|
|
Article: Murchison Metals Limited (ASX:MMX) Quarterly Activites And Cashflow Report For 31 March 2009
- Article from:
- abnnewswire.net
- Article date:
- April 24, 2009
- Author:
CopyrightCopyright 2009 ABN Newswire. (Hide copyright information)
|
Murchison Metals Limited (ASX:MMX)(PINK:MUMTF) As at 31 March 2009 the Company was debt free and had cash and liquid investments of A$143 million, a decrease of A$18 million from the previous quarter. Included in this cash outflow are amounts paid to Crosslands and OPR of A$17 million to finance feasibility studies and exploration costs. Interest earned on investments for the quarter amounted to A$1.9 million.
The international iron ore market showed signs of stabilisation and price recovery following the New Year after a sharp decline in October 2008. Steel producers, particularly in China, ran through stockpiled inventory and began the process of restocking. Shipment deferrals declined ...