Metals Australia (ASX:MLS) ended the fiscal third quarter with a cash balance of AU$11.8 million, compared with AU$14.9 million in the fiscal second quarter, according to a Thursday filing with the Australian bourse.
Net outflows during the period totaled AU$3.1 million, including AU$2.9 million for exploration activities, the filing stated.
The mineral explorer said it is pursuing infrastructure funding opportunities with the Canadian federal government. It noted that funding applications in the US have been put on hold until further notice due to new administration directives.
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