Magnetic Resources Ends Quarter with $37.88M Cash After $35M Equity Raise

Strong Equity Raise Bolsters Financial Position

Magnetic Resources NL has fortified its financial foundation by raising $35 million through equity issuance in the September 2025 quarter. This capital injection significantly boosted the company's cash reserves, which now total $37.88 million, providing a solid buffer for ongoing exploration activities.

Operational and Investing Cash Flows Reflect Exploration Focus

The company reported a net cash outflow of $2.88 million from operating activities, primarily driven by exploration and evaluation expenditures totaling $2.215 million. Investing activities accounted for a modest outflow of $56,000, mainly related to property, plant, and equipment acquisitions, underscoring Magnetic Resources' continued commitment to advancing its asset base.

Financing Outflows and Related Party Payments

Financing activities saw a net outflow of $2.1 million, which includes transaction costs associated with the equity raise. Additionally, payments to related parties amounted to $187,000 during the quarter, a detail investors will monitor for governance and operational transparency.

Cash Runway and Future Outlook

With current cash reserves and expenditure levels, Magnetic Resources estimates it has funding available for approximately 13.15 quarters. This extended runway offers the company flexibility to pursue its exploration objectives without immediate capital pressures. However, the absence of new financing facilities suggests reliance on existing cash and equity markets for future funding needs.

While the quarterly report does not provide forward guidance or operational milestones, the strong cash position positions Magnetic Resources well to capitalize on exploration opportunities as they arise.