement of fully paid ordinary shares to raise up to $2m (before costs).
- March 31 2025: End of current quarter.
- April 28 2025: Date of the report.
Keywords
cash flow, exploration, funding, capital raising, placement, Ragusa Minerals, RAS, mining
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 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
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.
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
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.
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.
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
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.
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.