Overview of Lefroy Exploration's quarterly cash flow report

Lefroy Exploration Limited (ASX: $LEX) has released its quarterly cash flow report for the quarter ended 31 March 2024. The report includes details of non-executive director fees, managing director's remuneration, corporate advisory services payments, and future funding plans. Lefroy Exploration Limited also provided insights into its net operating cash flows and steps taken to raise further cash to fund its operations.

Executive commentary on cash flow and future outlook

The Company is in the process of finalising its Research and Development tax incentive program submission, relating to research activities performed by the Company on the Burns project during FY23. It is anticipated that this rebate will be received by 30 June 2024 and provide additional funding for operational and investing activities going forward. Lefroy Exploration Limited believes it has cash available for future operating activities in excess of 2 quarters of net cash outflows for relevant outgoings going forward. As outlined in the report, the Company expects to be able to continue its operations and meet its business objectives.

Summary of Lefroy Exploration's quarterly cash flow report and outlook

Lefroy Exploration Limited's quarterly cash flow report revealed details of non-executive director fees, managing director's remuneration, and payments for corporate advisory services. The report also highlighted the Company's expectation of not having the same level of net operating cash outflows going forward due to reduced drilling activities. Additionally, the Company is in the process of finalising its Research and Development tax incentive program submission, which is expected to provide additional funding for operational and investing activities. Lefroy Exploration Limited expressed confidence in its ability to continue operations and meet its business objectives, indicating a positive outlook for the future.