Black Canyon Raises A$10.45M Equity, Ends Quarter with A$11.57M Cash
Black Canyon Limited reported a robust cash position of A$11.6 million at the end of September 2025, supported by a strong equity raise that extends its funding runway to nearly three years.
- Net cash used in operating activities – A$417,000
- Investing cash outflows mainly for exploration, A$684,000
- Financing activities generated A$10.45 million from equity issues
- Cash and equivalents at quarter end, A$11.57 million
- Estimated funding available for 11 quarters based on current outgoings
Quarterly Cash Flow Overview
Black Canyon Limited has released its cash flow report for the September 2025 quarter, revealing a solid liquidity position despite ongoing exploration expenditures. The company recorded a net cash outflow of A$417,000 from operating activities, reflecting typical costs associated with early-stage mining exploration and evaluation.
Investing activities further consumed A$684,000, primarily directed towards exploration and evaluation efforts. This level of investment underscores Black Canyon's commitment to advancing its mineral prospects, although it continues to operate at a cash burn consistent with its developmental phase.
Strong Financing Boost
The highlight of the quarter was a substantial net cash inflow of A$10.45 million from financing activities, predominantly from equity issues. This capital injection significantly bolstered the company's cash reserves, allowing it to end the quarter with A$11.57 million in cash and cash equivalents. Such a strong cash position provides Black Canyon with a comfortable buffer to fund its operations and exploration programs without immediate financing concerns.
Funding Runway and Operational Outlook
Based on current expenditure levels, Black Canyon estimates it has sufficient funding to sustain operations for approximately 11 quarters. This extended runway offers the company strategic flexibility to pursue its exploration objectives without the pressure of near-term capital raises. Payments to related parties, including director fees and salaries, amounted to A$291,000, a figure disclosed transparently in the report.
Notably, the company has no drawn or available financing facilities beyond its cash reserves, indicating a reliance on equity markets for funding rather than debt. The report was authorised by the Board on 23 October 2025, affirming compliance with accounting standards and providing assurance of the accuracy of the disclosed figures.
Looking Ahead
While the cash flow report paints a positive picture of financial health, Black Canyon’s future will depend heavily on the progress and results of its exploration activities. Investors will be watching closely for updates on project milestones and any strategic moves to capitalise on the current strong cash position.
Bottom Line?
Black Canyon’s strong cash position and extended funding runway set the stage for focused exploration progress in the coming quarters.
Questions in the middle?
- What are the company’s upcoming exploration milestones and timelines?
- Will Black Canyon seek to diversify funding sources beyond equity raises?
- What is the strategic rationale behind payments to related parties and their impact on governance?
